I’m sure there are some expedient reasons that the TribCo chose to pay Mr. Michaels $675,000 and cover his legal fees, but it sends a clear, bad message to the women and men at the company who continue to do their jobs well in spite of the overhang of bankruptcy process that has gone on far too long.
Dan Neil, who was lead plaintiff in a federal lawsuit against the trustee for Tribune’s employee stock ownership plan, tells me:
I suppose I’m beyond being horrified by anything having to do with Zell and his corporate crony creeps. Michaels is a guy who gets up early in order to have extra time to say and do stupid things. He is a shameless pig and was a singularly pathetic executive, the master of disaster. Please point to the exceptional performance for which he is being rewarded with a “bonus.”