I remember how some journalists were outraged in 2004 when Tribune paid retiring Publishing division president Jack Fuller a one-year consulting fee of $618,000. On Thursday, the New York Times Co. disclosed that retiring CEO Janet Robinson will get $4.5 million for a year’s worth of consulting. || Here’s what some of my Facebook friends and Twitter followers said about that:
The company’s stock price drops from around $50 a share to around $7 a share while you are CEO, and $4.5M in one year is your reward?
Revolting. Remember the Boston Globe’s union concessions a few years back, which went to feed the dual Robinson-Sulzberger maw? OCCUPY.
And how much did the paper lose over that 7 years?
Given the current state of the industry and the many fine reporters, editors and others whose jobs have been cut in recent years, this is just disgusting.
The 1% takes care of the 1%.