Lee CEO gets $500,000 bonus for refinancing work

Mary Junck

Lee Enterprises exited bankruptcy in late January after refinancing about $1 billion in debt. (Higher interest rates ahead!) For her work on the refinancing, Lee CEO Mary Junck is getting a $500,000 bonus. Lee’s executive compensation committee also approved a discretionary $250,000 bonus for CFO Carl Schmidt. || News of the bonuses comes just as Lee-owned Helena Independent Record lays off staffers.

* Post-Dispatch parent’s refinancing nets Junck $500,000 bonus

Comments

comments

4 comments
  1. Arthur said:

    A half-million for driving a company into bankruptcy. What a country.

    With the money saved by laying off staffers, she can get a new iPod.

  2. Bill Reader said:

    Newspaper companies used to condemn robber barons. Now they create them from within.

  3. Mark said:

    “Save the workers of the world unite speech! I heard it too much growing up!”

  4. NtS said:

    Lee newspapers operate with bare-bones (and worse) editorial staffs, even the ones that make a nice operating profit, which of course goes directly to corporate HQ, with the vig siphoned off by people like this woman.