Journalists at Lee Enterprises’s flagship newspaper, the St. Louis Post-Dispatch, haven’t seen raises since 2008, but Lee’s top execs continue to run to the bank with big bonus checks.
On Friday, Lee’s executive compensation committee gave CEO Mary Junck a $700,000 bonus, while CFO Carl Schmidt received $400,000.
What did they do to deserve that?
Lee, which reported an 18% profit decline in February, has regularly given raises and bonuses to Junck and her associates while the company lays off journalists, including the top editor at its Provo paper. In 2012, the Post-Dispatch’s leading columnist advised Junck to put more distance between her layoff announcements and her bonuses.
Lee spokesman Dan Hayes has never returned my calls, but I rang him up today anyway and got voicemail.
UPDATE: Read what my Facebook friends are saying about the bonuses.