Thursday, March 8, 2012

What’s Wrong with this Infographic?

Golden Parachute

“The tenures of two recently departed CEOs—Janet Robinson of The New York Times Company, and Craig Dubow of Gannett—coincided with the most financially devastating period in the history of newspapers. And few would consider either executive’s tenure a success.

“In Robinson’s seven years at the NYT, the stock plunged more than 80 percent, and the company had to be rescued with a quarter-billion-dollar loan from Carlos Slim, the Mexican business mogul. It cut staff, sold 16 of its smaller newspapers, and, as of the third quarter of last year, posted cumulative earnings of negative $29 million since the start of 2008.

“Upon her exit, Robinson got a $21 million golden parachute, according to Bloomberg News, including $4.5 million for a one-year consulting contract. The company added extra benefits to Robinson’s $10.9 million pension, which accumulated over 28 years. It then froze some employee pensions a week later, sparking a mini-revolt, with more than 500 current and former Times employees signing an open letter to the chairman, Arthur Sulzberger Jr. The Times paid Robinson $5.3 million in 2010, including some retirement benefits.

“Compared to Gannett, though, the Times looks austere: In October, four months after handing 700 employees pink slips, Gannett gave Dubow a $37.1 million package, also accumulated over decades. He earned a mere $9.4 million in 2010, some of which padded his retirement package. A few weeks later, the company announced it would force employees to take their fifth unpaid furlough in three years.”

—Ryan Chittum, reporter,
Infographic: What’s a CEO Worth?
Columbia Journalism Review, March/April 2012

• Editorial Comment: I’ve just gotta take up parachuting.

• Ape: Did you miss yesterday’s WORDs from 18th century German scientist Georg Christoph Lichtenberg, on reading? Click here.

• Faculty Wanted! The JCOM Department at Utah State is taking applications for a multimedia instructor, teaching our new required multimedia class and assisting with the Aggie TV newscast classes. For full position description, click here.

News from our award-winning student news site, The Hard News Café
P&Z renews conditional-use permit for Richmond family’s pigs, by Chris Lee
‘Oh the places you’ll go’ in March might include Hyrum’s library, by Tara Alvey
Despite crippling illness, artist still finds—and shares—beauty every day, by the staff of The Blue Streak
CHaSS students pitch in to help each other, tout liberal arts education, by Kristi Ottley
JCOM Scholarships for 2012-13. Deadline: April 2
USU hosts 4th annual regional public relations conference, by Allie Jeppson
The Aggie TV News Team (March 2 edition). Bookmark ATV News
Ancient history not only about cave men, archeologist tells crowd, by Josh Ruggles
Mechanic can get out of his wheelchair, back under cars again, by Steve Kent
‘Out of Iraq’ to bear witness those affected by war on conflict’s 9th anniversary

PeezPIX by Ted Pease
Catalog here.

Dr. Seuss weeds.


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