This is how it’s done (executive bonus style)

Bankrupt newspaper companies are following the lead of AIG and Lehman Brothers and rewarding executives with large bonuses. The Tribune Co. is trying to pay out $13 million in bonuses, the Journal Registers Co. is trying to pay $2 million, and Philadelphia Newspapers has already given hundreds of thousands in bonuses to its corporate officers.”

Ganett CEO Craig Douchebow racked in $3.1 million for his outstanding performance in 2008. If I didn’t know better, I’d say that the newspaper industry is rolling in the money!

I have to hand it to newspaper companies. Since we can longer reward success (due to a lack thereof) we might as well make lemonade out of lemons and reward failure.

It’s a morale booster of sorts. Think about it: What would make you want to work harder and innovate more after your furlough/pay cut than hearing that your fearless leaders are getting bonuses? Sure you might be struggling to pay the mortage on your $40,000 salary, but think about how executives will now be struggling to pay for maintanence on their yachts?

This is an unorthodox strategy for sure, but I have full confidence that giving bonuses to executives at failing companies is the best path forward.

  • Rich

    dude, there’s a virus on your website according to avast. It’s called HTML:Iframe-inf

  • http://www.patthorntonfiles.com pat

    @Rich,

    I found and removed the iframe. Not sure how it got there, but thanks for the heads up.