Tuesday, March 16, 2010

New York Times CEO paid 4.9million... Didn't the NYT Write Stories on AIG and other CEOs Getting Big Bonuses?

(AP) - An analysis by The Associated Press shows that New York Times Co. CEO Janet Robinson got roughly $4.9 million in compensation in 2009.

Robinson's base salary fell 4 percent to $962,500. But she got a bonus of about $2.3 million, four times the size of her 2008 bonus.

Robinson also received stock options that were worth $1.6 million when they were granted. About $560,000 of that was meant to replace options that had been given in 2008 and were later voided because they exceeded a limit set by company bylaws.

The AP's executive pay calculation, based on a regulatory filing, aims to isolate the value the company's board placed on a CEO's compensation package. The figure includes salary, bonus, incentives, perks and the estimated value of stock options and awards.

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(NYT) The New York Times plans to eliminate 100 newsroom jobs — about 8 percent of the total — by year’s end, offering buyouts to union and non-union employees, and resorting to layoffs if it cannot get enough people to leave voluntarily, the paper announced on Monday.

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