Signs of the times

I have been in the media profession since the day I started working in 1968 and I am incensed by an article I just read in The New York Times, with this headline: “Big Paydays for the Chiefs In the Media.”

The $4.8 million man

The networks and newspapers have been firing thousands left and right for the past year plus, but executives, including Janet Robinson, CEO of The New York Times, and Arthur Sulzberger Jr., the chairman, respectively earned 26 percent and 171 percent more in 2009  than the year before, The NYT story reported.

I personally know reporters who feared for their jobs at The Times for months on end, talented reporters who  earn about 4,800 percent less than Arthur’s $4.8 million salary.

Arthur and Janet had to cut costs because the paper’s ad revenue was sinking fast. Why didn’t they take pay cuts themselves, keep more people employeed and try to figure out what to do with their flailing enterprise?

Overblown egos, combined with dwindling business savvy, stupefy–and sadden–me.

7 Responses to “Signs of the times”

  1. Helen Kenney Poore says:

    Which is why I’m so fed up with Wall Street. I am a small business owner and I can tell you here on Main Street when revenues are down, we don’t fire employees or cut salaries until we have exhausted every other option.
    When the retail sector was hit hard, the first thing I did was stop taking a salary. Now, every business guru will tell you “pay yourself first”, but I feel responsible for 5 other women, and I am not going to pay myself first and lay one of them off.
    Thankfully, things are looking strong again, but I will always support Main Street owners first.

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    • Geri says:

      Hi Helen,

      Your actions warm my heart.

      Fondly,
      Geri

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  2. pinar says:

    more stupefying is.. when their workplace goes bankrupt and they may transfer to other enterprizes for higher payments…
    happens here too..

    I like the last sentence.. overblown egos they drive me mad though..

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  3. Susan says:

    It’s bad, all right. I’m on the verge of giving myself a stroke every time I think about stuff like this…which is every minute on the minute (it seems). Fuming. Yes.

    Glad you bring it to attention of those who don’t know…

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    • Geri says:

      It is infuriating. You’re welcome, my dear Susan.

      G.

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  4. LPC says:

    Wow. That’s bad.

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  5. Marjip says:

    It’s disheartening for so many who contribute their energy, time, & souls into their jobs & then lose them so that those who benefitted from their efforts the most, can have more money. Such gluttony! Such wanton disregard for ethical business practice. It stupefies & saddens me too.

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