"Eh, alternate media - it's just a passing fad!"
Posted on 12/21/2011 5:44:04 PM PST by NormsRevenge
Janet Robinson, who will step down as chief executive of the New York Times Co on December 31, will receive an exit package in excess of $15 million, according to people familiar with the situation.
In addition to a $4.5 million consulting fee, the Times Co will pay Robinson $10.9 million in pension benefits that she accrued over 28 years of service, they said.
According to a regulatory filing, Times Co's policy previously stipulated that Robinson, 61, would not be eligible for full pension benefits until she was 63 and had been with the company for 30 years. But people familiar with the matter said the Times Co agreed to pay out the full amount as part of her separation agreement.
A Times Co representative declined to give any more details on Robinson's departure beyond the statement issued last Thursday, and did not make her available for comment.
Taken together, Robinson is walking away with just under $15 million exclusive of the value of the stock options she accumulated over her tenure with the company. The details of her severance agreement, which would also include her base salary, performance bonus, and stock options, are expected to be disclosed in the Times Co's 10K regulatory filing in March.
News of Robinson's severance agreement comes during the same week that a wave of buyouts hit the newsroom of the flagship New York Times and the company disclosed that it was in talks to sell 16 regional newspapers to Halifax Media Holdings. More than a dozen newsroom staffers reportedly took buyouts, among them well-known bylines including sports writer George Vecsey, metro columnist Clyde Haberman, and business reporter Diana Henriques.
(Excerpt) Read more at news.yahoo.com ...
and they wonder why they are going downhill, jeesh.
I hear the Wash Post is having hard times too
SSSooooooooooooo ssaaaaadddd..... NNNOOTT
No problem. The NYT can come up with $15M real easy — all they have to do is sell about 15M shares of company stock.
I’m confused.
Does the NYT have $1 million? Let alone 15 of them?
They can just fire some more people.
Oh my even liberals get golden parachutes that all those bad business’s do for their CEO. Cost a lot of money to get rid of a woman that ran the paper into the ground...Guess all the lay off’s were so she could get her millions....
Good thing she be getting 15 mil. Those stock options may not be worth much!
Ahh... So she was fired.
In addition to a $4.5 million consulting fee, the Times Co will pay Robinson $10.9 million in pension benefits
I'll bet the hundreds of newsroom staffers and others who have been laid off during the past several years are very happy for Janet Robinson. Of course, I am laughing at them. I hope everybody associated with the Democrat newsrooms lose their jobs, their homes, and their families. For what they have helped their Democrat newsrooms do to America for the past 50 years they deserve nothing less.
The question to be asked is....... can the bankruptcy trustee claw back the money paid to her
Hmmm. Will the MSM scream about ‘Golden Parachutes” when it comes to one of their own?
Life among the fierce advocates for the 99%
Liberals are always pointing the other direction when their corruption is mountainous. Wonder is she marched on Wall St?
Merry Christmas
If I could, I would piss in their corn flakes, each and every morning.
May piss be on them.
I wouldn’t pay fifteen mill to have the entire NYT workforce killed by the Mob, let alone pay one of them to go away.
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lol
It won’t fly through a helicopter windshield, but fun nevertheless.
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