Posted on 04/28/2006 6:28:42 AM PDT by abb
The Washington Post stands to lose some of its signature writers in a new round of buyouts. Among those considering the Post’s latest staff-reduction offer is chief political writer Dan Balz.
“I love the Post and my job,” says Balz, who like other eligible journalists is over age 54, “but like virtually everyone who is around my age at the paper, I’m looking at this. But I have not made a decision and won’t until I’ve been able to sort through things.”
Also weighing the buyout offer is Tom Edsall, who has covered the story of money and politics for years. He describes himself as “eligible and considering.”
Since the buyout offer became official on April 15, reporters and editors have been meeting daily with Post officials to work out the fine points of the deal, considered generous by newspaper standards.
At least two business writers have decided to move on. Jerry Knight, who has covered local business since 1977 and writes Monday’s Washington Investing column, is already booking flights to Paris. Al Crenshaw, 63, is “strongly leaning toward it.” He came to the Post in 1972 and has been writing the Cash Flow column for the Sunday business section since 1987.
Paul Blustein, who covers international business, is eligible, too.
The Post hopes to reduce its staff of about 900 and 1,000 by 80 in this second big round of buyouts. The first round, in 2003, lured many experienced writers off the staff; this second offer could cut into the core staff of writers who have made the Post what it is in the post-Watergate era.
Pulitzer Prize–winning TV critic Tom Shales, 60, is a prime candidate. He’s been at the Post more than 30 years, so he’d get two years’ salary. The deal would add five years in calculating pension benefits, so Shales would get full benefits even though he’s not 65. The newspaper would continue to share medical-insurance premiums, too.
Will Shales take the deal?
“I have to see the figures on paper,” he says.
Al Kamen, author of the well-read In the Loop column, is also considering the buyout offer.
Which raises the question: Who can replace veteran journalists like these?
If Kamen leaves, who will nail the next high-ranking bureaucrat who orders his staff to cut expenses and then jets off to Italy on public funds? After Jerry Knight leaves, who will give readers the scoop on the latest local stock scam? Can anyone else in the newsroom tell the difference between Ollie Carr and Ollie North?
How many Post staffers ultimately will take the buyout package? To increase the pool of potential retirees, the Post dropped the eligible age from 55 to 54. If fewer than 80 choose the buyout, the Post will have to figure out another way to reduce staff.
The deadline to respond to the buyout deal is May 30.
—HARRY JAFFE hjaffe@washingtonian.com More Washington Buzz back to top
April 27, 2006
Dinosaur Media Extinction Alert Ping
HAR!
Ya know....It's Friday (TGIF), it's payday, and now this news.....A Trifecta...
It sounds like they are getting rid of every writer who is not strictly communist at heart.
It's either Buyout or Bye, Out.
But doncha know all the peeps facing buyouts get a sinking feeling in their guts when they glance at their 401k statements. Most of these folks have probably invested heavily in newspaper stocks...
....You want fries with that?
Big Name??? Only if you're an east coast liberal elitist. I've only heard of one of them, and I ignore him.
WaPo Extinction Distinction: Buyout or Bye, Out!
Would anyone notice if they all just went away without these stories? It reminds me of the old going away opuses FR used to have, which were hilarious.
Good riddance to a bunch of water carrying DNC mouth pieces.
1. Take it, run away, and never look back.
2. Hand in papers to roll over your 401 K to Fidelity, Van Guard or some other good fund IRA. Compost Stock will go up a little on your buyout and return to sinking like a rock. Then invest heavily in Haliburton and MDY* to participate in a great economic boom.
Hal = Haliburton MDY = ETF for Mid Cap Stocks
Live in the now, man.
The roaches are scrambling. It's interesting to discover the altruistic, above reproach, journalists are also interested in money and retirement funds.
Then I guess the Post will have to live without its Balz.
But that's nothing new ...
Nice graph.
The good guys go up.
The bad go down.
Life is wonderful.
Call me when they sh_t-can Pincus, VandeiHei & Milbank... I'm 'throwin a party.
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