Posted on 03/15/2007 8:25:03 AM PDT by PajamaTruthMafia
Top New York Times [NYT] Co. executives Arthur Sulzberger Jr. and Janet Robinson took in more than $4 million each in compensation packages last year while planning as many as 125 job cuts in Massachusetts.
Even as Times Co. shares slid by nearly 8 percent last year, CEO Robinson’s salary rose 11 percent to $1 million. That brings it “more in line” with the salaries of CEOs at similar companies, the Times Co. said in its annual proxy statement released yesterday.
Sulzberger, chairman and publisher of the company, received a compensation package valued around $4.3 million and Robinson’s compensation was worth about $4.4 million, the statement said.
Michael Golden, publisher of the International Herald Tribune in Paris and a cousin of Sulzberger, received over $1.6 million in compensation, including $31,202 for his spouse’s travel between New York and Paris, the proxy said.
The Times Co. has come under fire recently from union employees at The Boston Globe for planning to outsource a number of jobs to Bangalore, India. The Times Co. owns the Globe and the Worcester Telegram & Gazette.
“It’s unfortunate to see this kind of excessive compensation in the top ranks of the Times company at a time when dedicated, longtime Globe employees are seeing their jobs shipped overseas,” Dan Totten, president of Boston Newspaper Guild representing more than 1,000 Globe employees, said in a statement.
The Times Co. wrote down the value of the two broadsheets by a total of $814.4 million recently.
The company paid nearly $1.4 billion for both papers combined.
Salaries for Times Co. executives will stay the same in 2007, the company said.
Sulzberger asked that his annual bonus in 2006 remain the same as the previous year, which was $560,521.
Punch gave his trust baby an encephalitic old grey hag to make Pinch feel important.
"We will talk more next week when I return."
Of course security will have cleared all those who have been fired or taken early retirement out of the office and building.
It's Boston Globe's turn to be Bangalored
WASHINGTON: Outsourcing of jobs to India has been making news in the US for some time now. But what happens when the media which has been reporting this news finds the jobs of some of their colleagues are being outsourced?
Well, some Bostonians have been Bangalored, and they have gone ballistic. The 1,000-strong labour union at the Boston Globe newspaper began a heated campaign this week against their publication (owned by the New York Times Company) by launching an ad campaign in a rival newspaper protesting the outsourcing of their work to India.
"It's the Boston Globe, not the Bangalore Globe!" is the plaintive cry in an ad issued by the union in the Boston Herald on Monday, after the Globe declined to run the advertisement.
The union has also issued radio ads. The spat began after the New York Times Company decided recently to cut 120 jobs at the Globe and outsource the work of some 50 personnel in the advertising and circulation departments to Bangalore. The union says the cuts came despite their agreeing to a partial wage freeze and significant cuts in health care benefits. The NYT Company says the job cuts and offshoring of some work are necessary for the financial health of the paper. The union isn't convinced, and in fact, it issued the scarifying loss of privacy warning to subscribers.
"By outsourcing our work, the Boston Globe & New York Times Co. are sending a message that they no longer care enough to retain the very best people to handle customer accounts and client relationships," the ad said, cautioning readers that "Further, billing and account information will now be shipped overseas to Bangalore, India, putting customers' most vital information at risk."
It asked Bostonians to phone the Globe at a number it provided to protest the outsourcing move. While thousands of workers across America have lost jobs because of outsourcing and have faded quietly from the scene, the newspaper union has managed to galvanise some public support.
Last month, the Boston City Council passed a resolution calling the move to outsource jobs at to India as "deplorable."
Globe isn't the first media company to feel the outsourcing cut. There has been considerable disquiet in Reuters over the rapid growth of the company's operations in Bangalore, where Indian reporters cull news from financial statements and quarterly and annual reports of US companies.
American companies continue to look at cutting costs and improving their bottom line by outsourcing back room functions such as pay roll and subscription services — anything that can be done on the phone and computer over long distance.
Now, the media which reports this trend hasn't been spared either.
That is great.
The elite maggots of the NY Slime, the uber liberals, are outsourcing to India.
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