(Washington) Post Buyouts Come With an Emotional Cost (Dinosaur Media DeathWatch™)

The Washington Post ^ | May 26, 2008 | Howard Kurtz

[Anti-Bubba182]

That scene was a Scream!

[Moose Dung]

Hah!!

[agere_contra]

Look Kurtz, if you produced a product that “matters” you wouldn’t be going out of business and all those fine people would have no problem making a living

Very well said.

[abb]

Another dinosaur flouncing about and caught in the tar pits. Check out the comments section.

http://www.news-journalonline.com/NewsJournalOnline/News/EastVolusia/evlEAST11HEAD02052408.htm

May 24, 2008

Cox objects to N-J execs payouts
By JAY STAPLETON
Staff Writer

DAYTONA BEACH — Cox Enterprises has asked a federal judge to toss out severance packages worth more than $13 million for top managers of The Daytona Beach News-Journal.

The motion filed Friday by the newspaper chain and minority owner of the News-Journal comes at a time when the two parties have agreed to work together to sell the newspaper. Cox officials say they did not learn of the severance packages — most completed in November 2004 — until after the selling agreement was reached this month.

The severance packages, Cox contends, could create a $13 million liability for any buyer, lower the value it receives for its 47.5 percent share and create a “management vacuum” if top managers leave the company.

A statement from the Davidson family, which owns the majority of the 80-year-old newspaper company, said they would oppose the request.

“The News-Journal and the Davidson family have a history of putting their employees first,” the statement said. “Indeed; no member of the Davidson family has a severance package to fall back on.”

In the motion to set aside the severance agreements, attorneys for Atlanta-based Cox said the News-Journal Corp. entered into agreements with company officers Georgia Kaney, David Kendall and 27 other top managers.

For Kaney and Kendall, the packages call for six times their annual average gross wages and could exceed $5.4 million total, Cox lawyers said.

For the other 27 managers, who were not named, the packages call for three times their annual average gross wages, for a total in excess of $8 million and an average of $300,000 per manager.

snip

[Donald Rumsfeld Fan]

In a note to the staff, Weymouth, a granddaughter of Katharine Graham, said: "The ways in which we break news and tell stories will continue to evolve and change as technology and readers' habits evolve and change.

The mission facing The Post is much like that at other papers: ........ Newspapers were painfully slow to comprehend that the old regimen of dull, insider stories and mediocre features had to change and be packaged more creatively.

The Global Warming packaged story is an example of media's fundamental problem. Instead of reporting the facts they tell us bedtime stories. Many false.

The internet puts the vast unwashed masses in charge of the "story" instead of elite gate keepers. And that will lead to a "story" that is more closely aligned with the objective truth.

[Political Junkie Too]

Macaca.

-PJ

[abb]

http://www.youtube.com/watch?v=Lons6zMgJQE&feature=related

[Gaffer]

....But -- and stop me if you've heard this one -- newspapers matter. There isn't a Web site around that can produce the probing work.....................

Bwaaaahaaaaahaaaaa! This is without a doubt the biggest pile of dinosaur excrement from a useless Democrat Party shill mill that I believe I've ever seen!

[mimaw]

Howie please don’t fret there are plenty of lefty web sites out there to make up the same $hit you and your fellow so called journalists have been dishing out on the front pages of your newspapers.

[Chode]

[Doctor Raoul]

Raoul's First Law of Journalism
Applied to the Washinton Post

BIAS + ARROGANCE = BIG LAYOFFS