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Front Page News arrow Newsflash arrow Bankrupt Tribune gives bonuses after berating AIG
Bankrupt Tribune gives bonuses after berating AIG Print E-mail
Written by John Frisby   
Thursday, 14 May 2009
May 14, 2009 Two months after denouncing a troubled financial company for doling out hefty management bonuses, a bankrupt news media company is doing the same thing.

Money for nothing?” blared a Chicago Tribune editorial in mid-March, responding to news that American International Group Inc. planned to give $450 million in bonuses to its top executives during a very public federal bailout.But this week, the Tribune Co. - which owns the Chicago Tribune, the Los Angeles Times, the Baltimore Sun, the Hartford Courant and other dailies, along with 23 TV stations - received permission from a Delaware bankruptcy judge to pay out $13.3 million in bonuses to some 700 local and corporate managers.The payouts come as $2.7 million in severance pay to 68 employees who lost their jobs last year remains frozen.

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Last Updated ( Thursday, 14 May 2009 )
 
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