Wednesday, April 08, 2009

Saving the Globe Millions, Instantly

Ask the execs to give their bonuses back.

Outrageous - they'd ask the poor schmucks loading the buses take huge benefit and pay cuts, many of them to lose their jobs, all the while they take large bonuses in years their business is tanking.

There's only one solution to the Boston Globe. Local ownership. If the NYT won't sell the paper, even if it's for next to nothing, it probably should close. Maybe a new one would take its place?

The unions should hold strong in making sure that the NYT's executives cough up all that bonus pay and take significant (50%?) cuts in salary. The publisher of the Globe, for example, probably doesn't deserve $1.9 million this year, plus the hundreds of thousands in bonus pay and stock options. The deeper one digs in this mess, the worse the Times and Globe management smells.

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