Monday, April 11, 2011

Add greed to media management stupidity

I've felt for quite a while that a big part of media money problems stems from management stupidity. It wasn't the rank and file that sat back as their viewer/reader base dwindled. It wasn't the copyeditors and reporters who first put news online free. It wasn't the office secretaries who cut the size and quality of news products to the bone.

But it was the rank and file, the copyeditors and reporters and office secretaries who were laid off by the thousands, watched their pay drop and futures mortgaged.

Now comes word that Gannett is facing all staff to take unpaid furlough weeks this year -- but executive bonuses make up for their unpaid furlough weeks. Add greed to stupidity. Gannett, of course, is not alone. How much was that retention bonus Journal Communications paid its CEO a couple of years ago after watching its stock lose 75% of its value?

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