The Internet’s Journalism Slaughter

It’s like watching Ted Bundy in action:

In late March, Lee Enterprises CEO Mary Junck and CFO Carl Schmidtwere given six-figure bonuses for refinancing the newspaper chain’s considerable debt. At the same time, Lee was laying off journalists at several of its papers.

A.

3 thoughts on “The Internet’s Journalism Slaughter

  1. montag says:

    Why, yes, of course a newspaper can do without reporters, but it can’t do without the business expertise of the CEO, the expert manager, the person who understands Wall Street.
    And where did that “considerable debt” come from? Borrowing from Wall Street to satisfy the determination of Lee’s CEO and CFO to buy the Pulitzer group of newspapers, which sent it into bankruptcy, and because of that, its stock is trading very close to the penny stock level. Now that Lee’s out of bankruptcy, they, of course, feel the need to be rewarded for their recklessness.
    No doubt about it–capitalism’s a serial killer…

  2. MapleStreet says:

    Dumb question: How likely is it that restructuring the debt and the details of how to do it actually originated with the CEO = vs – the CEO came in with blood on their fangs and they hired someone (at a much lower salary) with downsizing and restructuring experience to do the details.

  3. pansypoo says:

    butbutbut failure MUST be rewarded! wall street says so!

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