Comments on: McClatchy’s holiday gift to top executives…

By: aok

aok — Wed, 30 Dec 2009 05:15:28 +0000

Joey, you get rewarded AFTER you turn the company around NOT before. THAT’S the way it’s supposed to work.

By: Michelle Leder

Michelle Leder — Tue, 29 Dec 2009 16:39:01 +0000

@Joey: I can certainly see your point, but Pruitt, for one, has been there for awhile and was the driving force behind the Knight-Ridder deal. RSUs that vest after two years are certainly better incentives — or at least more closely aligned with shareholders — than other things, but the bottom line remains that this company’s management — and management at other newspaper companies — missed the boat and there’s over 40,000 journalists out on the street because of that!

By: Joey

Joey — Tue, 29 Dec 2009 16:25:33 +0000

I dunno, I’m not sure I have an issue with this. They’re getting fat packets of RSUs, but the shares don’t vest for more than two years and the stock is in the tank. In principle, it gives them a strong incentive to raise the share price, and that’s their job– which won’t be easy in an industry like newspapers.

Of course, if these execs have been around for years and presided over the long-term collapse (I don’t know their histories), then this specific example might be stupid since the brass should be fired. But in principle, the company is in the tank and the C-suite’s bonus has been tied to that, so they’ll try to get back out of the tank. That’s the way it’s supposed to work.

By: Frank Graham

Frank Graham — Wed, 23 Dec 2009 17:21:33 +0000

Pretty sad about paper chase. Lawyers axed too & we know who goes first.
NY Times upgraded & at 52 week high. Cuts must of helped.

CBSMW has a few cutting stories for Holiday Joy around the orb.
You can’t downsize Santa.
Santa Claus is comin’ to town, and he won’t be standing in line at the unemployment office when he does. Despite a rough year on the job front for millions of Americans, jolly old St. Nick still has plenty of offers, although his hours may be getting nicked a bit.

While folks who book Santa for private parties may have had to pare back in the recession, malls and department stores can’t give the red-suited one a pink slip no matter how humbug sales may be in any given year. You can’t disappoint the kids and expect the parents will still stick around to shop.

For most Santas the gig is up after Christmas, but there are still plenty of professional Kris Kringles who make merry year-round at a host of gatherings at hospitals, nursing homes, shelters and other charitable functions. For them the paying customers this time of year are key — the money they make this time of year supports all those gifts the rest of the year.

The biggest qualification for a Santa job: a real beard. To kids, phonies stick out like Rudolph’s red nose.

– Steve Kerch, assistant managing editor/personal finance
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A Christmas tradition under threat in Spain

The annual giving of the Christmas cesta, or basket, to employees from their employers in Spain is facing some changes. The economic crisis here has many companies tightening their belts and that holiday extra this year may be less bountiful or nonexistent for some workers.
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Just in time for Christmas, a greeting card company announces layoffs. And ay Chihuahua! California’s animal shelters are overrun by these tiny pets.