Academic

UNION GOES AFTER GREEDY CAPITALISTS OVER EXCESS PAY: Those paydays that New York Times Co. Chairm?

By Glenn Reynolds

UNION GOES AFTER GREEDY CAPITALISTS OVER EXCESS PAY:

Those paydays that New York Times Co. Chairman Arthur Sulzberger and President Janet Robinson received last year are once again coming back to haunt them.

The Boston Newspaper Guild, which absorbed more than $10 million in pay and benefit cuts to members last year in order to save The Boston Globe, has lashed out at the Sulzberger and Robinson 2009 bonuses and are demanding their lost wages and benefits be restored.

“We were astonished to learn that the two of you received more than $10 million in stock awards and options in 2009,” the Guild wrote in an open letter urging its members to send to Sulzberger and Robinson. “During the year for which you were so richly rewarded, the 600 members of the Boston Newspaper Guild gave back almost the same amount in pay and benefit reductions — $10 million to be exact — after you threatened to close our newspaper, lay off hundreds of people, and strip Massachusetts of its largest newspaper.”

Generally, what they condemn in others is what they’re doing themselves . . . .

Full post as published by Instapundit.com on March 27, 2010 (boomark / email).