Here's the memo:
Nov 4, 2010
Belo employees to get bonuses
On news that the company turned a $4.6 million profit in the third quarter, A.H. Belo's board of directors has authorized a one-time bonus for its newspaper employees, including those who work at the Press-Enterprise in Riverside. In a memo from CEO Robert Dechard, employees are told they'll received a bonus of between 1.5 percent and 3 percent of their base salary.
Here's the memo:
Here's the memo:
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10 comments:
Bonuses! Bonuses? Wait a sec, let me see if I remember what those are ... Wait wait! I think I remember ... they sometimes may involve money ...
they also involve a lot of people who are now unemployeed thanks to the brilliant management team. but, atta boy belo.
That's close to 6% for the majority of the households in the newsroom as most are related in one way or another.
They urned it.
wow, that's awesome. Hope other companies (LANG/MNG I'm looking at you!) learn from this.
Actually now that I think about it, Singleton would just pocket the money and pretend there was never any profit.
9:07 Awesome???
Good lord this came on the backs of all the pressmen; part-timers who lost their jobs last week and those for the past two years.
This did not come from smart management or buisness practices.
Awesome???
That those left get a raise while the rest of their colleagues are collecting unemployment.
Just awesome!
Stunning that some think a bonus is awesome. Under normal circumstances, maybe, but, this industry hasn't been normal for a good fifteen years. As a couple of people have mentioned, throwing who is left a bone on the misery of past colleagues doesn't equal awesome in my book.
9:07 a.m. I totally understand your response. I work for LANG and get pooped upon daily. Us LANGers don't even get the pity bone. We get sniff at our masters boots as they present the bones to Sire Singleton so he can make broth ... which he'll serve off our backs.
But honestly, what the PE seems to be saying with these bonuses is, "We may have set our own house on fire, but lookie! We got insurance money? And it's more than we expected! You want a couple bucks?"
You know what really pisses me off?
Belo didn't even send me a thank you card. They asked me to take the year off to help them save money and... nothing!
Ingrates!
We're having broth?
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