Thursday, October 29, 2009

Boston Globe publisher retires after paper nearly dies

Robert MacMillan writes:

In the press release, the Times Co noted the two Pulitzer Prizes that the Globe won under Ainsley’s reign. It didn’t mention that other thing that happened this year, which was the Times threatening to close the paper unless unions buckled and agreed to millions of dollars in concessions to stem outrageous operating losses that could have hit $85 million this year. ...

By the way, it looks like Ainsley is eligible to receive a $1,215,927 departure package of sorts. That is the total of various restricted stock units, deferred compensation and retirement benefits listed in the Times Co’s most recent proxy filing with the Securities and Exchange Commission. I asked a Globe spokesman whether Ainsley will take that money, or whether he’ll leave any of that on the table in the spirit of the Times asking Globe employees to allow their benefits and pay to be cut.

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