Attorney General Richard Blumenthal, with a keen sense of justice, is promising to try to block a Journal Register Co. request to the bankruptcy court to pay 31 of its key executives $1.7 million in bonuses for continuing to lay off employees and close newspapers, according to the New Haven Independent.
Blumenthal told the online newspaper that the bonuses sought "seem unnecessary and excessive given the apparent financial failure of the company. It cerainly has the appearance of rewarding failure."
And, really, as a matter of public policy, wouldn't it make more sense to reward executives who find ways to keep newspapers -- or any other business -- open rather than shutting them down in the midst of the worst recession in decades? We desperately need both the jobs and the information that even JRC papers provide.
Go get 'em, Dick.
For more, see this.
And for a larger look at the newspaper situation in Connecticut, see this piece in Editor & Publisher.*******
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