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.
*******Copyright 2009. All rights reserved.
Contact Steve Collins at scollins@bristolpress.com
12 comments:
Hope Bloomie does more and better than he did with Bristol's CLP overcharge problem!
Blumenthal will do better because he won't have to rely on bad info from Kenny!
By the way, what is the status of the lighting overcharge?
He needs to do something about Circuit City and their little sales scam they are running too. They keep raising prices and promote 10-70% off going out of business sale. Don't fall for it! You'll get better deal online or at Best Buy, I guarantee it. It's a ripoff scam and you cant make any returns on the purchases, even if they are defective. Every time they raise the dicount amount, they also reprice everything and raise the price. I've seen it twice myself over the past few weeks. Walked out both times.
Bite their ankles! LOL
a couple articles about circuit city: http://www.live-pr.com/en/connecticut-better-business-bureau-cautions-r1048261663.htm http://www.wfsb.com/money/18777980/detail.html
4:23 ask Johnson !
5:54
Isn't that the responsibility of the Mayor and Council?
After all, the city is paying him.
Go Dick! You're doing an outstanding job and we're lucky to have you in office as our watch dog. Thanks for sticking up for the little guy instead of big business.
He's just an anklebiter.
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