The publisher of the struggling Washington Post made over $2.4 million last year, and at least three other executives made over $3 million while the left-leaning newspaper slashed benefits for its employees and laid off others.And the paper has gotten noticeably thinner over the last few years. It can't die fast enough.
According to Securities and Exchange filings reviewed by the Washington City Paper, publisher Katharine Weymouth earned $2,436,413 in salary and bonuses last year. Her "haul came from her $625,000 salary, a bonus of $611,413, and a $1,200,000 payment for a 2009-2012 incentive plan." She also "received a 3.5 percent raise this year, with her new salary set at $646,875." She received her raise even though The Post Co.'s share price fell three percent in 2012.
The Post has reduced benefits for its employees while dumping its Ombudsman and slashing jobs after Valentine's Day, while advancing the narrative that CEOs who do the same are villains. The paper has lost subscribers, advertisers, and its stock has gone down by three percent.
And by way of Instapundit, BONUS HYPOCRISY: PBS's Mark Shields: 'The Rich Are the Scum of the Earth'