Comments on: Philly Boss: Me First http://citmedia.org/blog/2009/02/23/boss-got-raise-as-philly-papers-tanked-forbescom/ Sat, 24 Oct 2009 22:49:29 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Dan Gillmor http://citmedia.org/blog/2009/02/23/boss-got-raise-as-philly-papers-tanked-forbescom/comment-page-1/#comment-2971 Dan Gillmor Fri, 13 Mar 2009 05:51:58 +0000 http://citmedia.org/blog/?p=1704#comment-2971 I think we should agree to disagree. I don't hate these people. I do loathe their behavior. I think we should agree to disagree. I don’t hate these people. I do loathe their behavior.

]]> By: Joe Zekas http://citmedia.org/blog/2009/02/23/boss-got-raise-as-philly-papers-tanked-forbescom/comment-page-1/#comment-2979 Joe Zekas Tue, 10 Mar 2009 02:41:34 +0000 http://citmedia.org/blog/?p=1704#comment-2979 Dan, That's a pretty impressive display of hackneyed hatred. Raw, ugly, unvarnished hatred and nothing more. Perhaps if you'd lost the millions that Tierney has in this venture you might see his actions as something other than "a disgusting demonstration of greed." Can you make any reasoned argument that Tierney is responsible in any respect for the demise of the Philly papers? Or that the losses he's incurred aren't adequate accountability? Dan,

That’s a pretty impressive display of hackneyed hatred. Raw, ugly, unvarnished hatred and nothing more.

Perhaps if you’d lost the millions that Tierney has in this venture you might see his actions as something other than “a disgusting demonstration of greed.”

Can you make any reasoned argument that Tierney is responsible in any respect for the demise of the Philly papers? Or that the losses he’s incurred aren’t adequate accountability?

]]> By: Dan Gillmor http://citmedia.org/blog/2009/02/23/boss-got-raise-as-philly-papers-tanked-forbescom/comment-page-1/#comment-2978 Dan Gillmor Sun, 08 Mar 2009 00:31:54 +0000 http://citmedia.org/blog/?p=1704#comment-2978 Thank you for finally providing a fact, though the old "comparable enterprises" game is pretty tired at this point. Executive pay has always been about a round-robin of "he's getting that so I deserve xx more than that" and such bogus logic, even when the enterprises differ as much as they may resemble each other. I'd call the Sun-Times' senior executive compensation equally or more outrageous given the fact that they're running a flailing (and I'd bet failing) enterprise -- even though there's a huge difference, namely that they're a publicly held company. The Sun-Times also exists in a market with actual competition, namely the Tribune. Tierney (with investors) owns the Inquirer outright after the LBO; he/they stood to gain any upside from their gamble. It failed, and part of his response was to boost his own pay. It remains a disgusting demonstration of greed, no matter what kind of spin you want to put on it. Newspaper directors should be whacking the pay of their executives, not keeping it at the shameful levels the bosses insist they deserve no matter how badly the shareholders (and soon, lenders) are getting screwed. But then again, they are part of an American corporate culture that demands little or no accountability from the people at the top when things go wrong -- leaving shareholders, employees and the communities in which they do business to clean up the wreckage. Thank you for finally providing a fact, though the old “comparable enterprises” game is pretty tired at this point. Executive pay has always been about a round-robin of “he’s getting that so I deserve xx more than that” and such bogus logic, even when the enterprises differ as much as they may resemble each other.

I’d call the Sun-Times’ senior executive compensation equally or more outrageous given the fact that they’re running a flailing (and I’d bet failing) enterprise — even though there’s a huge difference, namely that they’re a publicly held company. The Sun-Times also exists in a market with actual competition, namely the Tribune.

Tierney (with investors) owns the Inquirer outright after the LBO; he/they stood to gain any upside from their gamble. It failed, and part of his response was to boost his own pay. It remains a disgusting demonstration of greed, no matter what kind of spin you want to put on it.

Newspaper directors should be whacking the pay of their executives, not keeping it at the shameful levels the bosses insist they deserve no matter how badly the shareholders (and soon, lenders) are getting screwed.

But then again, they are part of an American corporate culture that demands little or no accountability from the people at the top when things go wrong — leaving shareholders, employees and the communities in which they do business to clean up the wreckage.

]]> By: Joe Zekas http://citmedia.org/blog/2009/02/23/boss-got-raise-as-philly-papers-tanked-forbescom/comment-page-1/#comment-2977 Joe Zekas Sat, 07 Mar 2009 02:42:13 +0000 http://citmedia.org/blog/?p=1704#comment-2977 Dan, Tierney's compensation - even with the raise - is, as you well know, not out of line with that of newspaper executives at comparable enterprises. Lower, for example, than Sun-Times executives. That's a fact, and it's no surprise to you. Is it your position that newspaper executives' pay across the board is "disgusting?" Dan,

Tierney’s compensation – even with the raise – is, as you well know, not out of line with that of newspaper executives at comparable enterprises. Lower, for example, than Sun-Times executives.

That’s a fact, and it’s no surprise to you.

Is it your position that newspaper executives’ pay across the board is “disgusting?”

]]> By: Dan Gillmor http://citmedia.org/blog/2009/02/23/boss-got-raise-as-philly-papers-tanked-forbescom/comment-page-1/#comment-2976 Dan Gillmor Tue, 03 Mar 2009 15:42:20 +0000 http://citmedia.org/blog/?p=1704#comment-2976 Still waiting for a defense of Tierney that includes even a single relevant fact... Still waiting for a defense of Tierney that includes even a single relevant fact…

]]> By: Joe Zekas http://citmedia.org/blog/2009/02/23/boss-got-raise-as-philly-papers-tanked-forbescom/comment-page-1/#comment-2975 Joe Zekas Tue, 03 Mar 2009 03:21:08 +0000 http://citmedia.org/blog/?p=1704#comment-2975 Selectively presented facts speak loudly to support a particular bias. Braying that a certain level of pay is outrageous doesn't make it so. I'm still waiting for a plausible attack. I know I'll wait forever. Selectively presented facts speak loudly to support a particular bias.

Braying that a certain level of pay is outrageous doesn’t make it so.

I’m still waiting for a plausible attack. I know I’ll wait forever.

]]> By: Dan Gillmor http://citmedia.org/blog/2009/02/23/boss-got-raise-as-philly-papers-tanked-forbescom/comment-page-1/#comment-2974 Dan Gillmor Wed, 25 Feb 2009 18:07:53 +0000 http://citmedia.org/blog/?p=1704#comment-2974 The facts speak loudly for themselves. In a crashing market, where Tierney's gamble failed and he had to take the organization into bankruptcy while demanding all kinds of concessions from everyone else -- and has asked for a (state and local) government bailout -- he and his fellow execs arranged to boost his pay by almost 40% to $850K. I grant that he's not in the Merrill Lynch/Bank of America league with this stuff, but the facts are pretty damning. I still await a plausible defense. I suspect I'll be waiting quite a while. The facts speak loudly for themselves. In a crashing market, where Tierney’s gamble failed and he had to take the organization into bankruptcy while demanding all kinds of concessions from everyone else — and has asked for a (state and local) government bailout — he and his fellow execs arranged to boost his pay by almost 40% to $850K.

I grant that he’s not in the Merrill Lynch/Bank of America league with this stuff, but the facts are pretty damning.

I still await a plausible defense. I suspect I’ll be waiting quite a while.

]]> By: Joe Zekas http://citmedia.org/blog/2009/02/23/boss-got-raise-as-philly-papers-tanked-forbescom/comment-page-1/#comment-2973 Joe Zekas Wed, 25 Feb 2009 02:45:47 +0000 http://citmedia.org/blog/?p=1704#comment-2973 From my perspective, and I think from any reasonable perspective, it's your arrogant, fact-free assault on Tierney's compensation that needs defending. From my perspective, and I think from any reasonable perspective, it’s your arrogant, fact-free assault on Tierney’s compensation that needs defending.

]]> By: Dan Gillmor http://citmedia.org/blog/2009/02/23/boss-got-raise-as-philly-papers-tanked-forbescom/comment-page-1/#comment-2972 Dan Gillmor Tue, 24 Feb 2009 21:42:49 +0000 http://citmedia.org/blog/?p=1704#comment-2972 What they're doing is legal looting, from my perspective. It's only reasonable compared with the stuff the big private-equity operations have been pulling. Feel free to defend it, though. Pls see update, btw... What they’re doing is legal looting, from my perspective. It’s only reasonable compared with the stuff the big private-equity operations have been pulling.

Feel free to defend it, though.

Pls see update, btw…

]]> By: Joe Zekas http://citmedia.org/blog/2009/02/23/boss-got-raise-as-philly-papers-tanked-forbescom/comment-page-1/#comment-2970 Joe Zekas Tue, 24 Feb 2009 03:11:26 +0000 http://citmedia.org/blog/?p=1704#comment-2970 What's morally and intellectually bankrupt is playing the greed card without any serious consideration of the reasonableness of Tierney's compensatoin, the level of his investment, the efforts he's made to preserve a failing journalistic operation, etc. etc. Get off your high horse, Dan, and try practicing journalism again. What’s morally and intellectually bankrupt is playing the greed card without any serious consideration of the reasonableness of Tierney’s compensatoin, the level of his investment, the efforts he’s made to preserve a failing journalistic operation, etc. etc.

Get off your high horse, Dan, and try practicing journalism again.

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