While progressives may not always agree with the Providence Journal, we ought to at least appreciate its efforts. It’s been said before and it’s well worth saying again: The Providence Journal is the single biggest and best news and information provider in Rhode Island, and everyone here owes it a huge debt of gratitude.
And just as progressives should do when any community institution with such tremendous public benefit is threatened by corporate greed, we ought to be sticking up for the ProJo as its parent company Belo is calling for more staff cuts.
Ian Donnis estimated that 15 full-time employees would have to be eliminated in order to meet the goal of slashing $1.2 million from the daily newspapers bottom line.
Meanwhile, A.H. Belo reported profits of $262,000 in the second quarter. Third quarter profits will be announced on Monday. (correction: An earlier version of this post incorrectly cited Belo TV second quarter profits.)
And remember back in March when Belo executives gave themselves some pretty big raises? Here’s what Ted Nesi reported then:
The compensation committee of A.H. Belo’s board of directors awarded the largest increase to CEO Robert Decherd. His annual base salary will jump 25% to $600,000 in April, the Dallas-based company said in an SEC filing. Decherd is chairman of the board.
In addition, A.H. Belo said Dallas Morning News publisher Jim Moroney’s base salary will increase 15.5% to $540,000; Chief Financial Officer Alison Engel’s will increase 8.3% to $325,000; and senior vice president Daniel Blizzard’s will increase 12% to $280,000.
Those four employees alone could come up with enough spare change to save every job at the Journal. But instead of four Dallas-area fat cats taking pay cuts, another dozen young Rhode Islanders will be out of jobs.
A community institution?
More like a dying institution. I think you’re dreaming if you think executive pay cuts will save the Journal. It may stave the inevitable off but to blame it on trickle down economics is intellectually dishonest. Look around and you, of all people, can see print is going the way of the 8 track and VCR.
New Englanders ran the Journal better. They cared more; they were more connected. Edward Achorn is the pro-consul for the home office in glorious Dallas. Hail, Dallas!!
He, more than any individual, took the paper from a legit entity, to which I subscribed for decades, to its present shadow of a form.
Vote against, not only my better instincts, but any semblance of fair play with regard to your local schoolteacher, which was I (me) at one time? Please.
Maybe the Journalistas should adopt the example of Bob Kerr and stand for something.
He remains readable and credible to this day, and I doubt that it’s been easy for him.
All I can remember since I cancelled my subscription (or was it a prescription – Ambien?) were all those editorials with the writers pontificating about “buggy whips”. If Henry Anthony were around, I wonder how he would feel about all this. Gosh, those were the days! Weren’t they?