Saturday, March 13, 2010
A regular Horatio Alger story
The New York Post ran a story today about how Arthur "Pinch" Sulzberger Jr.'s pay doubled this year, to $6 million. It sure is good to know that even in this weak economy, there are pockets of success like the newspaper industry.
And it's good to see a guy like Pinch reap the rewards of his hard work. His is an inspirational tale: after bootstrapping himself into the chairmanship of the Times Corporation, he's guided the august "Grey Lady" to record circulation and profits. In fact the Times empire is so vibrant these days that its wholly owned sister publication, the Boston Globe, was absolutely besieged with bids from eager suitors last year.
The rank and file at the Times, who have recently suffered from massive layoffs, a pension plan freeze, unpaid vacations, and a 5% across the board pay cut, must be happy for Pinch.