Although former Chief Financial Officer Larry Miller retired five years ago, he's still entitled to steer thousands of dollars in Gannett Foundation money to pet charities -- including religious groups that would be ineligible under rules for average employees. Seems like Miller can afford his own charity: After all, Footnoted.org says, the retirement package he extracted from the board of directors pays himaccording to U.S. Securities and Exchange Commission documents. (Totally buried under the illicit-sounding subhead, "Certain Relationships.") The foundation gave Miller a $20,000 spending allowance last year, under a benefit available to only a handful of well-paid current and retired executives. Of that, he directed $5,000 to Gospel Volunteers/Camp of the Woods in Speculator, N.Y., according to the foundation's 2007 public tax return. The Christian family resort and conference center in the Adirondacks says on its website:
"The mission of Gospel Volunteers Inc. is to present the Biblical truths of Jesus Christ, develop Christian leaders, strengthen the faith of individuals and families, and promote global evangelism.'' Noted: the list of summer 2009 speakers.
(Confidential to Miller: Whatever happened to Christian charity?)
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These consultant for life deals are pure horse manure. Can anyone document what kind of advice this guy had made to the company since he was ousted for Gracia Matore? Could the Gannett Foundation possibly underwrite a non profit group to investigate why Mr. Miller is earning more in retirement than he was when he was on staff? $600,000? That's three Dubow annual pay cuts!
ReplyDeleteEven better, if his "advice" got us where we are, that's where this deal really looks awful. How much does Larry Miller really know about newspapers' future in the digital age? I'd love to hear about some of his contributions. The SEC docs from a previous post note that he must contribute "half time" each year for consulting [the] services.
ReplyDelete"You agree to work approximately one-half time in providing consulting efforts under this Agreement. In the event you are called upon to devote more
time than that to the Services, then you and the Company will reach an equitable adjustment of the consideration to be paid under this Agreement."
....and we wonder where the money is........ LOL!
ReplyDeleteThis is just so sad. What a bunch of crooks. Did any of them go to school with Blagojevich?
ReplyDelete