In an essay today, Huffington Post writer Michael Sigman says the newspaper industry's decimation has meant the elimination of health insurance benefits not only for the tens of thousands thrown out of work but also for the many writers, designers and others now forced to freelance. "Media companies have to make cuts to stay in business," he says. "But rewarding execs with big bonuses for, in effect, taking away workers' health insurance is unconscionable."Craig Dubow's $1.5 million cash bonus last year is all the more outrageous, Sigman says, because the Gannett CEO's own health insurance was sweetened at company expense. Dubow's overall $4.7 million in 2009 pay included $173,850 in "all other compensation" that included premiums for supplemental medical coverage, according to the new shareholders proxy report.
Corporate doesn't detail how much of that was for medical; the report only discloses that $53,900 was for life insurance premiums, $30,380 was for travel accident insurance, and $7,350 was a matching contribution to his 401(k).
That leaves plenty of money for medical, and came during a year when Dubow was out of work for more than four months, recovering from back surgery, even as he ordered up higher health insurance premiums for those rank-and-file employees who weren't laid off.
Against the backdrop of tomorrow's Congressional vote on healthcare reform, Sigman concludes: "Health insurance for all and bonus systems that don't cheat and insult Americans should be no-brainers."
Bastards... I called Caremark/CVS this week because I was so shocked by the copay I was charged for a 3-month prescription. It went from $87 in Dec. to $175 now. Can this be right? Yes, Caremark said. "Some changes were made to the policy..." That $175 is an entire day's pay for me. Before taxes. Nice to know that Gannett made arrangements for its own to be taken care of. Hey, wait a minute...I have Gannett stock. I own a piece of the company. I sure didn't approve sweetening the CEOs already sweet deal at the expense of peons who will now barely be able to afford the copays.
ReplyDeleteYes. This is an insult to employees. It insults the Indiana taxpaying public-at-large, I believe, since the company asked for training grants and other tax breaks. Isn't there someone---anyone---who can clue Indy in to the fact that these jokers got all this money after Gannett asked for tax favors? The Star ain't gonna do it. (Didn't Gannett also either ask for or get tax breaks in Springfield and Louisville?)
ReplyDeleteFrom BEST OF GANNETT 2009, Division II - OUTSTANDING ACHIEVEMENT IN PUBLIC SERVICE:
ReplyDeleteSecond Place: Poughkeepsie Journal -- For an investigation that showed a handful of top county officials received free health care while all other county employees shelled out thousands of dollars a year to cover their share of health-care insurance. As a result of the report the county Legislature voted to require all county officials pay a percentage of the cost of their insurance.
Sounds familiar... right?
Unbelievable! They are just unbelievable! Since my layoff in July I have been on my husband health insurance plan. He works for a small company and pays the bulk of it weekly and with me on it, it is $97 a week out of his paycheck. Plus... no dental! And a $40 copay. Gannett is beyond shame and beyond human
ReplyDeleteMcCorky, Dumbow and Martore have nothing to worry about, despite what happens to healthcare today. They'll have the dough to hire full-time, private nurses and nannies to change their diapers and feeding tubes in their old age.
ReplyDeleteSo Dubow doen't even put 5% in his 401?
ReplyDelete