[Detail of proxy report's Page 46 breaks down disability payouts]
Peter Lewis, a former New York Times writer and Stanford University professor, uses those four words to describe Gannett's recent pledges to serve the consumer. Now a consultant, Lewis was reacting on his blog yesterday to spreading news that former CEO Craig Dubow is collecting $37.1 million as he leaves the company. Here's Lewis:
How did Mr. Dubow and Gannett serve the consumer? They laid off journalists. They cut the pay of those who remained, while demanding that they work longer hours. They closed news bureaus. They slashed newsroom budgets. As revenue fell, and stock prices tanked, and product quality deteriorated, they rewarded themselves huge pay raises and bonuses.
This is the sort of stuff that causes people to occupy Wall Street and main streets in cities across the country.
Earlier: Also criticizing Dubow's eight-figure payout: Daily Kos, and The Atlantic.