Even with the profits from its scam Kaplan correspondence courses, the Washington Post company performs just as dismally as an investment as it does as a newspaper. But that hasn’t stopped publisher Katharine Weymouth from earning a “base salary” of $625,000 per year along with another half-million or so in bonuses and stock. Meanwhile, throngs of actual reporters and editors from the newspaper are dismissed with seemingly weekly regularity, and the paper continues to fail miserably both as a journalistic enterprise and a business. But Katharine is the “granddaughter of the Post’s legendary Katharine Graham,” so what the hell, just shovel a million dollars into her offshore accounts every year. She probably really needs the money!
Companies craft their own formulae to define good performance, but – from the outside – The Post’s performance isn’t impressive. The Post’s stock declined 1.38% in 2010, trailing the S&P 500 by 10 percentage points. Taking dividends into account, it returned just 2%, trailing the S&P 500 by 13 points. It’s not doing much better so far in 2011, considering a decline of 0.47%.
Besides Weymouth and her uncle, Chairman/CEO Donald Graham, (who once again declined both a raise and a bonus), the proxy indicates that there are a couple of other family members who are helping out at either The Post or one of its subsidiaries. Katharine Weymouth’s mom, veteran journalist Elizabeth “Lally” Weymouth, left Newsweek after The Post sold the magazine last fall and is now an Editor-at-Large at The Post, earning a base salary of $300,000 per year. And Donald Graham’s daughter, Laura O’Shaughnessy, is working as the CEO and president of a Post subsidiary, Social Code LLC. According to the proxy, she got a $40,000 bonus for her work last year and will earn a base salary in 2011 of $150,000.
At least Richard Cohen and Charles Krauthammer are safe in their positions! Wait, what? [Footnoted via Wonkette Champion Operative "Matt N."]
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That's the American Way, Pilgrims.
Meanwhile, throngs of actual reporters and editors from the newspaper are dismissed with seemingly weekly regularity, and the paper continues to fail miserably both as a journalistic enterprise and a business.
Yeah, but they hired Jennifer Rubin.
Such a coup! Shirley this is worth a million dollars?
P.S. To earn her next bonus, Ms. Weymouth will hire the old rusted-out camper™, America’s most trusted journalist.
~
"To earn her next bonus, Ms. Weymouth will hire the old rusted-out camper™, America’s most trusted journalist."
Win.
On second thought, maybe the camper is the Onion-mobile.
On third thought, nah.
Didn't you know? Paying the people at the top more while firing the bottom grows teh pie higher.
The Washington Post – a microcosm of the nation.
Shouldn't they change the title of the paper to the Post-Nepotist?
Then the NY Times would have to change it's name too.
OK, I'm easy. The New York Times-Nepotist. Done.
To save ink, "Washington Nepostist."
Now there is a boy with a head on his shoulders. Saving the company money see. You keep up the good work boy and you'll earn yourself a promotion, not right now because money's tight but just as soon as the economy turns around you'll be due for a raise. (aside) Fire that smartass fucker.
How much did Dana Milbank get for screwing up?
Her performance probably was coming up with the idea to close some bureaus and lay off some staff. Because based on the editorial content, they should have trailed the S & P by a lot more.
Ah, but their fake university and standardized testing prep classes are very successful.
You tell your publisher, tell Katie Graham she's gonna get her tit caught in a big wringer if that's published.
Ah, John Mitchell. Richard Nixon's answer to the question, "Who can most criminalize the Department of Justice?"
I belive that it was LBJ himself who made the famous tit in the wringer comment.
Fortunately she's helping the rest of America by paying a huge chunk of that $1M "plus" in taxes.
By the way, that "plus" is another MILLION: In addition, Ms. Weymouth received $1,053,441 based on achieving pre-established goals under the WP Media Three-Year Long-Term Incentive Plan …
True. I was averaging 2008-2011 but what the hell, I changed the hed to $1.6m.
Pre-established goals. What were they? Tying her shoes without assistance? Putting her bra on frontwards? Sleeping with her eyes closed?
And yet, the Stopper Shopper still shows up, all soggy and gross, in my driveway every week.
Can't explain that.
With a little luck, the winner of last fall's pundit contest will turn it all around.
For my bonus this year I got a "nice job," more work, more responsibility and a potential cut in pay. That was my reward for potentially saving my employer a hundred grand — not that I'm bitter.
Every time your pay gets cut, you save your employer even more money!
Yeah, where's your LOYALTY, Wookies?
He should man/woman up. Quel wuss!
You can't see it 'cause I'm riding on it — like those footprints in that horrible poster. Anyway, it's an I-have-no-right-to-work state. My loyalty increases the closer I'm shoved towards the helicopter door.
Boose parties every other night (on average) and $150 steaks (imported) for everyone!
If the concept of "shareholder value" as trumpeted by Jack Welch, formerly CEO of no-tax GE wasn't such a fraudulent metric of the success of a company I would say that any executive who destroyed shareholder value as well as those in the Graham family might not deserve a bonus.
You don't get the fat paychecks for results. You get them for kissing ass properly.
If they were smart like the Times they would sell out to some crazy cult leader who does mass divorces in stadiums…
TEAR DOWN THOSE CROSSES!!!
Things are different at the top, son…
Seems the only up for the WaPo is the fact that some parakeets get constipated if there isn't a fresh WaPo editorial page upon which they can place their parcels. Hence the name WaPoop.
Elizabeth “Lally” Weymouth … is now an Editor-at-Large
Editor at large, eh? What's the bounty I get if I bring her in to justice?
And can they tell if she's dead or alive?
K-Lo was hoping to get this title, but only got "Large Editor".
You know, if she actually succeeds in destroying the Post, that is pretty cheap.
I will happily run the Post into the ground for 2/3s of her salary. And I'll just force them to hire two people – my brother the editor and my wife the librarian. All in all we are talking about saving at least a million dollars.
Hey, they have to suck off the teat as long as they can before it runs dry for good! It's what Katherine would have wanted.
And Unca Donald is getting wittle Katie a pony next year! She's his favoritest niece!
"reactor core stuffing" = win
Completely, but I already voted for rusted camper as Americuh's most trusted journalist. Then again, I live in Chicago, so I can vote early and often. (Apologies to all my fellow native Chicagoans. Our reputation for political corruption exceeds our conviction rate for corrupt politicians. Okay, not by much, but still…)
11 herbs, spices, and IQ points.
I give them zero page views these days. ZERO.
Hey! No one was indicted nd Kaplan was not shut down.
How much more could you want?
NEEDZ MOAR SALLY QUINN DRAMAS
"Sell Krauthammer for food"
We're gonna need more than three ketchups for this.
The GOP just wants to bring back the values of hard work, entrepreneurism, and pulling yourself up by your bootstraps.
Or, you know, inheriting – tax free – a large corporation or a huge fortune.
Ms. Weymouth deserves an award from the Sierra Club. Declining newspaper readership on her watch has saved lots of trees.
It's something when you can make the Sulzbergers look like refined old money.
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