NYT golden geese wield wicked axe

While the New York Times slashed another 100 from its newsroom payroll and faced a $50 million shortfall and five top female executives were shown the door, Times vice chairman Michael Golden gets $2 million a year despite his reduced role at running the Human Resources department, the perks of being publisher Arthur Sulzberger, Jr.'s cousin.

CEO Mark Thompson gets $4.5 million for doing less, too.

Times legal counsel Kenneth Richieri gets $1.3 million. Chief financial officer James Follo receives $1.8 million.

Golden is included in “the 1997 Trust,” formed by Arthur Ochs Sulzberger to preserve family ownership, which has 6.4 million shares of Class A Stock. So are relatives James M. Cohen, Gertrude A.L. Golden, Hays N. Golden, Steven B. Green, Carolyn D. Greenspon, Joseph Perpich and Arthur Sulzberger, Jr.

While family members get millions for doing less, all hundreds of Times editors and reporters get are the axe. All the money that’s fit to print for the family, though.

To read the New York Observer article by Ken Kurson, click on http://observer.com/2014/12/new-york-times-insider-multi-million-dollar-shortfall-causing-drastic-cuts/