This past spring, Michael Ferro resigned as chairman of publicly traded media-looting hell-company Tronc, Inc., just ahead of the publication of sexual harassment allegations against him. As a parting gift, Tronc paid him $15 million, voluntarily bundling up the total value of a three-year consulting contract into one lump payment expensed against the company’s earnings and putting itself $14.8 million in the red for the first quarter. Today, Tronc gutted the New York Daily News, laying off at least half of its editorial staff to cut costs. In a society not crippled and driven completely insane by capitalism, motherfuckers would go to prison for this.
I don’t read The Concourse often, but this seems awfully ranty for something that I suspect is otherwise meant to be more tame journalism. Perhaps I missed the “opinion” tag? But, then again, it’s part of the Gawker family…Syndicated copies to: