Big Belo Bonuses Big News in Providence
A.H. Belo CEO Robert Decherd's total compensation more than tripled to $1.87 million in 2010, up from $499,180 in 2009 [while] Dallas Morning News Publisher James Moroney earned $1.3 million in 2010, up from $478,090 in 2009; Morning News President and General Manager John McKeon earned $1.3 million in his first year on the job; Chief Financial Officer Alison Engel earned $800,001, up from $276,765; and Senior Vice President Daniel Blizzard earned $575,000, up from $211,228.The bonuses coincide with A.H. Belo's stock price jump during '10; it closed today at $8.25, not quite where it was at year's end but better than the good ol' days of $1.92. But as the ProJo notes, it's been three years since the higher-ups gave merit raises to those down below:
In a letter to employees last month, Decherd said A.H. Belo was reinstating the company's 401(k) match of 1.5% for the first half of this year. But he warned that it may be a long time before the company can hand out performance-based raises to rank-and-file workers.