Big Belo Bonuses Big News in Providence

Categories: Media
robertdecherdmug.jpg
Robert Decherd
Don't tell Dallas Morning News bigwigs that the newspaper business is in trouble: The A.H. Belo-owned Providence Journal reports this afternoon that Chairman Robert Decherd, Publisher Jim Moroney, President John McKeon and Chief Financial Officer Alison Engel made out pretty, pretty well during 2010. The paper added up some figures made in a filing with Securities and Exchange Commission today and discovered:
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.
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9 comments
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Sanders Kaufman
Sanders Kaufman

So, instead of increasing the quality of the business, they just pay the employees less.That is soooo Republican.

G_David
G_David

I seem to get free issues of both the regular paper and the one in the yellow sack (al dia) on a sporadic basis, including every Sunday. This, even though nobody in the house reads Spanish language newspapers. I think they should give me a free subscription to the online version, just to pay me back for having to fling the print version into the street a few times a week.

Thelisma Partridge
Thelisma Partridge

My street is littered with al dia papers, some still in their yellow bags, some blowing around the neighborhood.

I have nothing against al dia the paper, but their method of distribution SUCKS. Papers in the bushes, on the roof, in the street, in the bed of my truck... you think these guys were distributing fertilizer, not newspapers.

Dallas Diner
Dallas Diner

Well, they did raise the monthly subsrciption price outright by about $5, and then by another hidden $5 by charging to get the weekly TV listings.

As of April 1st I switched to Wed./Sun. only, and I'm waiting to see how long it takes DMN to recredit my card for the full April subscription price that was charged to it. Any bets as to whether or not I have to call them to get it?

Montemalone
Montemalone

Call?It's the DMN. Send a telegraph.

scottindallas
scottindallas

This story should have included reports of the company's profits over the last couple of years. Referring to the stock price is like reporting on the luster on the company signs. Profits were up 13-15% from 2nd Quarter 2009-2nd Q 2010. That doesn't seem to justify the pay increase. Nor the 12% increase in dividends paid to stockholders in that same term. More current information would be more helpful, and good journalism. I bet your call to Paul Fry, vice president/Investor Relations & Treasury Operations, at 214-977-6835 would be more likely returned than mine, but I'm just a layman.

Oak Cliff Townie
Oak Cliff Townie

Sometimes it good to be at the top .

This is one of them .

They did bring the costs down with those bloodletting layoffs

Gee the money they didn't use for Payroll Must be theirs to split between them selves ?

Or will we see Another circulation style scandal surface except this time it will be ?

Ed D.
Ed D.

Since anybody can get behind the paywall for the low, low price of being a free Briefing subscriber, I wish them luck with trying to make money except from pure suckers.

Montemalone
Montemalone

I guess that new paywall is working like gangbusters. They didn't get my money, though.

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