Thursday, April 12, 2012

P-D Employees Protest CEO's Half-Million Dollar Bonus

Posted By on Thu, Apr 12, 2012 at 7:46 AM

Marie Antoinette Junck
  • Marie Antoinette Junck

Many of you shared our outrage a few weeks ago when we reported that Lee Enterprises, parent company of the Post-Dispatch, gave its CEO Mary Junck a $500,000 bonus for successfully guiding the corporation out of bankruptcy. CFO Carl Schmidt made out pretty well, too: He got $250,000.

The P-D employees are pretty pissed off, too -- and not just the ones who got laid off the same day Junck and Schmidt got a little something extra in their pay envelopes.

And so today at noon Post-Dispatch employees will gather outside the paper's offices at 900 North Tucker in protest. All attendees will receive a cupcake in honor of the Marie Antoinette-ish-ness of it all.

As Shannon Duffy, business representative of the United Media Guild, the largest union at the P-D, put it in a press release:

Since when does tanking a company rate a bonus? For a corporation that saw its stock plummet from $40 per share when it purchased the Pulitzer chain in 2005 to just over a buck-a-share today, it's unbelievable that Lee's board of directors would reward that kind of performance.

Indeed.

The cupcakes, by the way, will be baked by a union baker. Solidarity forever.

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