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CEO who laid off thousands gets $37 million retirement package
Craig Dubow recently retired as CEO of Gannett Inc., the giant publishing company resigned for Medical reasons -- he apparently has chronic hip and back problems. . To ease his retirement, Dubow will be getting as much as $37.1 million in retirement and health benefits from Gannett. This is a man who laid off 20,000 Gannett employees in his brief tenure, sending many, if not most, of them to an uncertain future with reduced or no health insurance and a perilous retirement.
Executive pay the high cost of market failure
When it comes to executive pay, the market is broken. The game, you might say, is rigged. Chief executives and their assorted lobby groups are fond of saying "That's the market" when it comes to defending the massive salaries. "Look at America," they cry. "You have to pay top dollar to attract the best talent!"