The NewsBusters web site has a posting today criticizing the management of the New York Times Co. for ignoring its voluminous recent coverage about the problems related to executive compensation. If you haven’t been following what’s going on, Morgan Stanley, a shareholder of the Times, recently levied some criticism at the company for its large increases in executive compensation during a time of upheaval for the newspaper industry.
NewsBusters pointed out that the Times ran an editorial on April 13 criticizing large executive compensation plans, shortly after a front-page article on April 10 that was nearly 4,000 words long and discussed the same issue.
Want more? On April 9, the Times had six stories about executive compensation in the paper.
NewsBusters writes, “Yep. Six articles about executive pay on one day, nine in the previous eight. Given the revelations from this recent shareholder revolt, there appears to be only one thing to say to the Times board: Physician, Heal Thyself!”
Doesn’t anybody at the Times read the company’s flagship paper’s business coverage?