OLD Media Moves

Washington Post personal finance columnist to take buyout

April 27, 2006

Washington Post personal finance columnist Albert Crenshaw, who writes the Cash Flow column for the paper and is one of the best-known personal finance writers in the country, is expected to take a buy-out offer from the paper and retire later this year.

Albert CrenshawCrenshaw, who is famous for his knowledge of the country’s tax laws and his miserly ways, has apparently been bombarded by others in the newsroom who are eligible for the offer as well, reports Washington City Paper, asking for his advice.

Writer Erik Wemple notes, “Crenshaw’s obsession with maximizing his earnings has fed a quirky learnedness in all aspects of tax law and retirement plans. Learned enough, anyway, that his colleagues have realized there’s a better pipeline to portfolio wisdom than Google. ‘Everyone here relies on Al the way our readers rely on Al, which is to help them intelligently think through the financial choices they have to make in their lives,’ says Steven Pearlstein, yet another Post business columnist.

“These days, many of the folks streaming over to Crenshaw’s desk share a certain demographic profile. Veterans of Post journalism, they have at least 10 years of service under their belts, are at least 53 years old, and have received an early-retirement offer from Post management. About ‘two dozen’ colleagues, says Crenshaw, have come to him for advice on the retirement plan, which is comparable to a similar Post initiative in 2003. ‘Eight to 10’ of those, says the columnist, have requested Crenshaw’s Extended Consultation Plan, which involves a deeper discussion of the offer’s impact on potential retirees.”

Read the rest of the profile of Crenshaw and the buy-outs here.

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