Couric Will Recieve Golden Parachute - Who Will Complain?
April 11, 2008 · Written by Steve M · Print This Post
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These days the main stream media and many people are slamming CEOs for “outrageous” salaries and “over-the-top” stock bonus plans. It’s not fair for those executives to be paid “200 times” more than their average employee. Attacks are more noticable when the executive leaves the company with fantastic, contractual, retirement plans.
If executives depart with golden parachutes when the stock price is taking a hit or layoffs are in process, employees - and the media - demand that attorneys general look into criminal charges. So what will happen when Katie Couric departs the anchor position at the CBS Nightly News sometime this year?
The New York Times reports on the current Couric situation:
A wide-ranging discussion in February about Katie Couric’s future as the anchor of the “CBS Evening News” threatened on Thursday to turn her into a virtual lame duck in the job.
The discussion took place in New York on Feb. 28 and involved four people: Ms. Couric; her agent, Alan Berger of the Creative Artists Agency; Sean McManus, the president of CBS News; and Leslie Moonves, the chairman of CBS. The meeting took place in Mr. Moonves’s office.
The conversation included what one participant said was some “idle talk and musings” about the big question hanging over CBS News: should Ms. Couric leave her position as the news anchor after the presidential election, a development that had long been rumored.
In late 2005, CBS offered Couric a $60 million dollar, five year contract to anchor the evening news. She started in September 2006, and not 18 months into her five year deal, meetings are taking place about a graceful departure.
Not only is she the anchor, she’s running the show as the managing editor. By mid-December 2007, after just more than a year, there were big layoffs at CBS News and additional cuts were announced earlier this month.
So, the news operation is in a downward spiral and Couric is in a leadership position. Her contract does not end for another three years. What will she walk away with?
Hot Air posted a piece on Tuesday concerning Couric’s situation.
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