“It’s a familiar story these days: Top executives reaping disproportionately large salaries and mind-boggling bonuses while executing poor business strategies and laying off hordes of employees,” as AZ Capitol Times reports.
“It’s happened in the finance industry, construction, automobile manufacturing, computer software and beyond. But now, we can count the newspaper industry among them.”
Yes, it also applies to small-town newspaper publishers:
“Julie Moreno, who became the publisher of the East Valley Tribune in 2008, was paid more than $334,000 in salary, benefits, bonuses and expense reimbursements during the past year, according to Freedom Communications Inc. bankruptcy documents filed Oct. 31,” as the “watchdog” publication reports.
“As part of that package, Moreno was paid a lump sum of $57,949 to relocate to the Valley from Yuma, where she was publisher of Freedom Communications’ second-largest Arizona paper, the Yuma Sun. Yuma, by the way, is 203 miles from Mesa.”
Earlier this month the 118-year-old East Valley Tribune newspaper said it would close at year-end.
Do these kind of big six-figure salaries exist in other small-town newspaper markets throughout the county? You bet.