Dubow could collect $37 million
The board said Dubow, 56, had resigned "due to disability," a circumstance that paves the way for him to collect as much as $37.1 million in retirement and disability benefits, company documents show. The benefits are worth considerably more than what he would get, $22.5 million, if he left in a traditional retirement.
[snip]
The company's stock was worth $72 a share when Dubow became CEO. But it plunged alongside other newspaper stocks, trading as low as $1.85 in March 2009 amid fears the company was headed for bankruptcy. It closed today at $10.45, down a penny.
Well, we should definitely reward his sterling leadership.
Also, I would totally accept a "traditional retirement" of $22 million. Just throwing that out there.
A.
One of the first blog-based books, the anthology Special Plans examines Feith's role in misleading America into war. Buy from 
THIS is a prime example of what is wrong with American plutocracy. Big rewards for layoffs, big rewards for outsourcing, and big rewards for the barons of even failing industries ... while the common albeit loyal company person (or trade union member or college student, etc.) gets the shaft.
Enjoy the retirement, Dubow.
Posted by: MediaSiege | October 10, 2011 at 17:13
Mother. Fucking. Job. Creator. Him.
Posted by: Mass | October 10, 2011 at 19:29
Hmm. Interesting concept, ethical turpitude and incompetence as disabilities worthy of compensation.
If he never works again, it might be worth the money keeping him out of other executive suites... maybe this will catch on.
Posted by: montag | October 11, 2011 at 03:18
I guess it would be wrong for a shareholder to set a private detective on him to determine what activities he's capable of doing and whether his disability claim constitutes a fraud against the company (either with or without the collusion of the directors).
No, we should take his word for it, the same way that companies take the word of any worker who claims to be disabled on the job.
Posted by: paul | October 11, 2011 at 08:16
This is not to defend a retirement sum that is indefensible, but a retirement package for, say, a teacher, might easily be worth 1 million. Assume 2/3 salary on $50,000. That's $750K right there. Health insurance adds significantly to the cost. End of life care can easily burn $250K per person.
The real crime is how much the guy got paid considering that he destroyed the newspaper.
Posted by: Charles | October 11, 2011 at 10:06
WE NEED A MAXIMUM WAGE LAW GODDAMMIT!
this golden parachute BULLSHIT is EVIL!!!!! EVIL i say.
HOW DARE THEY!
Posted by: pansypoo | October 11, 2011 at 13:35
All this means is that America really is a great country (well, for some people). Where else can you fuck up big time and still come out way ahead?
Posted by: PWL | October 12, 2011 at 15:49