Comments on: After Layoffs At McClatchy, A Focus On Pruitt’s Pay; What Are McClatchy’s Digital Goals?

By: Black Balled

Black Balled — Tue, 28 Sep 2010 10:24:23 +0000

McClatchy – Kansas City Star … Can go burn in a fire.
I worked for the company before Knight-Ridder Owned it.
Knight Ridder was 50/50. But McClatchy steals from their
employee’s like theres no tomorrow.

By: Abdominoplastia

Abdominoplastia — Tue, 24 Feb 2009 22:02:44 +0000

They are like leeches draining the life out of their companies. You think some other schlub couldn’t preside over the share-value debacle that is McClatchy News business, even while their journalism is still top-notch, among the very best in the nation? I’d do it, for 1/10th the salary.

By: Inkman

Inkman — Fri, 22 Aug 2008 05:44:41 +0000

wow pruitt is doing pretty good for himself.

heard a new one today. mcclatchy has massive layoffs coming and there is talk of shutting down some papers.

any truth to this?

By: Walter Law

Walter Law — Fri, 15 Aug 2008 04:51:23 +0000

Gary is not the beneficial owner of 13,000,000 shares. He is the trustee and therefore not affected by the loss compared to the actual beneficial owners, the original family members. By voting the Tust, read the 13,000,000 shares, he has been able to secure his place in the company despite performance.

By: tom

tom — Wed, 18 Jun 2008 10:43:18 +0000

These CEOs are sucking their companies dry while contributing no real value. They are like leeches draining the life out of their companies. You think some other schlub couldn't preside over the share-value debacle that is McClatchy News business, even while their journalism is still top-notch, among the very best in the nation? I'd do it, for 1/10th the salary.

By: Joseph Weisenthal

Joseph Weisenthal — Wed, 18 Jun 2008 07:01:24 +0000

Ed,
Your point is accurate. I was focusing on the variable bonus portion, where the company had discretion and an explanation on pay, but there's no doubt that Pruitt is very well compensated despite the company's ongoing descent.

And it's also problematic for shareholders when the CEO is getting enough in other compensation that the bonus is just one moderate slice of their total pay. On the other hand, as I noted, Pruitt has definitely taken his lumps, given his holdings in the company.

By: ed

ed — Wed, 18 Jun 2008 03:33:15 +0000

You should use the $4.65 million total compensation figure, not the $1.1 million base salary figure for Pruitt. Why shouldn't the $1 million in stock gifts, $800,000 in bonus, and $500,000 in pension contribution count when it does for a regular MNI employee?