Bonus check time! (Or, at least, bonus reporting time.) For their good work in 2010, Robert Decherd received a $408,000Â (plus stock awards), publisher Jim Moroney $327,250, president John McKeon $584,960 (his first year on the job), and CFO Alison Engel $150,000.
For all I know, they deserve it. After a near-death experience in the depth of the Great Recession, the company has performed very well, posting EBITDA of $56.5 million in 2010, a 72.5 percent increase over 2009. But employees may not see it that way. Although the company has restored its 401(k) matching, no pay raises are expected for the rank and file. That may rankle. But look at it this way: the alternative might have been no pay at all. After all, you can’t bitch about a company unless you have one.
