Chicago Tribune
Tribune Co. is proposing to pay severances to its top 43 executives if they're asked by a new board to leave when the company emerges from bankruptcy. The package amounts to 2.5 times salary and bonus for CEO Randy Michaels; 2.25 times salary and bonus for COO Gerry Spector; and 1.75 times salary and bonus for Chicago Tribune publisher Tony Hunter and Los Angeles Times publisher Eddy Hartenstein. Thirty-two others would get 1.5 times salary and 18 months of benefits.