Tribune Co. aims to fill wallets of execs who might be fired by new board

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.

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