Friday, February 8, 2008

Sam Zell Is Excited About His New Blog!

Sam's new blog is nice, but it is a one way only monologue. I will post his missives here so you can comment. For instance, while it is a nice gesture on Sam's part to only take a token salary (see his post below), he'd be better served and create more good will if he included all his Tribune employees in the new ESOP, rather than just the non-union staff.


From The Gawker -

Tribune boss Sam Zell sent around an email today to his "partners," alerting them to "some disturbing language" and some "complaints about his 50 cent a year salary gesture" he's heard around the office, but far more importantly? To his brand-new blog!

"Fellow Employees,

You may have heard me say that I will be taking an annual salary of 50 cents. Apparently, that figure was disturbing to some people. Someone on my team recently received an e-mail from an employee who was concerned that 50 cents does not divide evenly into 26 paychecks.

So, I’ve decided we should form a committee, hold a meeting, and then hire a compensation consultant to decide if my salary should be increased to 52 cents a year.

While I’m sure that falls under the cap for raises, it may be against some old policy restricting salary increases for employees with less than 12 months of tenure.

Do I need a committee, meeting and another consultant to change that policy?

Oh, that’s right, I’m in charge now. What policy?

More to come…



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