Disgraced LA Times Parent Co. Exec Benefits from More Bankruptcy Nonsense

According to documents filed yesterday in bankruptcy court, the Tribune Company felt it would face protracted litigation from former VP & CEO Randy Michaels if it chose to contest his wrongful 2010 termination and bonus-due claims. (He was asked to resign last fall after allegations of workplace impropriety.) As a result, the company has decided to cough up $657,000 of the $900,000 he sought, plus $50,000 in legal expenses.

It’s not quite a done dunce-deal, as the bankruptcy court must still approve the settlement agreement. But it is more bad news for the corporate image of the LA Times parent; although layoffs at the paper have continued to occur since Michaels departed in a cloud of controversy, he gets to collect the equivalent of six plus years in star reporter salary.

There are a lot of different ways to spin this. But for FishbowlLA, Michaels’ to-be-approved success connects to GE paying no income tax on $14 billion in profits and O.J. Simpson being declared innocent.

It is arguably all about the level of litigants one can afford.

Previously on FishbowlLA:
Anxiously Waiting for Randy Michaels to Get Fired
More Tribune Insanity: Randy Michaels

[Photo courtesy WBEZ.org]