CEO of Philly Papers Given Spent $1,500/Week for on Transportation

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By Noah Davis Comment

philly04.24.09.jpgBrian Tierney, the chief executive officer of Philadelphia Newspapers, received $81,000 in 2008 for transportation expenses from the company that filed for bankruptcy in February 2009.

Tierney, who along with other investors purchased the publisher of the Philadelphia Inquirer and the Philadelphia Daily News in 2006 for more than $500 million, also received $650,000 in salary, a $350,000 bonus for 2008, and a $175,000 bonus for 2007. In total, his compensation came to $1.175 million, a number he called “very low.”

In late 2008, Philadelphia Newspapers union members agreed to give up their raises in an attempt to keep the company from bankruptcy.

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