Janet Robinson Gets $24 Million Payout

By Chris O'Shea Comment

Janet Robinson has an amazing life. After Robinson left the The New York Times, it was rumored that her severance package was about $15 million. Not bad! Especially considering the Times continues to lose money. Then that number was rumored to be more like $21 million. Pretty good! But now, according to regulatory filings, we all know the truth: Robinson was paid a whopping $24 million severance package. Amazing! Great job, Times Company board members!

The best part about the payout for Robinson was that she was going to get that huge amount no matter what. Fired, retired, resigned — either way, she was getting paid. Again, amazing.

So how did the Times react to this news? With a cold, fact-laden article:

Janet L. Robinson’s total compensation package when she left The New York Times Company in December was about $24 million, according to the company’s proxy statement filed with the Securities and Exchange Commission on Friday…

On Friday, the Times Company opened at $6.64…

In the full year of 2011, the company reported a net loss of $39.7 million, or 27 cents a share, in contrast to a profit of $107.7 million, or 71 cents a share, in 2010, according to its latest earnings report…

Yeah, sort of like a newspaper tombstone.