One of the best jobs in America has to be being one of the top executives at GateHouse Media.
That won't change any time in the near future (unless the company goes bankrupt, of course). At the annual stockholders' meeting Thursday, the executive compensation was overwhelmingly approved, and as the result of another vote, stockholders won't offer any more input on the bigwigs' pay until three years from now.
A total of $1,495,000 in bonuses for GateHouse's top officials, including $800,000 for CEO Michael Reed, was announced in December, at the same time the company's stock was selling for six cents a share on the Pink Sheets.
As of today, the stock is selling for three cents a share and recently it dipped as low as two cents.
GateHouse Media owns the Carthage Press, Neosho Daily News, Pittsburg Morning Sun, and more than 300 newspapers across the United States.
1 comment:
I'm a stockholder and don't recall receiving a proxy statement or even a notice of the annual stockholder meeting. Guess they knew how I'd vote.
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