Big Pay Days at the Times, Big Cuts at Yahoo

cityfile · 04/22/09 11:58AM

• The New York Times Co.'s bank balance is running a bit low, but that hasn't detered the company from handing out lavish pay packages. The company's CEO, Janet Robinson, received a total compensation package valued at $5.58 million in 2008, up from $4.14 million in 2007. [NYP, HP]
• Is Rachel Maddow losing her glow? March was the lowest-rated month so far for Maddow's MSNBC show since its debut last fall. [LAT]
• The Chicago Tribune plans to cut another 20 percent of its newsroom staff as it looks to reduce expenses amid continuing declines in advertising. [CB]
• Yahoo posted a 78 percent decline in quarterly profits and said it would eliminate about 675 more jobs, or 5% of its work force. [WSJ]
• Tonight is Len Berman's last night at WNBC. [NYDN]

Another Big Loss for Harry Macklowe

cityfile · 04/22/09 11:14AM

Harry Macklowe's crumbling real estate empire is getting even smaller. The ex-billionaire purchased the Financial Times building at 1330 Avenue of the Americas in 2006 for $498 million. He's since failed to keep up with his mortgage payments, though, and now it's gone into foreclosure. Unfortunately for Harry and son Billy Macklowe, it's a process they're intimately familiar with: It's the eighth office building in town to slip from their fingers. [Reuters]

Anyone Want to Buy a Painting?

cityfile · 04/22/09 10:55AM

More depressing news from the art world: "In the first quarter of this year, only three pieces of contemporary art sold for over $1 million, a fall of 92 percent from the same period last year." [WB]

Is Web 2.0 Safe in a War Zone?

Owen Thomas · 04/22/09 10:47AM

The gang of webheads sent by the State Department to Iraq is doing what webheads do: blogging, Twittering, and posting photos in real time. This must be giving their government minders fits.

Vikram Pandit Skips the Citi-Funded Cookie Party

cityfile · 04/22/09 10:04AM

Citigroup did its best to insure its annual meeting yesterday—the one at which angry shareholders harangued senior management—reflected a "sober" mindset. No glossy annual reports were handed out, Citi's CEO Vikram Pandit said the company had saved money by skimping on free coffee and doughnuts, and, according to the Times, there weren't any "red-frosted arc cookies in the shape of the corporate logo" either. Now we know why shareholders went without treats!

Workplace Violence Rising, Time to Panic

cityfile · 04/22/09 09:33AM

A gentle word of advice: If you happen to lose your job, whatever you do don't throw a big tantrum, or you might wind up being placed under round-the-clock surveillance to make sure you don't go on a murderous rampage. That's what happened to an employee of one financial services firm who got "upset" when he was fired, even though he presumably didn't have a history of settling scores with a 9-millimeter Glock.