Post Has “Best Possible Situation”?
The Post Company held its annual meeting here yesterday, making little news except this curious nugget:
WaPoCo Chair Don Graham told the shareholders “We feel The Post has got the best possible situation for a large metropolitan newspaper at the start of the 21st century.” Yea, you know, except for those ever falling circulation numbers. Now what Graham meant is that newspaper readership is high in the area, but that doesn’t translate into $$$ as many Post execs must be worrying.
In addition to approving the current board (including Melinda “Wife of Bill” Gates), the shareholders set aside some stock as retention bonuses for staff. Perhaps instead the company should consider handing out retention bonuses of stock to subscribers who re-up.
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Nadine Cheung
Editor, The Job Post
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