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Mary Junck, CEO of Lee Enterprises, Gets a $500k Bonus

Categories: Bidness
mary junck.jpg
Mary Junck, 500 grand richer after taking Lee Enterprises into bankruptcy.
Lee Enterprises, parent company of the Post-Dispatch, gifted $500,000 to its CEO Mary for refinancing almost a billion dollars of the company's debt and successfully guiding the company into and out of bankruptcy court. Meanwhile, down in the trenches of the newspaper business, the P-D's total staff has been slashed almost in half through buy-outs, layoffs and attrition during Lee's ownership. 

Only in the business world that you can "earn" a half-million dollar bonus for going broke.

Carl Schmidt, Lee's vice president, treasurer and CFO, was granted a $250,000 bonus for his work during that same period. I can't imagine any private citizen making his or her way out of bankruptcy and having someone give 'em a cash bonus for pulling it off -- if that's happened to any of you, please correct me in the comments -- but then I'm carrying two dollars and change today, so the practices of corporate high-finance elude me.

Of course, if I spend that cash today I'll be broke until payday, but perhaps a kindly CEO will give me a couple bucks to tide me over.

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Mkelly
Mkelly

No raises in 5 YEARS for us employees, bonuses taken away and cut, cut, cut spending and sell, sell, sell, sell!That is what we have been drilled with as employees of Lee Ent.I personally am holding down 3 jobs to make ends meet and see no end in site for retirement.  How in God's name can these people sleep at night? 

MEGABREU
MEGABREU

The really sad part is there are employees of Lee Enterprises that have gone without raises for years... up to 4 in some cases... and she couldn't have done what she did with out the lowly employees working hard!! How does she thank them? With a big fat NOTHING... Sad but true!!

Edgolterman
Edgolterman

No problem had she 'abandoned' the Post's attachment-at-the hip to Civic Progress & Grand Center-their shilling everything they wanted, and covering up  frauds and failures. Lee had a chance to change the paradigm in St. Louis, end the control that suffocated this city-its business, its music, arts & culture. Too late now. The last door to recovery opened in 1998, stayed open until about 2003, then  closed, and is nailed shut. The media is reduced to printing and talking about the latest surveys placing St. Louis last. And, sports.

some jerk
some jerk

So is Mary like Madonna or Cher or Prince? She only gets the one name?

icheatonmywife
icheatonmywife

Her name's Junck which is what she has turned Lee's stock into.

some jerk
some jerk

Not in the actual story. There, it's just Mary.

>>Lee Enterprises, parent company of the Post-Dispatch, gifted $500,000 to its CEO Mary

KITTY
KITTY

Only in America. The bitch bankrupts the corporation and then loots the treasuary for 500 g's.

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