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The vey top management of Tribune will share in approximately $650million of bonuses if the company can pay off the $13billion of debt the company will hold post-transaction
The key player is Chief Executive Charles Prince. Mr. Prince is a a lawyer, and when he was appointed many people thought his background appropriate for dealing with compliance issues that became very important after 9/11/01 and passage of both the Patriot Act and Sarbanes-Oxley.
The pressure became so great Howard was forced to go from public radio (called terrestrial radio now) to pay radio (called satellite radio.)
WalMart’s fired agency, DraftFCB, is going to get the KMart account. This is a sharp move for Kmart.
the company has not Disrupted any of its old Lock-ins. They have not admitted that the Success Formula is outdated, and they have not attacked any of the Lock-ins keeping the company doing what it has always done.
The leadership did everything possible to goose up cash flow at the end of the last year in order to maximize bonuses and attract a buyer for the company.
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