Lee Enterprises seems to be doing very well:
Newspaper group Lee Enterprises Inc reported a third-quarter loss, hurt by a slow economic recovery in all its markets.
The company, which refinanced its debt in January after filing for bankruptcy in December last year, reported a loss of $1.5 million, or 3 cents per share compared with a loss of $155.5 million, or $3.46 per share, a year earlier.
I take no pleasure in reporting this, because good people will likely lose their jobs as Lee imposes even more cutbacks on its newspapers, but at some point, doesn’t the company’s board have an obligation to identify the failure of leadership at the top?
Don’t worry. Apparently the top two corporate officers at Lee still received their bonuses totaling $750,000.