It happened a century ago, writes the Boston Globe’s Michael Paulson.
Coincidentally, recent negotiations between the Boston Newspaper Guild and the New York Times Co. took place at the Sacred Heart Labor Guild in Weymouth. For what it’s worth.
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NewsHound
I'd be willing to bet the Guild would welcome a Bishop Lawrence. The New York Times Co. would have no part of it. For the Times it is not a case of fairness.Most certainly there are members of the Guild who may be frightened of how they will make ends meet with a pay cut or loss of a job. That is not to say members perhaps have not been well paid, and maybe even over paid in the past. But, the New York Times Company is exploiting this as a means to save the Company and save their own executive outrageous and unearned multi-million dollar compensation plans.I think the Guild should offer the $10 million cut in exchange for $10 million in New York Times stock to be distributed dollar for dollar in comparison to each employee's pay cut.With such a plan, employees are sincerely cooperating to help save the Boston Globe and if successful will share in the reward.No doubt, Gatehouse employees should do the same. At 25 cents a share some employees could really load up. The chance of this stock reaching an intrinsic value as much as 25 cents is darn poor but at least employees would be compensated fairly for their sacrifice and cooperation. And who knows, maybe some fool will pay a $1 a share later on.