Wednesday, April 1, 2009

Inept directors on McClatchy's board running for re-election

I don't get this -- looks most of McClatchy's board of directors -- you know, the geniuses who have presided over McClatchy's collapse -- are running for re-election to the company's board.

For details on who is running for re-election to the board, click here. (The board has been reduced from 14 to 13 directors, and director William Koblentz is not running for reelection.)

These are the Smart People who gave Gary Pruitt the green light to proceed with the 2006 Knight Ridder debacle, then, approved paying Pruitt millions in compensation each year -- $2.7 million in 2008 -- even as MNI has become a penny stock and the company flirts with bankruptcy.

Hat tip: comments
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15 comments:

Anonymous said...

Check out the ages on those people. 80, 75, 65....no wonder they did not grasp the significance of the internets.

You should see it when they come to the sacbee bldg. for the day.

McClatchy Watch said...

10:34 -- wheelchairs and walkers, I bet.

Anonymous said...

Yep.

Anonymous said...

A pack of old, senile fools who are afraid of change. They're the crew on Cap'n Gary's Ship of Fools.

Anonymous said...

Do any of these fossils even own a computer? They probably still listen to the Lone Ranger on radio each night.

Anonymous said...

“Cap'n Gary's Ship of Fools.”
Word to the wise, starting nautical talk on this site can set off a spate of ‘Pru at the helm’ jokes.

McClatchy Watch said...

Just for the record, Howard Weaver started the Gary Pruitt nautical talk months ago with this classic: "We are in rough seas, but the boat and its captain are secure."

Anonymous said...

Sure, the boat and the captain are secure. It's the people in steerage going overboard.

Anonymous said...

Look at all the connections to the Fresno Bee. A golden-monopoly paper that was a cash cow until they recently butchered it to save the 'ship'. That's the farm for these big city thinkers? Carrot crunchers at the helm. And head tool, sorry, fool, Pruitt a worzel the whole way. I guarantee that guy is planning his escape.

Anonymous said...

First let me admit, I have never bought a stock. The shareholders elect the BOD, do they not? There must be some razzle-dazzle going on?

Anonymous said...

When Howard Weaver wrote, "We are in rough seas, but the boat and its captain are secure," little did the idiot know he'd be the one forced to walk tha plank.

Anonymous said...

“…little did the idiot [Weaver] know he'd be the one forced to walk the plank”

Hell, yes, and the poor fool just survived walking over a burning bridge. $hit happens Howard, $hit happens.

Anonymous said...

The MNI BOD might have already jumped ship by selling off their MIN stock. Spending other people’s money is of little concern to them now.

If the ship goes down, they will be aboard, singing and dancing.
Gurgle, gurgle, let’s go up to the top deck, and continue dancing.

Gurgle, gurgle, Pru deary, bring on the lifeboats, mine has oxygen onboard. Viagra, Pru don’t forget the go pill. I see a 75 year old hottie.

Anonymous said...

First let me admit, I have never bought a stock. The shareholders elect the BOD, do they not? There must be some razzle-dazzle going on?

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No, the shareholders do not elect the board of directors and the board of directors have no control over the company what so ever. MNI's voting is a scam as shareholder votes are over ridden by the families special class shares.

Anonymous said...

Thats not a scam, Thats brilliant Business. The family was really sharpt to set it up that way.