Noted: The Executive Pay Question

From the Columbia Journalism Review, a comment on executive pay and the startup-funding issues that confront small, nonprofit-news projects (such as my own Newsdesk.org endeavor):

Newsosaur Alan Mutter [noted] that Paul Steiger, the editor in chief of the non-profit news startup Pro Publica, earned a $570,00 salary in 2008. Mutter compared that situation to the Chi-Town Daily News, a startup that folded in September after it failed to raise $300,000 needed to meet its annual budget …

“Adding Steiger, a former managing editor at The Wall Street Journal (where he earned more than twice as much), to Pro Publica’s masthead surely provided the start-up some much-needed star power. On the other hand, half his salary would still leave him well off by industry standards, and free up enough money to hire half a dozen reporters. So this raises the question: Can very large news salaries be justified in the current business climate? And does it make a difference whether the outlet is a non-profit startup, a for-profit newspaper, or a television news network?”

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