Remember the outrage earlier this year for some of the bonuses paid out to executives of financial institutions that were TARP recipient? Or how about the press coverage that spurred on populist outrage when it was reported former Merrill Lynch CEO John Thain spent $35,000 on a commode to redecorate his office?
Turns out Thain walked away with a $1.5 million "golden parachute" after he resigned from Merrill, which was acquired by Bank of America (NYSE:BAC). But you would never guess who got a golden parachute that was pretty close to what Thain got. According to an Aug. 14 report on the Chronicle of Philanthropy web site, former National Public Radio chief executive Ken Stern, who was replaced in March 2008, took a $1.3-million buyout, which has gone almost unnoticed.
"Ken Stern, the former National Public Radio chief executive who was replaced in March 2008, earned $1.3-million that year, reports National Public Radio online, citing the nonprofit organization's recently filed annual tax form," the story said. "Mr. Stern was ousted before his four-year contract was up, and he told NPR that when the organization decided to change executives last year, it ‘did so with the knowledge it had the legal obligation to make good immediately on the terms of my contract.'"
NPR, along with the Public Broadcasting Service (PBS), is funded by the Corporation for Public Broadcasting (CPB), a private non-profit corporation created by an act of Congress to promote public broadcasting. According to the Associated Press, some 15 percent of public broadcasting's funding comes from the federal government. The CPB's latest annual budget was $430 million according to PBS chief Paula Kerger.
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Another useless gubment
August 14, 2009 - 18:27 ET by LetFreedomRingAnother useless gubment funded entity.
"Under my plan of a cap and trade system, electricity rates would necessarily skyrocket" Erkle Obama '08
Surprised?
August 14, 2009 - 18:35 ET by expatriotThere are two systems in place, one for them and one for the rest of us. Vote out all incumbents. And let the new ones know who the boss is.
Viva la
August 14, 2009 - 18:36 ET by JebsterViva la Recolucion!!!
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Prepare for the coming revolution
PBS and NPR are Marvelous
August 14, 2009 - 19:48 ET by SterlingThis is the one issue that really offends my sensibilities. NPR and PBS do such a great service to the American public; and all you people can do is knock them at every turn. We have a national institution in these non-profits. Tell me would you be happy to see Sesame Street taken off the air? How about Reading Rainbow? Or the New Yankee Workshop? Oh the humanity, the bias of these programs is so unbearable. I know that when Rick Steves goes to Europe he is obviously promoting a liberal Euro-trash agenda and blaming America for everything.
Grow up, NPR and PBS has great programming; All Things Considered is a fabulous program, as well as the witty Prairie Home Companion. If you do not laugh at Mr. Keller then obviously you lack a sense of humor. Plus it is good clean family broadcasting. In fact, last spring I was one of the people answering the phone raising money for my local PBS; I practice what I preach, do you?
Sterling
August 14, 2009 - 19:50 ET by Free StinkerNPR and PBS do such a great service to the American public
ROFLMAO !
→ Right on Free
August 14, 2009 - 19:51 ET by Cool ArrowI think they blow, too.
LYDSEXICS UNTIE!
We have a national
August 14, 2009 - 21:47 ET by NL207We have a national institution at Ft. Leavenworth, KS and some of the leaders of these other two institutions and quite possibly you also would benefit from attendance there.
Accuracy?
August 14, 2009 - 22:34 ET by mcherrWillikers, batman! While you are answering the phones, you could also look over the program schedule. If you are touting support for A Prairie Home Companion, you might learn the correct spelling of the host's name. Mr Keillor might not be amused.
nice job avoiding the issue
August 14, 2009 - 23:37 ET by candanceWe now have Sterling on record that "fabulous" companies waste tax dollars on million-dollar contracts. Nope, no outrage here. He's glad that a million dollars was seized from him and his family to give to a fatcat executive.
Corporate welfare indeed.
→ PBS
August 14, 2009 - 23:43 ET by Cool ArrowIt would seem fabulous programming would be capable of competing on the open market.
LYDSEXICS UNTIE!
If Sesame Street has
August 15, 2009 - 13:43 ET by BDIf Sesame Street has inherent value than it will certainly be able to fend for itself on the market. After all, my five year old has us watching Nik most of the viewing day.
It used to be said "If Public Broadcasting did not do it, who would?" and the answer turned out to be "Everyone else faster, cheaper, and better." After all, why else is there History Channel, History Channel International, A&E, Military Channel, Discovery, Discovery Science, etc, etc, etc....
Sterling-NPR is
August 16, 2009 - 04:09 ET by RR GOPSterling-NPR is biased.
It's not the programming necessarily, but they are obviously a bunch of Liberals, the same bunch who whines whenever a CEO in purely private ventures get huge compensations...not only biased but hypocritical as well.
One of the 34% who thinks George W. Bush was a great President. One of the 86% who wants to bring back the stock and pillory.
Tell me would you be
August 16, 2009 - 06:18 ET by Jack BauerAre you serious? I mean, please, try using that lump between your damn ears.
I suggest that in the free market, a major NETWORK would pick up Sesame Street in a heartbeat given its success.
For crying out loud.
These trolls, Jack
August 16, 2009 - 06:32 ET by Blonde....just keep on trolling along.
Most of the best stuff on PBS was imported from Britain anyway. Masterpiece Theatre, Brideshead (hee hee, did you see the piece about Evelyn Waugh in the Daily Mail yesterday?), Duchess of Duke Street, Forsythe Saga, Pallisers, etc.
I just finished watching Elizabeth R again, wow, great stuff. I got it for Christmas, and the additions were great, with the exception of the MP Glenda Jackson interview....wow, she hates Maggie with a passion. Alas, not every actor can be a great politician a la Ronald Maximus.
I hope he fails, too.
and if you pledge $1.3 MM within the next 30 minutes...
August 14, 2009 - 21:44 ET by mom_roxWow, think of how many coffee mugs and tote bags the stations could buy with that money.
~~save your tea, dump congress~~
→ Mystery solved
August 14, 2009 - 23:47 ET by Cool ArrowThat's not a golden parachute, it's a golden umbrella.
And that's not rain.
LYDSEXICS UNTIE!