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Downsizing Envy
Black Watch
Employees at Hollinger newspapers get downsized so regularly that you can set your watch by it! And Mr. Black's downsizing so far outstrips the limp attempts of his competition that we call it "Blacksizing."Hollinger has taken its newspaper business and its blacksizing prowess international-- it now has a substantial finger in pies on three continents. To help people around the world keep up with the latest blacksizing trends in different time zones, Blackenvy.com is proud to present the Hollinger Blacksizing Clock. Check back often for the latest bloodletting fun. And remember, the next lucky downsizee could be YOU!
Ever wonder what happens to all the money Hollinger saves by automatically firing a large portion of the workers in any company they take over? We at blackenvy have answers to this greed-testing question. Maybe you thought it was Conrad's 1997 executive compensation from Hollinger of $5.8 million-- a measly 118% increase from 1996 (Reference: CHUM Radio, April 27, 1998).
But that's just chump change compared to the $140 million special dividend Hollinger announced in April 1997-- Conrad's take: $70 million (Reference: The Globe and Mail, April 23, 1997). But he was only just getting rolling, in December 1998 Southam declared a special dividend to shareholders of $530 million-- Conrad's slice: $189 million (Reference: The Globe and Mail, Dec 3, 1998).
There's just no rest for the envy-challenged.
Hollinger Blacksizing Clock
| Chicago (-14%) | Toronto (-31%) | Jerusalem (-53%) | London (-75%) |
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