Today's Top Stories

Measuring executive pay — and responsibility

When Nintendo slashed the price of its 6-month-old 3-D game device by nearly a third a few weeks ago, company President Satoru Iwata voluntarily took a 50% pay cut. That was in stark contrast to the position taken by Rupert Murdoch who, when asked whether he should accept responsibility for the legal and public relations disaster facing his company by resigning, replied: "Nope. People I trusted have let me down. It's for them to pay."

In New York, scourge of outsourcing continues

The New York Guild was informed by New York Times management on Friday afternoon that the company will eliminate all 11 positions in the Customer Order Fulfillment Department through subcontracting. The Times said the work would be taken over by the Shared Services Center in Virginia, with the job losses to begin on Jan. 1, 2012. Five managers in the department also will be affected.

American Printer Magazine Folds After 128 Years; American Press Closes Shop

Penton Media's American Printer magazine will be stopping production after 128 years. The August 2011 edition has been the last title published. The trade publication was designed for an audience of commercial printers and had a focus on printing management, press technologies and "prepress, press and postpress issues," according to its website.

ASNE eliminates four full-time positions, considers partnering with j-school for office space

The American Society of News Editors confirms it is eliminating four full-time positions and will instead contract for financial, technical and administrative support. It also is "seeking collaborations and partnerships with other organizations, including possibly partnering with a journalism school for office space and operational synergies."

Koch Responds To Buffett: ‘My Business And Non-Profit Investments Are Much More Beneficial To Society’

Warren Buffett penned an op-ed last week declaring that America’s super-rich have been “coddled long enough by a billionaire-friendly Congress.” Not so, responded Charles Koch, head of the massive petrochemical, manufacturing, and commodity speculating Koch Industries corporation. Low tax rates for billionaires are warranted because "my business and non-profit investments are much more beneficial to societal well-being than sending more money to Washington."

Warren Buffett’s Call: A Tax Policy for the Common Good

Warren Buffett is calling. We need more wealthy folks to speak up for the common good -- and, in fact, there are now thousands of business leaders and wealthy investors calling on Congress to stop aggressive tax corporate dodging. They point out that it is bad for business when companies like General Electric and Verizon pay no taxes -- and force patriotic domestic companies to compete on an unlevel playing field.

Billionaire Slim Boost Stakes in Saks, NYT

Billionaire Carlos Slim spent $8.8 million to boost his stakes in Saks Inc. and New York Times Co., adding to his biggest U.S. holdings as the stock market slumped last week. Slim’s Inmobiliaria Carso SA investment fund paid $6.83 to $7.09 for 553,000 Times Co. shares Aug. 18, boosting his stake in the New York company’s Class A shares to 7.2% from 6.9%.

Returning to the scene of the class war

Aggravated by a New York Times story in which striking Verizon workers were forced to argue that their wages weren’t, in fact, “too high” -- seeing them make the very valid point that living in the New York area and raising a family on $40,000-$70,000 a year doesn’t actually make them rich -- I tweeted angrily: "How the hell did we get into a world where workers making $60,000 are overpaid but CEOs making millions are overtaxed?” The reaction was amazing.

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