Tuesday, June 30


Out of the business, yet I still subscribe to NewsBlues, the daily blog about TV and broadcast news. Don't know how he does it, but its self-proclaimed "Surly Editor" Mike James is plugged into everything about the biz.

One item caught my attention this morning. It seems that after 28 years at WDAF-TV in Kansas City, sports anchor Frank Boal is calling it quits: tonight's his last night. He's taking an early retirement package at the age of 62. James links to an article quoting Boal about his decision and his departure:
"It was just one of those things where, being 62 and at the very end of my contract, and with the uncertainty of the future, that had a lot to do with taking the buyout."

Interesting ... and all too common, I'm afraid. But the last line of the NewsBlues story really caught my attention.

"Local TV LLC offered a lucrative buyout to all of its employees age 55 or older with at least 15 years of service. The deadline for taking the offer is this week."

Wait a minute: Local TV LLC, the outfit that bought WNEP in this market not too long ago? A buyout deadline coming up this week for all its stations? Big-bucks buyouts for anyone 55+ with 15+ years of service?

I've been racking my brain. There are still some old-timers--several of them--who've been at WNEP for 25+ years. I hired some of them. But they were all in their 20s when they started out. I'm not sure who's over 55 and eligible for this "lucrative buyout."

Anyone know who's eligible? Anyone know who's taking a hike?


Anonymous said...

It was 15 years of service and 50+ years of age and not that lucrative...

1½ times the employee’s weekly base salary times the number of years of service that the employee has, not to exceed 50 weeks pay or $150,000, whichever is less. For example, if you earn $1,000 per week and have 20 years of service, your severance benefit would be $30,000. That would be paid to you in a lump sum, less legally required withholding...

Anonymous said...

Paul: From a friend @ 16. To answer your question. Only ONE person took it. A secretary @ the front desk. She would be eligible for Social Security next year.
Everyone now wonders when will the involuntary buyouts take place?