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It costs a fortune to cut fat. For regular people, it can mean hundreds or even thousands of dollars on gym memberships, special meals and organic restaurants. Yet, this pales in comparison to how much the Boston Globe is spending to lose some dead weight. It could cost the NY Times Co. (NYSE: NYT) property more than $1.2 million to bid adieu to the publisher that almost ran it into the ground.
Steven Ainsley has announced that he's going to retire as publisher of the Globe after having been at the helm for three years. Though quite proud of the two Pulitzer Prizes the paper picked up under Ainsley, the announcement didn't include the fact that he almost caused the newspaper retire before him. As usual, the newspaper is all too eager to talk about its awards, without even acknowledging the fact that it's on the brink of disaster.
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