Word: ferger
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...paper's expense-and promptly lost their jobs (TIME, Dec. 5 et seq.). But last week stockholders overwhelmingly re-elected Reporter Ratliff to the Enquirer's board of directors. Assistant Publisher Eugene Duffield-one of the employees' main targets-announced his resignation, and Publisher Roger Ferger, whose annual earnings of as much as $104,700 had come under fire, admitted that he might well take less for his services. The board told Ferger to "adjudicate" the question of Ratliff's and Cronin's discharge, and he assured everyone that his first task would...
Thus, Publisher Ferger hoped to quell the uproar over Enquirer management (TIME, Dec. 5) in which Ratliff had already been dumped as vice president and secretary of the company. But the firings,, only intensified the bitterness. At a meeting later in Cincinnati's Cox Theater, staffers sat in grim silence for 90 minutes while Ferger, 61, denied charges by Ratliff and Cronin that his own salary and bonus (1955 total: $104,699) and those of Assistant Publisher Eugene Duffield ($62,319) were excessive. Moreover, said Ferger, financial backers had urged him to insist on a ten-year contract; while...
This was rebutted at a later meeting of outside stockholders representing shares worth $250,000. Ratliff produced a letter from Halsey, Stuart's President H. L. Stuart saying that 1) "the original request for a voting trust came from Mr. Ferger as a condition of him continuing as publisher," and 2) the stock-option deal was put through "without our knowledge . . . I certainly do question the moral action in devaluing the options which we had through our debentures...
...week's end, a pro-Ferger United Employees' Committee for 'Continued Success & Employee Control, led by Circulation Boss Lawrence Nash, suggested a review of top-management salaries and closer consultation between executives and staffers. Snapped Jim Ratliff: "Their platform is the one I gave my scalp...
...editorial staffers, embittered by Ferger's firings, insisted that management's willingness to review the original charges was too little, too late. They wanted Cronin and Ratliff put back to work. "Firings may bring peace to your family," Sunday Feature Editor Charles Warnick wrote Ferger, "but not the firing of these two men. To settle the issue by force you are going to ... fire dozens of us ... until you have wiped out all semblance of loyalty to these men [who] will willingly undertake any sacrifice for the betterment of the Enquirer, an institution they believe bears a close...