Thursday, 14 December, 2017

After firing Matt Lauer, NBC execs attempt to management the harm

Matt Lauer's sex den demolished: NBC is knocking down disgraced anchor's office - including desk button which After firing Matt Lauer, NBC execs attempt to management the harm
Faye Gross | 04 December, 2017, 01:13

Some NBC News employees who raised the question of Lauer's compensation at a staff meeting were told that he was sacked "for cause" and wouldn't be paid beyond his last day worked, according to a Variety report Friday.

In the light of some horrifying allegations of sexual assault and harassment, Matt Lauer was removed from his position at NBC and fired from Today.

An NBC News source said Friday that Lauer will not be paid past his last day of work, effectively Tuesday, when Lack informed him he was sacked.

The expected monetary compensation was based on the fact that Lauer was paid around $20 million a year to cohost the Today show.

Matt Lauer's sex den demolished: NBC is knocking down disgraced anchor's office - including desk button which
After firing Matt Lauer, NBC execs attempt to management the harm

Television news contracts typically include a morals clause, giving a network some flexibility to fire a high-priced anchor for cause.

If the timeline is credible, it means that NBC News chairman Andy Lack and president Noah Oppenheim were unaware of Lauer's alleged misconduct until very recently. Lauer did not try to fight the firing but his legal team is planning to seek the money he would lose by NBC not paying out the contract. Given reports about his yearly salary over the past decade, he has likely already been paid well in excess of $100 million during his time at NBC. It read: "Many of you have asked what we are doing to learn as much as we can about the circumstances around Matt Lauer's appalling behavior, why this was able to happen, and why it wasn't reported sooner".

In a memo on Friday, Lack said NBCUniversal would conduct a review of what happened and would strengthen its internal processes so that staffers feel safe coming forward with allegations of misconduct. He also directed employees to take any complaints to their managers, newsroom leaders, human resources officers or two available hotlines, the NBCUniversal Integrity Helpline and the Comcast Listens Helpline. A Variety magazine investigation outlined a pattern of alleged salacious behavior, including three women who said Lauer harassed them. But workers must be empowered to "take the crucial first step of reporting bad behavior". Since then other stories with similar details have come in.

Stelac Advisory Services LLC Grows Position in Ford Motor Company (F)
The institutional investor acquired 109,230 shares of the auto manufacturer's stock, valued at approximately $1,307,000. The stock has a market capitalization of $61,205.38, a P/E ratio of 6.96, a PEG ratio of 0.75 and a beta of 1.55.


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