At least Lou Carlozo can't say he was unprepared. As the Chicago Tribune's assistant feature editor and writer of the popular "Recession Diaries" blog, he knew better than most what the suddenly cash-strapped have to look forward to.

Still, it didn't make it any easier when on Wednesday he got his pink slip along with 52 other newsroom workers, many of them veteran newsmen like himself. And perhaps because the Universe loves irony, that same day the Trib's parent company OK'd $13 million in bonuses for its executives.

Fortunately, Carlozo has found another outlet for his skills, posting news of his layoff on the True/Slant blog. He also mused about how a mere 10% cut in the Tribune Corp. bonus pool, $1.3 million, could have kept him and 20 other rank and file workers employed for another year. Can't imagine the fat cats currently winding down the late, great Chicago Tribune would have allowed that to be printed. It's a brave new world for the old world media out there. Good thing reporters can roll with the story.

Increase your money and finance knowledge from home

What is Inflation?

Why do prices go up?

View Course »

Intro to Retirement

Get started early planning for your long term future.

View Course »

Add a Comment

*0 / 3000 Character Maximum