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Buyout

ENTERTAINMENT
July 24, 2012 | By Peter Dobrin, INQUIRER CULTURE WRITER
Peter Nero has prevailed. His lawyers successfully beat back a move to oust the Grammy Award-winning pianist and conductor as head of the Philly Pops. Nero, 78, who had two years to go on his current contract, will stay on the podium through the end of the 2012-13 season. After that, presenter Encore Series Inc., which sought to reject his contract, will buy out his last season, 2013-14, as it tries to shift to new leadership after what will be Nero's 3½-decade reign. The new contract between the conductor and ESI was reached in negotiations as the case was headed to a hearing in U.S. Bankruptcy Court last week.
SPORTS
July 18, 2012 | Associated Press
SYRACUSE, N.Y. - The Big East has reached an agreement with Syracuse University, allowing the Orange to leave the league a year early for the Atlantic Coast Conference. Syracuse announced last fall its intention to join the ACC, but under Big East bylaws the school had to serve a 27-month exit period. Instead, the Orange will now be allowed to leave on July 1, 2013, and will have to pay a fee of $7.5 million to depart. That's $2.5 million more than specified in the conference bylaws.
NEWS
May 16, 2012 | By Claudia Vargas, INQUIRER STAFF WRITER
The Camden City school board signed off Tuesday night on a $62,000 buyout agreement for Superintendent Bessie LeFra Young, hours before a new school board is put in place and commences the search for a new leader. Young, a former top administrator in the Philadelphia School District who has a year left in her contract, will step down June 30 from her $244,083 job. She is receiving three months' pay and is requesting an undisclosed amount of expense reimbursements for her nearly five years on the job. The reimbursements are not part of the separation agreement and will be negotiated separately, said the district's labor attorney, Lou Lessig.
NEWS
May 14, 2012 | By Claudia Vargas, Inquirer Staff Writer
The Camden City Board of Education is set to vote Tuesday on a buyout package for Superintendent Bessie LaFra Young, who has drawn sharp criticism for having called out sick for the equivalent of more than a school year of time since being hired five years ago. Young, a former top administrator in the Philadelphia School District who has a year left in her contract, will be stepping down June 30 from her $244,083 job at the helm of the long-struggling...
NEWS
March 16, 2012 | BY DAVID GAMBACORTA, Daily News Staff Writer
THE NEWSPAPER GUILD says it will fight job cuts announced yesterday inside the ivory tower that houses the Daily News , the Inquirer , philly.com and SportsWeek . Recently proposed cuts to the editorial staffs of the papers and the website became official when 19 employees learned that they will be laid off at the end of the month and 21 other staffers accepted a buyout offer. Three managers at the Inquirer also were laid off. At the Daily News , the job cuts included a photographer, a news reporter, a sportswriter, a desk assistant, three part-time copy editors and a part-time editorial assistant.
NEWS
March 15, 2012 | By Mike Armstrong, INQUIRER STAFF WRITER
Philadelphia Media Network Inc. will lay off 19 unionized workers in its three newsrooms - four full-timers and 15 part-timers - and 21 additional newsroom employees have been approved for voluntary buyouts. The layoffs of reporters, copy editors, multimedia content producers, and others at The Inquirer, Philadelphia Daily News, and Philly.com would occur March 31. Five nonunion employees from the three newsrooms, including three from The Inquirer, also were laid off, bringing the total number of jobs being lost to 45. In a statement, PMN said the layoffs and buyouts were a response to "the unfortunate economic conditions that continue to impact" the newspaper industry.
NEWS
March 7, 2012 | ASSOCIATED PRESS
HARRISBURG - A bill designed to limit the taxpayer cost of buyouts for public-school superintendents and to expose the terms to greater public view took a first step in the Pennsylvania Senate yesterday in the wake of a couple of heavily criticized payouts. The bill, approved unanimously by the Senate Education Committee, would require severance packages to be detailed upfront in contracts that are public records. It also would impose caps on the value of buyouts that are negotiated later by school boards and superintendents who agree not to follow the contract.
NEWS
March 7, 2012 | By Marc Levy, Associated Press
HARRISBURG - A bill designed to limit the taxpayer cost of buyouts for public school superintendents and expose their terms to greater public view took a first step in the Pennsylvania Senate on Tuesday in the wake of a couple of heavily criticized payouts. The bill, approved unanimously by the Education Committee, would require severance packages to be detailed in contracts that are public records. It also would impose caps on the value of buyouts negotiated later by school boards and superintendents who agree not to follow the contract.
NEWS
February 24, 2012 | BY DAVID GAMBACORTA, gambacd@phillynews.com 215-854-5994
BUDGET woes have spurred the Philadelphia Housing Authority into offering buyouts to all of its employees. PHA spokeswoman Nichole Tillman said yesterday that it's unclear how many people will apply for the buyout, which is on the table until the end of March. Employees will be offered a lump-sum payment based on the number of years they've worked for the agency. Tillman said that PHA opted to offer the buyouts because of federal funding cuts that left it with a $10.2 million shortfall in its fiscal-year 2013 budget.
NEWS
December 7, 2011 | By Buzz Bissinger, For the Daily News
THE DOCUMENT arrived at my doorstep over the weekend in a plain white envelope. This was going to be big. It was: Former school superintendent Arlene Ackerman's Christmas list. I knew it was going to be a good Xmas for former Queen Arlene. A very good one. First she engineered a $905,000 buyout from her job, which has to make one wonder why the Occupy Philadelphians, instead of camping out outside City Hall to party hearty, did not occupy her house. Then last week she applied to for unemployment benefits of $573 a week.
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