Wednesday, November 22, 2017

"Private jets and golden parachutes: The L.A. Times Guild asks, 'Where is the money?'"

LATG:

THE PRIVATE JET

Michael Ferro’s private jet alone costs the company millions. From February 2016 through September of this year, Tronc spent $4.6 million to sublease and operate the sleek Bombardier aircraft, which costs $8,500 an hour to fly. The kicker? Tronc subleases the jet from Merrick Ventures, one of Ferro’s companies.

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SPORTING EVENTS & GOLDEN PARACHUTES

Tronc spent nearly $250,000 to buy sports tickets from Ferro's company.