Magazine article Editor & Publisher

Teamsters Continue to Pressure Gannett Board

Magazine article Editor & Publisher

Teamsters Continue to Pressure Gannett Board

Article excerpt

THE TEAMSTERS UNION -- with about 1,000 of its members on strike at Detroit's two dailies -- is continuing to seek the ouster of Gannett Co. executive Frank Vega as the head of the agency that runs Gannett's Detroit News and Knight-Ridder Inc.'s Detroit Free Press.

In an eight-page letter to Gannett chairman, president and chief executive officer John J. Curley, Teamsters general president Ron Carey demanded investigations by the Gannett board and an independent auditor into the chain's reaction to the 1994 announcement that Vega had paid $98,334 to settle Securities and Exchange Commission charges relating to his role in illegal insider stock trading of an upstate New York bank.

Responding to a Gannett attorney's statement that the company's response to Vega's "alleged conduct was swift, decisive and not in the least tolerant," Carey said the fact that Vega "remains trusted with managing one of Gannett's largest investments, the (DNA)" shows that "the sanctions Gannett has imposed fall limply at the base of the alleged monumental conspiracy."

Carey also faulted Gannett for its investigation into the activities of Thomas J. Farrell, the former USA Today vice president and general manager who the SEC charged with masterminding the insider stock trading. …

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