Daily News Eliminates 401(k) Contributions

It was upsetting enough for employees to hear the New York Daily News was ending its 401(k) contributions (memo below). The jokes about bigwigs' extensive stock holdings only made matters worse.

After Daily News CEO Marc Kramer issued the memo below, he made his way to the newsroom, where he reportedly joked with a top editor about how much money the editor had lost on the stock market that day. His laughs, a tipster informs us, left the rest of the staff simmering. (Maybe that was his new way of contributing to reporters' retirements.)

Daily News Eliminates 401(k) Contributions