New story from The Australian published by Mortimer Goth October 30, 2009

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FAIRFAX Media is facing a protest vote over a $4.1 million golden parachute paid to former boss David Kirk last December, which preceded the company's $380m loss.

Two leading proxy advisory groups, CGI Glass Lewis and the Australian Council of Super Investors, have objected to the lack of disclosure surrounding the termination payment made to Mr Kirk and are recommending investors vote against Fairfax's remuneration report at its annual meeting on November 10. CGI director Sandy Easterbrook said the remuneration report provided no explanation for the "substantial one-off payment" to Mr Kirk, especially given the company's declining profit. More: http://tinyurl.com/compensation174