Sam Zell owns the company, so he can’t be fired, but CEO Randy Michaels no longer has the confidence of the board, according to the Times. Was it the sexual harassment, the collapse of employee morale, the total desecration of a journalistic brand, the hundreds of millions of dollars in losses? Or was it just the bad press, which culminated in a blockbuster Times article on the rotting company? Michaels’s potential resignation follows that of Lee Abrams, the chief innovation officer who left last week after he mass e-mailed a video of a naked woman pouring liquor down her breasts. [NYT] Updated: As of this afternoon, Michaels was still at work.
