Tags: jay | carney | time | magazine

Carney Received $270K From Time After Leaving

Tuesday, 15 Feb 2011 01:30 PM

By Dan Weil

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President Barack Obama’s new press secretary Jay Carney did pretty well working as Washington bureau chief at Time magazine. And that was after he left the company, Politico reports.

Carney quit Time in December 2008 to become a top aide to incoming jay,carney,time,magazine,vice president Joe Biden. In 2009, Carney received a $58,000 bonus from Time for his work in 2008, when he directed presidential campaign coverage, and a $212,000 severance payment, according to his financial disclosure statement, released by the White House Monday.

A severance payment is usually associated with a buyout, but given that Carney resigned, it’s unclear why he would get a buyout. The White House had no comment as to whether Carney’s severance payment resulted from a buyout or something else, Politico reports.

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