In Philadelphia, nearly everybody agrees that the Inquirer has a knowing way with a dollar. Owned by the shrewd, multisided Triangle Publications (Seventeen, TV Guide, Morning Telegraph) of the Annenberg family, its morning paper (circ. 604,977) is the nation's fifth largest daily and its Sunday edition (circ. 1,108,209) is Philly's biggest, also ranks fifth in the land. But last week the Inquirer put the finishing touches on a financial deal that seemed entirely out of character: it was paying staffers bonuses to quit.
Behind the bonuses-for-quitting policy was an effort to pare down the...
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