You have to figure the top editor at papers that size are making a few hundred thou. I think it's ridiculous to pay an editor at a midsize that much unless he/she is the second coming of Ben Bradlee, given that in my experience I haven't seen one come in and substantially improve circ/bottom line without a major investment in expanding staff and space -- although I have seen some really screw up a product.
Miamiheraldchick, your paper cut its Broward publisher five or so years ago to save money. He was only the best newspaper person I ever met and he's gone on to some nice jobs since. I would say we are seeing an unusual amount of this now, but not without precedent.
Mizell, the new Akron editor, seems OK. They were talking about killing the sports desk a couple years ago in favor of a universal. I wrote to him telling him why I thought it was a mistake. I expected nothing, but he sent me a long, thoughtful response. We disagree, but I have to respect that he did his homework and had sought a consensus from his sports people. I have to think Akron is in caring hands.