Speaking of crap:
"Two suitors for Globe join forces to submit bid" by Robert Weisman and Beth Healy, Globe Staff | July 3, 2009
Like pension funds at many companies, the Globe’s funds have been squeezed over the past year by the stock market decline. When they become “underfunded,’’ meaning they no longer have enough money to cover pension payments for retirees and eventual retirees, companies are required by the US government to make annual contributions to bring them back to full funding.
While the executives took BONUSES as the rag was losing $$$!!
That means any buyer of the Globe who assumed the pension liability would have to use money from earnings to boost pension reserves.
All the MORE REASON NOT to buy the loser!
Officials for the Globe and the Times Co. declined to comment yesterday.
The pension liability is thought to be one factor dampening interest in the Globe, which, like newspapers across the country, is suffering from the economic downturn and the loss of readers and advertisers to the Internet.
Because WE TELL the TRUTH!! See: The Boston Globe Just Doesn't Get It
The Times Co. has reported that the Globe lost $50 million last year and was on track to lose another $85 million this year before it negotiated $20 million in union concessions, implemented other cost-savings moves, and raised newsstand and delivery prices significantly....
Not happy about that, so I don't buy it everyday like I used to.
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