Posted on 07/01/2009 7:10:59 AM PDT by AIM Freeper
Employees of the New York Times Co. received more bad news with the announcement of their retirement fund investment losses.
From the Boston Business Journal
The 401(k) retirement plan for New York Times Co. employees, including workers at The Boston Globe and Worcester Telegram and Gazette, suffered $154 million in investment losses in 2008, according to a regulatory filing.
Net assets of the plan for the Times, which owns the Globe and T&G, fell to $417.7 million.
The plan was particularly hard hit by some $171.5 million in losses within several mutual funds. For example, the plan’s largest holding, the Vanguard 500 Index Investment fund, suffered a nearly 40 percent loss in value. Another fund in the Times’ portfolio, the Vanguard Asset Allocation Investment fund, dropped nearly 32 percent year-over-year.
(Excerpt) Read more at aim.org ...
One.... Two.... Three.... “AAAAAAhhhhhhhhhh.... DARN!”
....But more good news for us! I love it when radical Fascists suffer...
Chickens coming home to roost.
I feel badly for the real workers. The people who run the presses, and the stock room, and drive the trucks, etc. Those people are just trying to make a living.
As for Times management and staff... I couldn’t be happier to see them fail.
Headlines
“OBAMANOMICS HITS NY TIMES HARD”
Beautiful news!
TARP funds to the rescue. Hussein doesn’t want any disgruntled admirers. Can’t cheerlead and cover up for the future President-for-Life if you actually have to worry about your retirement!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.