Posted on 12/05/2005 8:20:11 PM PST by HonduGOP
'L.A.Times' Closes Plant, Cuts Another 110 Jobs
Published: December 05, 2005 9:30 PM ET
LOS ANGELES The Los Angeles Times said on Monday it is consolidating production at three facilities in downtown Los Angeles, and will close its Chatsworth plant, resulting in 110 job cuts.
The daily newspaper, owned by the Tribune Co., said it hopes to cut as many jobs as possible through voluntary separation packages.
``We deeply regret the impact this consolidation will have on employees, but the reality is that The Times has invested $500 million to modernize and build new facilities and expand color capacity since the Chatsworth plant became operational in 1983,'' Mark H. Kurtich, senior vice president of operations said in a prepared statement.
Consolidation in the newspaper's production facilities is expected to be completed in the first quarter of 2006, after which time the company will begin to sell the 250,000 square-foot Chatsworth facility.
Shares of Tribune Co., which have traded between $30.64 and $43.41 over the last year, lost 2 cents in after-hours trading after closing down 53 cents at $30.86 on the New York Stock Exchange
Like the Titanic.
LOL.
Saddam's new DNC/Ramsey Clark defense strategy, "Help, Help, I'm being suppressed by that war criminal Bush."
I wonder if Soros is planning to pick up the Tribune at fire sale prices.
Nice....
Either that, or he'll pull a "book-based fundraiser": buy a few thousand subscriptions and burn them or something.
Great news BUMP!
I'm flattered.
By the way, I wonder when The Los Angeles Times will join so many other corporations that have fled Kalifornia in order to relocate in more business friendly confines such as Arizona, Nevada, etc.? That way, they can stay in business while still being able, through their endorsement of liberal Democrats and their socialist, anti-American agenda, to foul the nest they have vacated.
About time people wised up and quit reading sensationalism hawked to those who cannot think for themselves. Not only is this media giant in trouble,look at the rest of the print media's papers. They are so one sided that only those seeking a job or those looking for the Sunday edition's coupons to cut out even buy their papers. Mass communications in print form, from all of our major cities is a dead end street. Except for those looking for a job or those who cut coupons, no one wants to read the Democrat's talking points every day. When has anyone seen any young person buy a paper? Newpapers today, are not what they used to be. They are masters of spin, sensationalistic journalism, and basically mute to addressing any views opposing those who print their garbage. Frankly, I hope this is a wake up call to the all left in this profession. While the pen is mightier then the sword- the pens have been shooting both the messenger and the message. I do not buy the local paper anymore. Writing is no longer creative or provacative, it is pure BS spin even in the editorials.
What does that mean? Is your keyboard afflicted by a poltergeist?
This could be a huge business opportunity for a fair-minded publisher would wanted to buy a newspaper, on the cheap. Imagine a national-level newspaper doing the whole 'fair & balanced' thing - what a concept! It's there for the asking.
Can't imagine why anyone would invest in newspaper stocks in this day and age.
In the case of the Tribune Company, the fact that they own WGN-AM (usually at the top of radio ratings in Chicago), WGN-TV (WGN as in "World's greatest Newspaper" and probably least humble) and the Chicago Cubs, might offset it a bit.
Are the laid off employees invited to the Christmas Party?
Funny thing is, in NYC, there IS now the New York Sun, a high-quality attempt to do a fair-minded (even conservative) NY Times.
They're doing everything right... good-looking, classy content, great op-ed section, only 25c... but they're not exactly setting the world on fire.
NYers... buy the SUN!!!!
(No, I don't work for them. And I should heed my own advice and buy them more often.)
WOW that is a pretty huge drop about the time of 9/11/05 wonder what they were writing that pissed people off so much>?
What does that mean? Is your keyboard afflicted by a poltergeist?
No, it was supposed to be a simple 'hahaha' but I'm spastic... :->
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.