Posted on 12/08/2008 10:50:48 AM PST by Rutles4Ever
Media conglomerate Tribune Co. has filed for bankrutpcy protection, pressured by high debts, according to the Associated Press.
(Excerpt) Read more at chicagotribune.com ...
Everyone is overlooking one key point..it was the idiotic BANKERS who lent Zell the money for the deal. Look, anyone can concoct a harebrained scheme..but the bankers, the supposedly smart folks..are the ones who should have seen that this had NO chance in Zell of succeeding...but the banks get their fees up front, and book them as income, and get the big fat bonuses..
IIRC, Zell personally had $350 million of skin in the game. Hank Greenspun had $150 million. On a percentage basis, Zell had little of the risk.
Don’t get me wrong, $350M is a lot of money, but Zell won’t go hungry anytime soon.
How much longer will the LATimes keep operating?
I want the Tribune’s creditors to shut down LATimes operations ASAP. That will be one less major Obamunist propaganda organ we have to contend with.
Hank Greenspun. He's also on the Tribune board of directors.
This leftist whacko also ran the socialist rag "Las Vegas Sun" into the ground. The Sun is now one of those "judicial legacies". Mandated by the courts to be subsidized by a decent profitable newspaper in what otherwise would be a one newspaper town. The Las Vegas Review-Journal delivers The Sun as an insert.
Greenspun's bucks actually come from the profit motive; he owns huge magazine presses.
His newspaper interests, what's left of them, are totally leftist and subsidized by his other commercial enterprises. Greenspun is one of these Third Way commies who use the capitalist system to promote socialism.
yitbos
I know, that’s why I want the Tribune’s creditors to shut down the LATimes’ operations.
I don’t know. But the way revenues are declining, a point will be reached where there will not be enough money to put out a paper and deliver it.
One thing to consider, is that the creditors will want to keep the thing running to generate some cash. Their book value (property, plant and equipment) is negligible compared to the debt. So expect to see more massive layoffs in a effort to squeeze as much cash as possible from revenues.
“So expect to see more massive layoffs in a effort to squeeze as much cash as possible from revenues.”
Very well then, instead of dying a quick death, the creditors will just the few remaining tear chunks of flesh from this pig and let the rest of the body bleed painfully to death.
:)
Very well then, instead of dying a quick death, the creditors will just the few remaining tear chunks of flesh from this pig and let the rest of the body bleed painfully to death.
that should be
instead of dying a quick death, the creditors will just tear the few remaining chunks of flesh from this pig and let the rest of the body bleed painfully to death.
Couldn’t have happened to a nicer bunch of leftwing propagandists.
Even with the internet, I still think there's a place for hardcopy newspapers in our society. Just not one newspaper, or one point of view. Competing papers with competing interests.
The good thing about newspapers is that the printed story cannot be changed. It can be rewritten in the next edition, but the original news story and what it contains stand for all time. Whereas internet news usually only contains the latest version of a story. If you missed reading the story the first time, you're out of luck. The original story gets erased forever, supplanted by revisions.
Whose purpose does that serve?
Regardless, I cannot see the LA Times putting out a paper newspaper much past next summer. This is just a SWAG (semi wild-a$$ guess) based on how fast the revenues are declining.
I think it going be veryyyyyy sooon BIG TIME LA Liars be shut down my father want to know what paper he should buy now
ONLY GOOD thing about LA Times Abb in this area is coupons, Wal mart and Walgreen ads LOL!
HEY FOLKS I got memo here from Sam Zell
http://www.breitbart.com/article.php?id=D94UP9J83&show_article=1
Today, the stock (ticker symbol=TXA) went from ~$18 to a buck and change at last check. Ouch!!!
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