Posted on 04/08/2009 7:18:57 AM PDT by abb
Read this one carefully, including comments. The end of their World is nigh and nothing can be done about it.
http://cancelthebee.blogspot.com/
Look for another round of layoffs at McClatchy in June... company is on verge of violating debt covenants
The problem isn’t the bank covenants...the banks won’t foreclose..because they don’t want the company..and the assets are worthless....as compared to the debt...they will file when they can’t borrow anyomore, other than via debtor-in-possession financing...
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