Posted on 05/04/2009 6:31:14 AM PDT by Zakeet
The New York Times Co. said last night that it is notifying federal authorities of its plans to shut down the Boston Globe, raising the possibility that New England's most storied newspaper could cease to exist within weeks.
After down-to-the-wire negotiations did not produce millions of dollars in union concessions, the Times Co. said that it will file today a required 60-day notice of the planned shutdown under the Worker Adjustment and Retraining Notification law.
The move could amount to a negotiating ploy to extract further concessions from the Globe's unions, since the notice does not require the Times Co. to close the paper after 60 days. The deadline, however, would put the unions under fierce pressure to produce additional savings, and the Boston Newspaper Guild promptly called the step a "bullying" tactic by the company.
Some industry observers have expressed skepticism that Times Co. Chairman Arthur Sulzberger Jr. would want his legacy to include the shuttering of the Globe, which his company bought in 1993.
But the Times Co. itself is under strong financial pressure. It recently mortgaged its new Manhattan headquarters, borrowed $250 million from a Mexican billionaire at 14 percent interest, laid off 100 newsroom staffers and cut salaries by 5 percent.
Globe management said in a toughly worded statement: "Filing the WARN notice is a difficult step that we would like to avoid. But, unfortunately, given the state of the negotiations, it is one we must be prepared to take."
The paper's circulation dropped 14 percent in the most recent six-month period. The Globe is expected to lose $85 million this year, the company says.
Boston residents have long resented the takeover of the Globe by a company based in New York, with which the region competes in sports, banking and cultural bragging rights.
(Excerpt) Read more at washingtonpost.com ...
is this shut down TOTALLY or that shut down but BS come back as internet slandersite?
WH BREAKING NEWS>>>>>>>>
OBAMA DEEMS BOSTON GLOB TOO BIG TO FAIL!!
WILL USE FEDERAL FUNDS TO CREATE 55% UNION STAKE.
NY Slimes practicing for its own future shutdown.
Too lib to fail!
Farewell, Boston Globe. Please take the NY Times with you as exit from this universe.
Maybe their little buddies at the White House should bail them out.”
Don’t give ‘em any suggestions or laugh about that - that one CA professor lady that’s some new ‘advisor to the Pentagon’ (what a bizarre time we’re dealing with) already suggested that the government bail out the newspapers, because they’re so ‘vital’ to the proper running of the country. Uh huh...where are the Dems going to get their free ride, free publicity, phony cover and supposed moral authority...(what a joke)
“toss some of the monopoly money our way”
Don’t we wish that’s all it was, and that’s all zero had to work with.
Sorry - but it looks now likely that the Globe is not yet finished. But it may only be a matter of time:
The Boston Globe will live to fight another day. To no one’s particular surprise, the newspaper’s management said this afternoon it won’t file the 60 days’ notice required to shut down operations after six of its seven unions came to terms. Unions representing delivery truck drivers, mailers, press operators, electricians, machinists and technical services workers all agree to concessions demanded by the New York Times Co. to keep the newspaper publishing. The lone union still holding out is the biggest one: the Newspaper Guild.
Guild leaders left a negotiating session this morning without a deal. The two sides are reportedly polarized over the issue of lifetime job guarantees extended to about 190 of the Guild’s 600 members. Other unions with similar guarantees have reportedly make concessions, but the Guild is holding firm. Ironically, the guarantees were put in place by many newspaper companies in the 1960s and 1970s to help management streamline the process of automating their production facilities. As the fortunes of these businesses have plummeted in recent years, the guarantees have become an albatross around management’s neck.
Boston.com’s coverage of the news bore an unusual headline: “Globe says it won’t file notice to close plant.” The choice of wording would indicate that the New York Times Co. hasn’t yet withdrawn its threat to close the newspaper, although that possibility now seems remote. Union members must still ratify the proposed agreements and if the Guild doesn’t come to terms, it’s possible that the whole saga could start up again.
I thought the New York Times sided with the unions taking on Big Evil corporations...
“Useful idiots who betrayed America. They should consider themselves lucky they aren’t in jail for their stunt.”
They should be SHOT for treason, filthy SOBs.
Amazing but they did not cover it.
They earned their unemployment.
One less liberal mouthpiece / puppet. Soon to be followed by the NYT I hope. What am I going to line my birdcage with now?
My suggestion is that the Times funnel what little money they have left into the sinkhole that is the Boston Globe. Hopefully they’ll both go out of business simultaneously.
Possibly. But you can't imagine how pernicious an influence the Boston Globe has been in Massachusetts. It really is the heart of the Beast. I'm pinching myself. It seems too good to be true.
Tonite Hannity said there are 10 from the White House Press Corp (PRAVDA) who have now joined the administration’s payroll, so probably many from Globe and other papers will find employment at 1600 Pennsylvania Avenue as well. :(
nytimes and los angles times dont compete on anything, thats the problem
i mean los angles times = boston globes
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.