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 ...
The union needs to hang tough against the greedy NY Times management and bond holders. The Boston Globe union needs to demand pay raises and extended vacations.
If I were in Mass I would join the union picket line in solidarity.
Remember when Bush was President and people actually bought newspapers and had jobs? I already cancelled Barrons, the WSJ and Forbes. All too friendly to Obama for my taste.
Looking for new editors to feed on.
......Boston residents have long resented the takeover of the Globe by a company based in New York,.....
If they can’t tolerate a New York owner, let the Loyalist yankees find one in London
The pressmen are unionized and so is the newsroom. All the reporters/writers are union members.
Careful what u wish for!!!!!!!!!!!
TABLOID format, FREE newspapers and reduction to just a few - what LAWS are at work here?
Happy dance!!
Don't worry! I, John Francois Kerry, will come and save the Boston Globe by giving it Millions of dollars of taxpayer money......all I ask in return are these 16 year old girls......
We'll miss you, Boston Globe...
NOT.
So what will Bostonions wrap their dead fish in now that the official “garbage wrap” is off the shelves?
Oh, the horror! (all that unwrapped fish)
Normally, You would be the Optimist with this statement, but in projecting The Globe may continue, You are being a Pessimist:-)
awwww...
I wonder if Obama will just give the paper to the Unions to run?
Just imagine that this Idiot pictured will Loose the advantage of loading up his NYT Losses on the GLOBE once he dumps it; and then its only time before the NY SLIMES sinks like the shadow of The Titanic it used to be before “PINCH” destroyed it! Hopefully his family will destroy him for destroying their Family Asset and Cash Generator!
New York Slimes, stop TALKING and SHUT IT DOWN! Then close yourself, too!
I stopped reading that rag after the Kerry run for the White House. Serves them right for being so biased. The only thing we want to read is news not false headlines. This paper would servive if they replaces the editor and reporters with the real thing. Real Reporter but they come out of the same journalism schools so never mind. Bye-Bye Boston glob. Whats Kerry going to do no endorsements in the future.
Hmmm. And nothing to do with the biased, liberal, claptrap they print, eh?
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