Proceeds from the ads below will be donated to the
Bob Wuesthoff scholarship fund.
Monday, December 08, 2008 |
Tribune Co. Files For Bankruptcy
It's not a rumor anymore: Times parent and Cubs owner Tribune Co. has filed for Chapter 11 bankruptcy. LA Observed's Mark Lacter has more on this; apparently severance pay promised but not yet paid will be vanished. Also, employees in the ESOP may be getting totally screwed, as they own close to 100% of the company's common shares, and "they usually recover next to nothing" in a bankruptcy.
Supposedly this won't affect the Cubs, but we'll see.
Labels: cubs, newspapers, times
Newer› ‹Older
 |
Post a Comment
Note: Only a member of this blog may post a comment.