This blog is mainly about the spectacular train wreck at The Sacramento Bee and its parent company, the McClatchy Company. But I also post about current events, the Iraq and Afghanistan wars, politics, anything else that grabs my attention. Take a look around this blog, hope you enjoy it.
Monday, December 22, 2008
Monday Dec. 22 -- Got news or a question?
If you have news or a question, leave it in comments. . .
I worked @ the Tacoma news tribune for a few years. I was wondering about the retirement plan I have with them. Is it going to be there when they file for a chapter 8 or 11 as I think they will. following the stock from 05 until now It is down hill all the way. A $75.00 stock to &1.00 stock in about 4 years. Is there a bright side?
Good question. Knight Ridder retires just got a notice that their trust management was being taken over by McClatchy and will still be managed through Northern Trust which they already had. It wouldn't surprise me a bit to see McClatchy try and raid it if there is a way for them to get away with it. They have proved to be pretty much a pack of thieves, so anything is possible.
if you are in a pension plan, federal ERISA law says it is supposed to send you a statement each year on its assets and obligations; plans that can't meet obligations could end up, in a bankruptcy case, in the federal Pension Benefit Guaranty Corp. and have benefits reduced. mcclatchy probably can't estimate plan yet since stock market fell steeply.
3 comments:
I worked @ the Tacoma news tribune for a few years. I was wondering about the retirement plan I have with them. Is it going to be there when they file for a chapter 8 or 11 as I think they will. following the stock from 05 until now It is down hill all the way. A $75.00 stock to &1.00 stock in about 4 years. Is there a bright side?
Good question. Knight Ridder retires just got a notice that their trust management was being taken over by McClatchy and will still be managed through Northern Trust which they already had. It wouldn't surprise me a bit to see McClatchy try and raid it if there is a way for them to get away with it. They have proved to be pretty much a pack of thieves, so anything is possible.
if you are in a pension plan, federal ERISA law says it is supposed to send you a statement each year on its assets and obligations; plans that can't meet obligations could end up, in a bankruptcy case, in the federal Pension Benefit Guaranty Corp. and have benefits reduced. mcclatchy probably can't estimate plan yet since stock market fell steeply.
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