Thursday, December 3, 2009

“Who’s the bankruptcy expert over here?”

Overheard in the newsroom:

Metro Reporter to Business Editor: “Who’s the bankruptcy expert over here?”

Business Editor: “All of us, pretty soon.”



Anonymous said...

Worse than company bankruptcy for old media employees:
“There’s no labor market for struggling/out-of-work media types with 19th Century job skills.”

Anonymous said...

Seriously, great blog but do you really have to give us play by play during the Oregon vs Oregon State game???

Anonymous said...

Please STOP the spam!!!!!

McClatchy Watch said...

8:36 what a game.

Anonymous said...

dunno if it's related to the pension fund losses, but McC is making more cuts at several papers (TBD in the next 1-2weeks) after quarter revenues were "less than expected" even though they are still making money...

Anonymous said...

Get a clue. Pension losses have no relationship to current layoffs. The company is not obligated at this time to make any pension contribution.

Additionally and despite what many believe, the pension is not something McCratchity can screw with. It is protected by the PBGC, meaning regardless of company's condition (bankrupty, etc.), pensions will be paid (albeit at a lower level for high wage earners).

Everyone getting or waiting for a pension check ought to do themselves a favor. Read everything you get related to your pension, visit the PBGC web site and quickly learn what a defined benefit is all about.

Knowledge is key here, not BS posts on blogs. Don't be lazy do some research on your own.

Anonymous said...

"Pension losses have no relationship to current layoffs."

WRONG ! MNI has to contribute to the fund and that money has to come from somewhere. It ain't coming from Pruitts paycheck.

A reminder to all. The MNI pension side (before the purchase) is underfunded.