Yeah, so that was obvious.
Flash: Tribune Files For Chapter 11
Posted by Equity Private, Dec 08, 2008, 1:54pm
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Posted by guest , Dec 08, 2008 1:58PM
II long; didn't read.
Posted by guest , Dec 08, 2008 1:58PM
Couldn't have happened to a nicer guy.
Posted by Goldman Sachs Neophyte , Dec 08, 2008 2:12PM
Too short, didn't read.
- that guy from Goldman Sachs (a.k.a.: TGFGS)
Posted by guest , Dec 08, 2008 2:13PM
I can only presume this is the International Herald Tribune? Its a shame to see a halcyon icon of the international english community go under. I loved being able to pick up a copy virtually anywhere in the globe.
But when the NYT consummated its firm hold on the editorial and bureau staff it just seemed to be more of the same. I'm sorry to see it go for what it *was*, not for what it now is.
Posted by guest , Dec 08, 2008 2:14PM
Go Cubs!
Posted by AJ , Dec 08, 2008 2:15PM
@4 No. Parent of the Chicago Tribune, LA Times, etc
http://en.wikipedia.org/wiki/Tribune_company
and isn't the IHT owned by the NYT?
Posted by guest , Dec 08, 2008 2:16PM
@4, are you serious? come on.
Posted by american bandersnatch , Dec 08, 2008 2:17PM
The International Herald Tribune was essential prior to the internet. After that, well ......
Posted by guest , Dec 08, 2008 2:20PM
Dear New York Times,
How YOU Doin'?
Posted by AJ , Dec 08, 2008 2:20PM
I still cannot believe the employees agreed to have their ESOP roll and to have Zell's ~$300 million come in as sub debt with warrants.
Posted by guest , Dec 08, 2008 2:20PM
So after the Shelia Bair love fest from last week, no mention of Dugan's comments today about the ineffectiveness of loan mods?
Posted by guest , Dec 08, 2008 2:20PM
Zell was just screwing around with this thing. No surprise here.
Posted by guest , Dec 08, 2008 2:21PM
The Tribune went from a decent read to an absolute rag over the last 6 months. It looks like my canceled subscription last Friday finally pushed them over the cliff!
Posted by Spooky , Dec 08, 2008 2:22PM
Ah, thank you for the correction AJ.
The IHT is now owned by the NYT, but it once was a joint venture with the Washington Post and the London Times, giving it a sort of pan-atlantic feel.
I agree with #6. Even five years ago the International Herald Tribune was absolutely essential, now, less so.
Though when I was last in Russia, earlier this year, countless leagues from a Wi-Fi hub or even a broadband connection I found a fresh copy of the IHT sitting on a newstand. It was quite useful.
Posted by guest , Dec 08, 2008 2:33PM
Zell's brain fried some time ago. Most were just there for the ride. Take that motor cycle for a long ride. Your done.
Posted by VOL IS KING , Dec 08, 2008 2:37PM
who's gonna get the cubies? Dimon? Ackerman? Lewis?
Posted by guest , Dec 08, 2008 2:58PM
What was Sam Zell thinking???? He should have bought a newspaper stand!!
Posted by guest , Dec 08, 2008 3:03PM
There goes my Cubbies. Thanks Sam. Good idea paying top dollar for a company in a dying (if not already dead) business.
Posted by KevinB , Dec 08, 2008 3:20PM
Hmm.. NYT has to issue bonds secured by their HQ, Tribune files for Chap. 11 - can the WaPo be far behind? What's going to be left - USA Today and the WSJ?
I'm old enough to remember when reading the morning paper was a pleasant event - in fact, I remember haunting obscure shops across Europe to get day-old copies of the IHT just for the baseball scores - but ever since so-called "journalists" started becoming political cheerleaders, my readership has dropped off. The 'net has only sped that up.
Posted by guest , Dec 08, 2008 3:20PM
Somewhere, Mark Cuban is laughing.
Posted by Anal_yst , Dec 08, 2008 3:25PM
So the cubs, whatshisname from Madison Dearborn?
@10
That's a surprise? you think the average (or any) employees understood the risk of the transaction?
Posted by guest , Dec 08, 2008 3:27PM
Somewhere, Mark Cuban is laughing.
Posted by guest , Dec 08, 2008 3:52PM
Somewhere, Mark Cuban just ate a western omlette.
Posted by guest , Dec 08, 2008 4:07PM
Somewhere, Mark Cuban is insider trading while slam-dunking on a non-standard rim
Posted by guest , Dec 08, 2008 4:18PM
@21 - John Canning
Posted by guest , Dec 08, 2008 6:48PM
man I am burned, no Christmas party for me, lucky to have my job. Got off the train in my town and what do I see, the Daniel Gale Real Estate parking lot jammed. They were having a good ole time, a catered Christmas party, light ablaze in their office. So how come real estate brokers didn't have to give up their Christmas parties?
Posted by AJ , Dec 08, 2008 10:51PM
@19: Half of the Washington Post Co is Kaplan so it doesn't have the same risk level