Union loving NY Times to shut down Globe on impasse with union?

[DougMD]

I find it humorously ironic that the most liberal, labor-loving newspaper may have to shut down one of its subsidiary newspapersbecause its unions won't make enoughconcessions tokeep it from going under.I wonder if it will ever dawn on them that sometimes unions can hamper profitability?Nah!!!

Boston Globe's Management Threatens Shutdown
Monday, May 04, 2009

[/b]
BOSTON"” The management of The Boston Globe threatened late Sunday to begin the process of shutting down the newspaper in a dispute with its unions over $20 million in cuts.[/b]
The Globe's owner, The New York Times Co., said it had given the Globe's biggest union a copy of a notice it was prepared to file Monday if it was unable to agree on the concessions by midnight Sunday, a deadline that passed without word from the union or the Times Co. The 60-day shutdown notice is required under federal law.
The newspaper's largest union, the Boston Newspaper Guild, called the move a "bullying" tactic by the Times Co.
The Times Co. last month threatened to close the Globe unless its unions agreed to $20 million in cuts, including half from the Newspaper Guild.
In a statement released two hours before the midnight deadline Sunday, the Guild said its proposal calls for "tremendous sacrifices, across virtually all categories of compensation and benefits."
The Guild did not release specifics on what kinds of wage or benefit cuts it had proposed to the Times Co. The union said further details would be made public once all Guild members have had a chance to review them.
It was unclear whether the Globe's other unions had made proposals for the remaining $10 million in cuts.
The Times co. would not comment on the Guild's proposal.
Like many other newspapers, the Globe has been struggling amid declining advertising revenues and dropping circulation as readers migrate to the Internet. The Globe had $50 million in operating losses in 2008 and is projected to lose $85 million this year.
The Times Co., which bought the Globe in 1993, has said that of all its newspaper properties, the Globe has been the most dramatically affected by the recession and the advertising downturn.
New York Times Co. Chairman Arthur Sulzberger Jr. said at the company's annual shareholders meeting last month that more needed to be done to align the Globe's costs and revenues.

[bergall]

I would think that with but few exceptions, the print media is considered to be inaccurate at best, and corrupt and partisan at worst.
People no longer consider 'reading the paper' as a viable means of getting the news, advertisers are finding better ways to peddle
their wares, and fewer papers are being sold.

I think it's a good thing...now they can reap the rewards of all that 'competition' they love so much for everyone else, and to try
to compete with that which they cannot (broadcast media, internet news, etc.). It's only fitting, I would think. Also, it would give
me great pleasure to see the vile and corrupt NY TIMES shut it's doors when it becomes unable to peddle it's liberal rag to people
who will eventually know enough to state that even NEWSDAY is more dependable...hehehe.

[kevin1]

I can't think of any corporations that "loves" their union, most hate them and would love to be rid of them. The Globe is going down because it can't compete, not simply due to excessive costs, and as Darwin postulated "That which fails to compete dies."

[DougMD]

The NY Times is a liberal newspaper that is quite friendly that has printed quite favorably of big labor, as most liberal news media have. They aren't competitive for a few reasons. First,many now get their news from the internet, which updates news quickly after events happen. So revenues have plummeted. However, on the other side of the equation, unions quite often push labor costs to a level that makes companies struggle to survive. I just find it ironic that a union lover might go under because of disagreements with the union. I was shocked to see major union concessions in the car industry, but then realized it's only because it's probably too late to save their jobs anyway. Sometimes unemployment itself is the pain people have to feel to back off their demand to be paid $50 plus an hour, 5 week vacations, etc.

[Doe Dumper]

Look for government to step up with a bailout for them as they push the Fairness Doctrine a little harder. They cant be losing their main source of misinformation guys...

[Fieldmouse]

ORIGINAL: Doe Dumper

Look for government to step up with a bailout for them as they push the Fairness Doctrine a little harder. They cant be losing their main source of misinformation guys...

I hope we don't have to fight that battle but I'm ready to see the court fight should they pass the fairness doctrine. To target a single source of media outlet while letting the other sources skate I don't think it will fly. If the Dems think they can control content over the radio, then the same should apply to news papers and regular broadcast TV news.

[burniegoeasily]

Oh sweet Irony

[falcon]

Look for government to step up with a bailout for them as they push the Fairness Doctrine a little harder.

Obama says no bailout for newspapers.

The New York Times itself is in dire financial trouble. They have a 400 million dollar loan coming due this month. Recently the NY Times borrowed 225 million just to stay afloat. With any luck both the NY Times and the Globe will go belly up.

http://www.businessinsider.com/2008/11/cash-crunch-at-new-york-times-nyt-400-million-due-in-may

[jeepkid]

Didn't they borrow a bunch of money from Mexico or Argentina or something like that to try and stay afloat?

[falcon]

Didn't they borrow a bunch of money from Mexico or Argentina or something like that to try and stay afloat?

Yep, they got 225 million from fat Slim the richest Mexican.

http://in.reuters.com/article/businessNews/idINIndia-37509420090120

NEW YORK (Reuters) - The New York Times Co. said it will get a $250 million investment from one of the world's richest men, Mexican billionaire Carlos Slim, a move that will give the company much-needed time to clear financial hurdles.