On Mon, 08 Dec 2008 12:52:58 -0800, Larry Jaques
wrote:

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Tribune Considering Filing for Bankruptcy Protection, WSJ Says

By Jennifer Sondag and Sarah Rabil

Dec. 8 (Bloomberg) -- Tribune Co., the newspaper publisher and
broadcaster taken private by billionaire Sam Zell last year, is
considering filing for bankruptcy protection, according to the
Wall Street Journal.
snip
Tribune continued talks with lenders to restructure its debt in
recent days, the Journal said. The Chicago-based company, saddled
with $11.8 billion in debt from the $8.3 billion buyout of the
company last December, has been cutting jobs and selling assets
including Long Island’s Newsday to reduce its obligations.
snip

Question: How does some entity which is $3.5 BILLION in debt borrow an
extra $8.3B for a merger?!?

Remember those banks that were lending money to people based on distorted
views of the way the world should work?? The whole Private Equity Company (buy
someone with a loan and then make _them_ pay it off) thing is not far short of
fraud.



--snippage--
beneficiaries, and total assets of over $800 million. The Tribune
Company Master Retirement Savings Trust had over $2.2 billion in
assets for the 2006 plan year listed on Schedule H of Form 5500.
A really interesting part of this litigation to watch will be the
ultimate attorneys fees awarded when this litigation ends.

That's enough to make a mortician puke, and they don't puke easily.

Isn't the retirement trust fund inviolate? If not, you need some legislation
fast!

Mark Rand
RTFM