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Port of San Diego makes wild proposal for Tenth Avenue terminal
Casey Gwinn is the prototypical government welfare queen. That guy has never held a job, on his own, outside of government. He was an awful CA. He did not stand up for the overall community, and thereby allowed the few, the rich or connected few, run rough shod over everyone else.— September 5, 2008 7:27 p.m.
Union-Tribune Employees Camp Out All Night in Lobby To Be First in Line To Get Buyout Forms
Cerberus got Chrysler at a decent price-plus they have Toyota North Aerica's top executive to run it. I expect Chrysler to turn around. GM is another story. You do know GM owns Di-Tech mortgage don't you Don??? GM made more money off of mortgages from 2002-2006 than they did cars.— September 5, 2008 7:21 p.m.
Union-Tribune Employees Camp Out All Night in Lobby To Be First in Line To Get Buyout Forms
New owners may or may not have to honor contracts. It depends on how a deal is structured. For example, a new owner could buy only certain assets of the UT and leave any liabilties on Copley Inc's books. Copley Inc could then file BK and fades away into the sunset of San Diego history. ==== ===== #19: Interesting (and maybe plausible) scenario. I know for a fact that at least some of the buyout agreements at Copley's Midwest papers were guaranteed by the individual papers, not Copley. But these obligations were not transferred to GateHouse in the sale and became Copley's obligations. ==== ====== If Copley sold the paper and retained the pension liability and declared BK that would be a fraud, and that is simply not going to fly in court. BTW-fraudulent debts cannot be discharged in BK. So unless David Copley and any potential new owner wants to end up in court with their personal assets on the line I would advise against it. In fact a very similar buyout situation is in court right now between Mervyns and the two Private Equity Firms who bought Mervyns out-and pulled a similar switcharoo. The courts are simply not going to allow someone to take all the assets and then BK liabilities. http://www.latimes.com/business/la-fi-mervyns5-20… Mervyns accuses ex-owners of causing its bankruptcy The department-store chain says it was stripped of valuable real estate, which was later leased back at higher rents. That 'led to Mervyns' bankruptcy,' the firm claims in a lawsuit. The $1.2-billion acquisition of Mervyns by a group of investors led by Sun Capital Partners Inc. and Cerberus Capital Management was a "fraudulent transfer," according to the suit filed Tuesday in federal Bankruptcy Court against 37 defendants.— September 5, 2008 2:21 p.m.
Port of San Diego makes wild proposal for Tenth Avenue terminal
Outside the little snow-covered cabin, a large pile of firewood was stacked like Pamela Anderson.— September 4, 2008 2:11 p.m.
Port of San Diego makes wild proposal for Tenth Avenue terminal
My apologies to the bandits I have missed. === === Boston MASS— September 4, 2008 2:05 p.m.
Port of San Diego makes wild proposal for Tenth Avenue terminal
The cat is out of the bag and this dog don't hunt.— September 3, 2008 9:27 p.m.
Union-Tribune Employees Camp Out All Night in Lobby To Be First in Line To Get Buyout Forms
The UT must honor any prior contract regardless of who buys the paper. They are on the hook, so new owners cannot come in and say we won't honor any prior contracts.— September 3, 2008 11:21 a.m.
Local Newsweek Correspondent Pleads to Chargers: "Don't Bolt!"
Instead, politicians get to use the reimbursement money as they choose and then yell about firefighters making OT. ========== No one would be yelling about overtime if it were a market wage for a person with a GED and some FFing experience. But if you're going to pay OT wages based on Doctors wages then people get bent out of shape.— September 2, 2008 6:38 p.m.
Union-Tribune Employees Camp Out All Night in Lobby To Be First in Line To Get Buyout Forms
I am pretty sure David Copley has a buyer for the paper and the buy out is contingent on reducing expenses through payroll. My question to Don is this-has there been any large daily paper in an major market that has filed BK or been liquidated within the last 5 years??? If yes-were they the only daily paper in town like the UT?? I just cannot see someone buying the paper just to shut it down. San Diego is a major market and if the ONLY daily closes down that would leave a HUGE gap in the market. Just does not add up or make sense.— September 2, 2008 3:01 p.m.
Local Newsweek Correspondent Pleads to Chargers: "Don't Bolt!"
JF, you are NOT at work in New Orleans.— September 2, 2008 8:56 a.m.