4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

Copley Slashes Retiree Health Benefits

Copley Newspapers today (March 17) announced deep cuts in health care coverage for retirees. In trying to lure certain employees to take buyout offerings the last several years, the company had promised to pay 75 percent of medical coverage until the employee was eligible for Medicare. This will end March 31-- giving these retirees only two weeks to plan. The company will cover 75 percent of the costs of COBRA, or temporary insurance, until the end of the year in most cases. COBRA permits employees leaving a company to continue group coverage, usually for a short period. However, the expense is high. In its message to retirees, Copley said, "We know these changes may be difficult for you and your families." The message spoke of difficult economic times, particularly for the newspaper business. One revelation of sorts: the company said it is preparing "for sale of its remaining newspaper, the San Diego Union-Tribune." Some had wondered if the company had abandoned that effort.

Here's something you might be interested in.
Submit a free classified
or view all

Previous article

George Sterling: calm hub of wild Bohemian Carmel community

Celebrated by Jack London, Upton Sinclair, Theodore Dreiser and Sinclair Lewis
Next Article

San Diego's bad ol' nasty days

How Kori Jensen owns home and rents it out part-time

Copley Newspapers today (March 17) announced deep cuts in health care coverage for retirees. In trying to lure certain employees to take buyout offerings the last several years, the company had promised to pay 75 percent of medical coverage until the employee was eligible for Medicare. This will end March 31-- giving these retirees only two weeks to plan. The company will cover 75 percent of the costs of COBRA, or temporary insurance, until the end of the year in most cases. COBRA permits employees leaving a company to continue group coverage, usually for a short period. However, the expense is high. In its message to retirees, Copley said, "We know these changes may be difficult for you and your families." The message spoke of difficult economic times, particularly for the newspaper business. One revelation of sorts: the company said it is preparing "for sale of its remaining newspaper, the San Diego Union-Tribune." Some had wondered if the company had abandoned that effort.

Sponsored
Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Union-Tribune sold cheap to Platinum Equity

Plus Copley Library, La Jolla headquarters, land next to Foxhill
Next Article

Tribune Co. Files for Bankruptcy, Saddled with $13 Billion in Debt and Decline in Ad Revenues

Comments
30

THE UT HAS BEEN SOLD!

March 18, 2009

U-T HAS BEEN SOLD!!!

March 18, 2009

The UT is not going to be sold. The newspaper industry is in the toilet and getting worse. The paper has been for sale since last July-if there was a willing buyer it would have been sold.

It would be a stupid move to buy the UT unless it was almost free. If it wa me I would sit on the sidelines with a low ball offer and just let the UT go into the ground and wait, and make the UT take the low ball-or wait until it goes BK and then buy it.

March 17, 2009

Other news..I heard the SDUT has not committed to their sponsorship of the Thunder Regatta, the Unlimited Hydroplane races, held at Bayfair this year. That is likely to end the annual hydroplane races on Mission Bay.

March 17, 2009

I thought the beer companies were the major sponsers for the Thunderboats????

Sponsership for everything is way down. BTW-where is Bayfair?

March 17, 2009

Response to post #1: I have said all along that everything depends on whether the U-T is making money or has positive cash flow. The recent moves, including the one today, suggests it is not making money and is not cash flow positive. So what's it worth? The 99 year lease on the Mission Valley property may be worth something (there is an option on another 99 years, as I understand it), but the buyer would have to decide what to do with the U-T. Liquidate it? Make it all- or partly-online? Slash the payroll further and try to make it with the ink-and-paper edition, along with online? There are several good papers on the market, including the Miami Herald. These haven't sold, either. But today's message to retirees certainly indicated that the company still intends to sell the U-T. But to whom?Best, Don Bauder

March 17, 2009

Response to post #2: I can't imagine that the company would continue that kind of largesse. Best, Don Bauder

March 17, 2009

Response to post #3: I thought it was winemakers -- as in Thunderbird. Best, Don Bauder

March 17, 2009

Bayfair will continue... my mistake. Boeing is the major sponsor this year. But the SDUT pulling out almost cut San Diego.

Even though Boeing corporate moved to Chicago, they are still loyal to their Seattle roots. The hydroplanes started in Seattle and now race in 8 cities.

This is Bayfair...http://www.sandiegobayfair.org/main.htm

Anheuser-Busch used to be a sponsor of the races, but retired Miss Budweiser in 2002.

March 17, 2009

I wonder who owns the land and the 99-year lease. Probably the descendents of some poor sod buster who farmed the property, or raised cows, before land in Mission Valley became valuable. The leaseholders probably reside in La Jolla living the life of Riley on the lease payments.

March 17, 2009

I wonder who owns the land and the 99-year lease. Probably the descendents of some poor sod buster who farmed the property, or raised cows, before land in Mission Valley became valuable.

The land lease has probably been sold several times over.

I would like to know what the lease rate is.

I do not think you can do an option on any land lease if it would exceed the 99 years of the total lease. The 99 years is in there for a reason, and by putting in options it would destroy the purpose of limiting land leases to 99 years.

March 17, 2009

Response to post #7: Now we know. Best, Don Bauder

March 17, 2009

Response to post #8: As far as I know, Copley got the lease from the Golden Co., which long ago was sold to a large construction company. A lease that long is usually the same as ownership. Incidentally, I have not received confirmation that the company has a 99 year lease on that land with an option for a second 99 years, but I think it is good information. Best, Don Bauder

March 17, 2009

Other news..I heard the SDUT has not committed to their sponsorship of the Thunder Regatta, the Unlimited Hydroplane races, held at Bayfair this year. That is likely to end the annual hydroplane races on Mission Bay.

=============

This is certainly good news. I've hated the hydroplane races since the mid-1960s, and the noise pollution the races generate. They should move the races from San Diego to the Salton Sea.

March 17, 2009

Response to post #9: I don't know that the lease has been sold. It's conceivable that at some point Copley bought it and took on ownership. There is a lot of land there, but the market is no doubt extremely soft now. Ditto for the La Jolla land. Best, Don Bauder

March 17, 2009

Burwell, sorry the thunder-boats bothered you. They only race for a few days a year.

The noise pollution that bothers me more and is more frequent than hydroplanes is the vocies of Scott Peters and Jerry Sanders. That IS noise pollution.

March 17, 2009

The Borrego Sun, for 60 years a fixture in the desert community, reportedly has been sold by The Copley Press Inc. to part-time resident Patrick Meehan, who runs a British entertainment firm.

http://www3.signonsandiego.com/stories/2009/mar/17/bn17borrego-paper-sold/?zIndex=68621

March 18, 2009

Response to post #14: Yes, the noise emanating from City Hall has been noise pollution for some time. Best, Don Bauder

March 18, 2009

Response to post #15: Copley had said it wanted to sell the Borrego Sun, but had not announced a sale. It still hasn't done so: this morning's story said the paper had been "reportedly" sold. The people receiving the bad news about their health coverage yesterday were the first to get the news: they were told that the Union-Tribune was the last remaining newspaper. They inferred that Borrego had been sold. Best, Don Bauder

March 18, 2009

Looks like I put my foot in my mouth on my earlier comments about the UT not being sold.

But, has there been a purchase agreement subject to due dilligence,* or has the paper actually been sold, deal closed???

March 18, 2009

Was that Karin Winner's head that just rolled by?

March 18, 2009

This is the most exciting thing that has happened since Gordon Gekko bought BlueStar Airlines!

March 18, 2009

This is the most exciting thing that has happened since Gordon Gekko bought BlueStar Airlines!

That's right "Buddy Boy"........LOL..no one is going to get this unless they have seen "Wall Street".

March 18, 2009

I adore Hellcat....

March 18, 2009

Response to posts #18 and 19: Yes, see posts above. Best, Don Bauder

March 18, 2009

Response to post #20: I am not aware of any "subject to due diligence" clause, but both Platinum and Copley are privately held, and certainly won't release much information. Best, Don Bauder

March 18, 2009

Response to post #21: I would think that Black/Platinum would install its own management. I would certainly hope so. Best, Don Bauder

March 18, 2009

Response to posts #22-23: Well, Platinum is a private equity group that buys, purportedly fixes, and flips distressed companies. It's Gordon Gekko-like. But as I said in another post, Platinum appears to be more of an asset flipper than an asset stripper. Best, Don Bauder

March 18, 2009

Response to poste #24: No doubt he or she has other admirers. Best, Don Bauder

March 18, 2009

At least we can put to rest any positive lingering doubts about the owner of the world's largest composite yacht. I wonder what breakthroughs the UCLA theater department is achieving in its study of costume design.

March 22, 2009

Sign in to comment

Sign in

Art Reviews — W.S. Di Piero's eye on exhibits Ask a Hipster — Advice you didn't know you needed Best Buys — San Diego shopping Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits City Lights — News and politics Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Excerpts — Literary and spiritual excerpts Famous Former Neighbors — Next-door celebs Feast! — Food & drink reviews Feature Stories — Local news & stories From the Archives — Spotlight on the past Golden Dreams — Talk of the town Here's the Deal — Chad Deal's watering holes Just Announced — The scoop on shows Letters — Our inbox [email protected] — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Of Note — Concert picks Out & About — What's Happening Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Pour Over — Grab a cup Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Set 'em Up Joe — Bartenders' drink recipes Sheep and Goats — Places of worship Special Issues — The best of Sports — Athletics without gush Street Style — San Diego streets have style Suit Up — Fashion tips for dudes Theater Reviews — Local productions Theater antireviews — Narrow your search Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Waterfront — All things ocean Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close