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ABSOLUTELY!!!!!! Stop whining about the internet, and start kicking managerial ass!
"Major market papers typically have suffered from the greatest anachronisms in their cost structure due to everything from oppressive union work rules to just bad management. The instant at which you have heard a paper is shutting down or going online-only have typically involved cases where the legacy liabilities, cost structures or regulatory burdens of operating were overwhelming."
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Gary London, a local real estate analyst, valued Copley's two key properties at a combined $105 million and said they were likely "a major percentage of the transaction." London estimated the Mission Valley land's value at $100 million, calling it a "trophy property."
Real estate often attracts private equity buyers, said John Morton, a Maryland-based newspaper analyst. "They see opportunities for real estate to sell it and lease it back. Or to just sell it outright. They look at everything. They don't just assume that the way the newspaper operates is necessarily going to be the same."
Morton said the typical rule of thumb before the recession was that a newspaper would sell for $1,000 for each average daily subscriber. A newspaper like the Union-Tribune, which today averages 287,000 daily subscribers, would've sold for $287 million. Now, Morton said, that multiple is much lower, perhaps $500 per daily reader — or less.
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A private equity firm has bought The San Diego Union-Tribune, the two sides said Wednesday, ending eight decades of Copley family dominance of that city’s news media.
Copley Press and Platinum Equity, based in Beverly Hills, declined to say how much Platinum was paying, but a person briefed on the deal called the price “very low,” and said Platinum was the only serious bidder, The New York Times’s Richard Pérez-Peña reports. The sale will close in the second quarter.
The sale, which includes two small weekly papers, will be Copley’s exit from a business it entered in 1905, when Ira C. Copley bought a paper in Illinois. He built an extensive Midwest chain, and in 1928 he bought two San Diego papers, which merged in 1992.
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"The Environmental Protection Agency (EPA) will begin immediately implementing the restored rules for companies to report toxic pollution through the Toxics Release Inventory (TRI). According to an announcement on the EPA website, "These changes affect TRI reports due July 1, 2009," thus covering toxic release data from 2008."
The Environmental Protection Agency (EPA) will begin immediately implementing the restored rules for companies to report toxic pollution through the Toxics Release Inventory (TRI). According to an announcement on the EPA website, "These changes affect TRI reports due July 1, 2009," thus covering toxic release data from 2008.
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This rubs me thewrong way. Sounds like acartel to prop up a failed model
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This is great freedom of information news! "The Obama administration is ready to tell federal agencies to release records to the public unless foreseeable harm would result, a Justice Department official said Thursday."
"It was not immediately clear whether all pending lawsuits would be reviewed under the new standards. If not, the requesters could just file new freedom of information act requests for the same data after the new guidelines take effect."
"The new standard essentially returns to one issued by Attorney General Janet Reno during the Clinton administration. It would replace a more restrictive policy imposed by the Bush administration under which the Justice Department would defend any sound legal argument for withholding records."
Cracks me up that the source on this story is anonymous, though….
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