LA Times Staffers Should Be Grateful They Have a Sam Zell Left to Sue
The End Times are upon us

While the class action lawsuit against billionaire and LA Times owner Sam Zell rages on, the staffers who decided to slap their bylines on the court docs should just thank their lucky stars that they have an employer left to rage against. Even if he is a scam artist that is bilking the company for millions in a (admittedly genius) tax exploitation manoeuvre, at least he offered a corporate bailout when no one else was biting. Yes, this is a case of "best of the worst," but while Zell may be fleecing the Tribune Co., he's still signing paychecks. Some newspaper companies aren't that lucky.

The Newark Star-Ledger, notified employees that they will most likely be shutting down in January, due to a balance sheet that looks like a Proactiv commercial's "before" shot and a lack of interest from potential buyers. Of course, no company wants to admit they've run out of money, so the official word on the Ledger is the pape can't strike a deal with the driver's unions. If only those truck drivers would shut up and finish their route, everything would be fine!

And then there is the curious case of the McClatchy company, where cutting ten percent of the workforce every couple weeks seems to be keeping the company afloat…for now.

So if you work at a print publication in the upcoming weeks, your options are limited to: Getting fired, going under, or getting scammed out of your 401k. Might Sam Zell actually be offering the best case scenario?

Sep 17, 2008 · posted by drew · Link · Respond
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