McClatchy files bankruptcy to shed costs of print legacy and speed shift to digital

McClatchy ^ | February 13, 2020 | By Kevin G. Hall

[norwaypinesavage]

" the scale of our 75-year-old pension plan – with 10 pensioners for every single active employee – is a reflection of another economic era.”

No, it's a reflection of very-very bad management. McClatchy management lied to employees and underfunded its pension plans. Now it wants the US government, you and me, to bail it out. It will screw its retirees, employees, and us taxpayers, so that the current management team, the ones who perpetuated the scan, can keep working.

[mythenjoseph]

I read the article and they are turning over the “pension” to a federal program and contributing 3.3 million yearly to fund it. Not knowing what their obligations are to its retirees money wise ,its hard to know what 3.3 million a year can cover and what is going to be picked up by us (taxpayers.)

[pepsionice]

In rural regions...the red counties that Trump carried, I think the small stations are still ‘bread and butter’ to the public.

[SaveFerris]

Didn’t know about that one.

[SaveFerris]

That’s awesome.

I called one of their rags “a McClatchy operation” with disgust to one of their operatives (no personal insult was meant to him when I said it).

I said I didn’t read the rag because it was a McClatchy operation.

I wonder what he thinks about it today.

[SaveFerris]

11 cents now?

(when I checked a few minutes ago - the CNBC site crashed my browser)

McClatchy Co (MNIQQ:OTCPK)
+ WATCHLIST
Real Time Quote | Exchange | USD
Last | 11:47:26 AM EST Volume 52 week range
0.11 -0.6398 (-85.3%)