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NEW YORK Potentially sacked with $13 billion in debt on top of weak Q1 results the Tribune Co. is planning a new wave of job cuts, sources told the Chicago Tribune. According to Michael Oneal at the Chicago Tribune, 100 positions at his paper could be targeted for buyouts. It's not known how many cuts Tribune plans to make company-wide. If not enough people step forward to take the packages, Tribune could result to layoffs. On Thursday, Tribune reported a net loss of $15.6 million in Q1. Operating cash flow fell to $238 million from $271 million compared to the...

I attended a recent Investment in China and India Summit hosted by Financial Research Associates. I will use this forum to share some of insights that were given at this summit for the benefit of those hoping/thinking/planning on investing in an Asian country -- China, India, or Japan. Growth Capital- Dominant type of fund in Asia by number, especially in country-focused funds; focused on backing firms that are already established but are looking for capital to support strong growth. Buyouts- True control buyouts are a more recent phenomenon in Asia. Most funds focused on buyouts are larger Pan-Asian funds or...

The New York Times How to Look at a Gift Horse By MICHELINE MAYNARD Last week, General Motors, in a cost-cutting move, offered to pay 113,000 hourly workers and 13,000 workers at the Delphi Corporation to quit their jobs. That may sound like dream fulfilled to many people, but are G.M.'s buyouts really a good deal? G.M.'s blue-collar jobs, which pay $27 an hour with virtually free health care, are almost impossible to find elsewhere, said Gary Chaison, professor of labor relations at Clark University in Worcester, Mass. "They have to look at the possibility of earning wages that are...

NEW YORK The application deadline for the Boston Globe's buyout package passed yesterday, and media reports indicate that at least 34 editorial employees have applied for the deal. That number about matches the Globe's goal for cuts. Writing in the Boston Phoenix, former Globe media writer Mark Jurkowitz reports that those seeking buyouts include "eight staffers in a Living/Arts (features) department that would be hit particularly hard by the cutbacks." Jurkowitz adds: "The company still has to respond to the applicants as well as negotiate how long some of the departees will remain in their jobs. But among those confirmed...

News to Gladden the Heart ?? Or something ! Remember that lonesome Maytag Repairman ? It looks as if he is going to have company pretty soon. Whirlpool – a major competitor – has made a whopping big offer , that will likely include a lot of debt exchange between the two giants , a REALLY big payday for shareholders , and a REALLY big boot in the tail for a lot of actual repairmen. In case that falls through, the People’s Liberation Army of China is also interested,and has made an attractive bid. (That’s not the actual name on...

China is moving into the merger-and-acquisition major leagues, as its star corporations shop for American household names like Unocal, Maytag and IBM, looking for bigger profits through global ambitions. China's growing appetite for Western corporate icons is reflected computer maker Lenovo Group Ltd's recent takeover of IBM's personal computer business and two big deals reportedly in the making for Unocal Corp. and Maytag Corp. "I'd expect at least a half a dozen similar deals by the end of the year," said Jack J.T. Huang, chairman of international law firm Jones Day's Greater China practice. But the deals are not without...

Reuters UPDATE - Bethlehem Steel agrees to be acquired by ISG Wednesday February 5, 1:47 pm ET (Adds details on the terms of the deal, background) BETHLEHEM, Pa., Feb 5 (Reuters) - Bankrupt Bethlehem Steel Corp. (OTC BB:BHMSQ.OB - News) on Wednesday said it reached an agreement to be acquired by International Steel Group (ISG), creating the largest U.S. steel company. Terms of the deal were not disclosed, but will be presented to Bethlehem's board on Saturday, the company said. ISG, which is backed by New York buyout fund W.L. Ross & Co., on Jan. 6 had offered $1.5 billion...

Reuters UPDATE - AK Steel named lead bidder for National Steel Thursday February 6, 5:52 pm ET By Nichola Groom (New throughout, adds analyst comment, U.S. Steel comment, USWA statement, byline, changes dateline previous MISHAWAKA, Ind.) NEW YORK, Feb 6 (Reuters) - A U.S. bankruptcy court named AK Steel Holding Corp. lead bidder in the race to buy National Steel Corp., beating out United States Steel Corp., though a March deadline to strike a deal with the steelworkers' union could still sidetrack the $925 million deal. Thursday's ruling, which grants AK Steel (NYSE:AKS - News) "stalking horse" or priority status,...