Lean Dean the Second

But it won't happen at MediaNews, because it will be the next chain to be Knight-Riddered into the history books.

 

No it won't. This couldn't be further from the reality.
Knight Ridder had assests. Everything MediaNews holds is leveraged.

 

Anybody know if the current credit crunch on Wall Street is causing lenders to put a squeeze on Singleton? I know we're talking consumer credit and home loans, but I figure a lot of this stuff in interrelated.

 

MediaNews' credit rating was downgraded a couple weeks back. It's just above junk status.
And, that's stated minus the hyperbole.

 

Yes their credit rating is in the dumper.

http://www.minnpost.com/davidbrauer/2008/03/07/1101/pipress_parents_credit_crunch_worsens

http://www.bizjournals.com/denver/stories/2008/02/25/daily62.html

 

At first. I snickered at Lean Dean's credit falling like an anvil in a septic tank.

But the workers are the ones who will suffer, not that slimeball.

 

From AngryJournalist.com:

Angry Journalist #2319:

I’m angry because freelancers are on my ass to get them their checks and I can’t even tell them they’ll probably never get them. Hell, my paycheck just bounced. We’re all screwed, people. They may be out $50 but there goes my house and car.

 

That's absolutely depressing. How in the hell does Singleton live with himself?

 

How long before -- seriously -- the next workplace shooting we cover happens at one of these papers? Not necessarily a Singleton paper, but any of the ones being gutted. I get the feeling that, with most newspaper folks' general level of education, etc., we feel we're sort of immune to something like this. But people are being pushed to the breaking point, and desperation is a powerful motivator. And revenge starts to look like a viable option; I mean, what the fuck, your career is shit, what else do you have to lose?

Things are bad, but I think they're going to get much worse before they get better. If they ever do get better. It's a sad, sad time.

 

Are checks really not coming?

The question has been asked before as far as "when will this turn into a workplace shooting?" And every day, it becomes more likely.

Of course, I'm not sure a newspaper employee can afford to buy a gun.

 

If the first page of this thread is to be taken into account, buckweaver may be able to tell us at the end of the week.