Tuesday, December 9, 2008

As with a sale, union retains certain rights in a bankruptcy filing

The Guild at the Baltimore Sun responded quickly to yesterday's news with a bulletin letting its members know what the Chapter 11 filing means to them.

Also, according to this Chicago Tribune report, "The company has 180 days to come up with a plan the bankruptcy court accepts. Failing that, the court will consider competing plans from creditors and others."

Time to draw up competing plans. At all Trib papers. From the WBNG bulletin:

... the Guild has been working with local investors who are interested in buying The Sun, and it will continue to do so. Our goal is to get owners who are committed [to] serving the community, the readers and the advertisers with quality products and services.
From the archives: ESOP plan participation not automatic for union-covered employees

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