Tribune Company Thinking About Bankruptcy

Tribune Building
I don't even know what to say about this, but it appears the Tribune has hired counsel to look at a potential bankruptcy filing. This is far from good news, but unlike the auto industry at least the Tribune can operate under Chapter 11.

The bad news is the fact that even more folks will likely lose their jobs, maybe soon.

Oh, and the Cubs sale has indeed taken too long. The proceeds were supposed to go to payoff debt and a spring sale will probably come too late. (Photo is by me circa Nov. 2004, copyright FightingTheSuburbs).

Tribune Co. hires bankruptcy advisers