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The Boston Globe Is Losing $85 Million This Year; The Unions Are Giving Back $20 Million, But That Still Means A $65 Million Loss -- Surely We’re Missing Something Somewhere?
Philip M. Stone May 7, 2009
Everyone understands the New York Times Company has money problems – it’s done a sale-leaseback on its new headquarters building, it has issued bonds paying 14% annual interest, its employees are taking 5% pay cuts and major debt payments are looming, so just how can it continue taking on $1 million a week losses at ‘The Boston Globe’?
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