Why the Cubs & Wrigley are not a part of the Tribune bankruptcy

by FuturePants on Dec 9, 2008 1:08 PM CST Comment 11 comments

Excel Hearts Choi posted the article about the Tribune Bankruptcy, and this article describes it, and the author and I sort of had the same reaction: that it seemed unfair or off somehow.

Interesting paragraph:

Rubin told me that a parent corporation can file for bankruptcy without the subsidiary filing. The point of doing this is to make it easier to sell the Cubs without all the rules associated with the bankruptcy court, including timely filings of financial information. Another bankruptcy lawyer friend of mine told me that it would also allow the Cubs employees, and anyone associated with dealing with the Cubs, to better operate on a "business as usual" basis.

0 recs | Comment 11 comments

Story-email Email Printer Print

Comments

why couldn't this

be posted in the other thread?

I'm undefeated in fights. Have I been in any? No. Thats because people know my f'ing status. Don't mess with the elite. - Miles

by Dirk Diggler on Dec 9, 2008 1:11 PM CST reply actions 0 recs

thread nazi?

check.

mormons stole me and held me against my will with Oklahoma beer and 12+ hour work days.

by Jayslick on Dec 9, 2008 1:39 PM CST up reply actions 0 recs

Because the other thread is about to disappear

due to fifteen posts about FOTF being not shopped around

by JBImaknee on Dec 9, 2008 1:40 PM CST up reply actions 0 recs

Right

Which is why I linked back to Excel Hearts Choi’s article, too. I thought someone may be interested, or maybe it’s just because I’m a lawyer, dunno. At any rate, EHC isn’t mad at me, I promise.

My Music Blog

by FuturePants on Dec 9, 2008 2:35 PM CST up reply actions 0 recs

Yeah sorry

guess my annoyance should’ve been directed at the other redundant threads, not this one.

I'm undefeated in fights. Have I been in any? No. Thats because people know my f'ing status. Don't mess with the elite. - Miles

by Dirk Diggler on Dec 9, 2008 2:55 PM CST up reply actions 0 recs

Zell, the owner of the Tribune Company is now possibly in trouble with all the crap going down in Illinois. A US Attorney issued an official statement about what is going on. Talking Points Memo has a summary of the part relating to Zell:

In other words, the Tribune company wanted a deal that would save them millions. Harris, the governor’s aide, told them that if they removed the paper’s ed board, the governor would play ball. In response, Harris got the impression that Zell had received the message and would do what Blagojevich wanted. The governor was pleased.

by Excel Hearts Choi on Dec 9, 2008 1:16 PM CST reply actions 0 recs