When Sam took over, huge signs appeared at WPIX saying "You Own This Place Now". But only the non-union Tribune employees were actually included in the new Employee Stock Ownership Plan(ESOP)that now owns the privately held Tribune Company. Left out were the 70% of his new employees represented by AFTRA,DGA,IATSE,IBEW,and the Newspaper Guild.
It should also have be a clue when we discovered that the ESOP is actually a tax dodge and the employee owners of Tribune now get the tax liability, but no seat on the Tribune board of directors.
Well, here come the layoffs at the newspapers. I'm guessing that consolidation, outsourcing, and layoffs at the TV stations (I work at WPIX) are next. Oh well,time to start practicing: "Would you like fries with that?"
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