Past winners of this dubious honor include: Wal-Mart, George W. Bush, and Goodyear Tire & Rubber. Jobs with Justice National is now accepting nominations for the 2009 “Scrooge of the Year” contest. We are collecting nominations this week and will start the election on December 7th.
Vote For Sam Zell
Sam Zell purchased and took the Tribune Company private in a heavily leveraged transaction for $8.2 billion that saddled the Tribune Co. with $13 billion in debt just as the bottom fell out of the advertising market.
Tribune Co. filed for Chapter 11 protection last December because it was struggling to manage the debt from the deal that made the Company a Sub-chapter S corporation owned by the employees to avoid taxes. The employee "owners" did not have a seat on the board of directors, or any say in the running of the company, now in bankruptcy and ESOP shares valued at $ 0, zero, nadda.
To add insult to injury, after massive nationwide layoffs, wage freezes, and benefit cuts at Tribune's newspapers and TV stations in 2009, Sam asked the bankruptcy court to approve $70 million dollars in executive bonuses. Sam's Merry Christmas to his team of bosses is a big Bah Humbug to the rest of his employees.
VOTE FOR SAM ZELL AS THE "JOBS FOR JUSTICE" 2009 "SCROOGE OF THE YEAR"