Wednesday, December 10, 2008

Tribune Employees Won't Face ESOP Losses... Maybe

From LAbiz:

Well, at least Tribune Co. employees won't be losing anything from the company's employee ownership stock plan (we think). The initial contribution was expected to be made in the first quarter, so balances are still at zero. Other retirement benefits appear to be largely unaffected by the Chapter 11 filing, though it's still not known how much is left in the company's pension plans. As of the end of 2007, there were surplus assets of more than $500 million, but obviously a bunch of that was lost in the last year. [Click for MORE]

See also the WSJ.

> CNBC interview with Sam Zell about bankruptcy, ESOP and more
> See the holiday Zell-ebration
> Contact info:
  • Tribune Benefits Service Center, 800-872-2222
  • L.A. Times Payroll, 800-435-7186
  • Tribune Bankruptcy Hotline, 888-287-7568
> Tribune Owes LA Times' 'Cereal Killer' $11 Million Sphere: Related Content

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