Thanks to my old friend Betsy Befus Feigin, I’ve been forwarded this savage attack on Sam Zell on the WashingtonPost.com. I’m disseminating the information because I want my readers to have it. I want to think and read more about the Tribune situation before I publish anything myself. There is no question leveraging employee pensions to raise debt to buy a company is ethically quesitonable. Mgmt gave employees stock when Zell bought company, but the stock is way behind the debt and now with bankruptcy will be wiped out along with Zell’s stock. But the Tribune issues are nuanced and deserve and will get more scrutiny on YallaGuy.
Posted on December 9, 2008 by Aaron