Monday, December 28, 2009
Monday, December 21, 2009
Reporting by Sakthi Prasad in Bangalore; Editing by Jon Loades-Carter
December 21, 2009
As of Oct. 31, 2009, Heartland Publications reported about $134.3 million in total assets and about $166.2 million in total liabilities, court documents show.
Heartland Publications currently owns 50 community newspapers mainly in the Southern part of the United States.
The company said due to declining revenue, it had initiated cost saving measures and has budgeted a $1.3 million decrease in operating expenses for 2009.
For the trailing twelve months ended Oct. 31, 2009, the company recorded a revenue of about $55.2 million and it expects revenue for the 2009 calendar year to fall about 11.6 percent.
Most newspaper publishers including The New York Times Co, McClatchy Co and Gannett Co Inc, have been reporting declining ad revenue and circulation on the back of a weakening economy and growing competition from the Internet.
The case is In re: Heartland Publications LLC, U.S. Bankruptcy Court, District of Delaware, No. 09-14459."
Friday, December 18, 2009
Wednesday, December 16, 2009
One other employee works at the Tutuveni, which once employed four people.The council approved a 4 percent larger budget for last year than the current year, at $21.8 million.
The tribe plans to take in $18.5 million next year, according to the council's spokeswoman, Tina May.
She quoted one tribal council member who called the newspaper "ineffective."The council will set aside $471,113 for a new executive director position it has recently created -- in addition to a newly elected chairman and vice chairman.
Tribal employees will not receive raises to adjust salaries with inflation, May wrote.
Further, the council has called for a financial audit of every tribal village, and that the villages pay back taxes for overdue payroll taxes, if due.
Tuesday, December 15, 2009
Out from Chapter 11, the Star Tribune can now make decisions without a judge's supervision, as Minnesota's largest newspaper and the nation's 14th largest on weekdays tries to ride out an advertising drought and boost revenue in print and online.
The move was largely expected after a federal bankruptcy judge in New York approved the Star Tribune's reorganization plan Sept. 17. The newspaper had filed for bankruptcy protection eight months earlier, saddled by debt from Avista Capital Partners' 2007 purchase of the newspaper from the McClatchy Co.
New board Chairman Michael Sweeney said today was "the first day of a new beginning" as the 142-year-old newspaper got "a new lease on our future."