Wednesday, April 29, 2009

18. Bankrupt (unedited)

The mighty newspaper conglomarite is bankrupt!

Today it was announced we filed bankruptcy. What does that mean? I'm not sure. I guess we're owned by banks, although I thought we were owned by stockholders who had taken a bath on their investment. I guess we have some capital to work with, because the monthly income isn't enough to cover our asses. I am told it is business as usual on Wednesday, although who knows how long that will hold true.

A local media watchdog/critic wrote that it was surprising that it took this long to happen. I have no idea if it should have or not. All I know is that there's some bogus optimism about the fact we've acknowledged we're bankrupt. Call me cynical, but it was great news that we were being turned into a public stock barely two years ago, and how did that work out?

One day I'm going to show up to the office and find that the building is locked, and we're all unemployed. I'm sure of it.

As a co-worker pointed out, today we are publicly bankrupt. Too bad we've been morally bankrupt for years.

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