JM, Fanciful Image, 12.8.08
Ye canna say we didn't warn ye.
And the best-laid schemes o' mice an' men gang aft agley.
As creditors queue up for court-approved payment, the filing means that The Tribune Co. will likely now be forced to sell off assets. Zell blames "a perfect storm" of everything but Zell.
It has long been the contention of street-hassle that the Times problems started with the feuds of petty and vindictive news editors in the late 1990s, who used the Times as a spitstone to sharpen grudges that the public didn't care about, rather than as a true journalistic battering ram.
And then that it ceaselessly fired buckshot into its own feet by becoming a transparent organization and leaking competitive information about its own operations to the blogosphere.
And finally, when hoardes of pesky bloggers showed up with their slingshots, the place panicked, surrendered, and finally immolated itself:
"It's like the Times spotted some people outside the moat with slingshots aimed at them, totally panicked, and decided not only to destroy their own castle stone by stone but also specialize in slingshot development."It's the first time in the paper's century-plus history that it has filed for bankruptcy protection. It is also a very bad day for the City of Los Angeles; the worst since the 1994 earthquake, in fact.