Of course. I suppose the correct move from here on out is to put Zell in charge since he is way more knowledgeable about the newspaper business than, say, me.
Mr. Zell financed much of his deal’s $13 billion
of debt by borrowing against part of the future of his employees’
pension plan and taking a huge tax advantage. Tribune employees ended
up with equity, and now they will probably be left with very little.
(The good news: any pension money put aside before the deal remains for