Boston Globe unions did not ratify the wage concessions demanded by parent New York Times. This failure, supposedly, will result in an immediate 23% pay cut across the board:
"People understand that things are going horrendously, the paper is losing money and there have to be concessions, but people don’t feel that the company tried very hard to make the concessions more palatable or equitable," said Scott Allen, a Globe reporter. "I’m voting no. Even people who you would think can’t afford to put their mortgages at risk are voting no."
Now, who amongst y'all ever thought Globies rational or cognizant of their own self-interest?
My hand certainly ain't up.
And man, which banks were Moronic enough to write mortgages for newspaper employees?
I sure hope they were justly charged *subprime* rates!
See also - Comeuppance Imminent?.