The Chicago Sun-Times is in bankruptcy. There is one offer on the table. It looks like the unions will kill it.
A hometown investor has offered the unions at the Chicago Sun-Times a take-it-or-leave-it proposal to buy the company in bankruptcy court, and the unions just might leave it — snuffing out what could be the best hope for survival of the city's oldest continuously published daily.The deal is, the unions need to accept a permanent 15 percent pay-cut. (It is currently temporary.) Else Jim Tyree will walk away.
Now there's plenty of blame to go around. Rupert Murdoch owned the paper for a while. Top writers - like Mike Royko - left. Other owners have "siphoned" money away.
But the issue today is, "Do the unions accept a 15 percent pay cut, or a 100 percent pay cut?" Which would you choose?
So, it seems that the unions are going to kill the Chicago newspaper that traditionally supported unions.