Tribune petitions FCC for Ownership Waivers
Requests were filed this week to waive restrictions that would prevent it from owning newspapers and TV stations in the same city, pending FCC adoption of new ownership rules. Zell's Deal needs the waivers. Read The Chicago Tribune here and (a little more info) here.
Thursday, May 03, 2007
Subscribe to:
Post Comments (Atom)
Posts
1 comment:
This is the first example of how this ESOP is a farce. It is being reported that The ESOP is petitioning the FCC for crossownership waivers. The ESOP is a false ownership by us ,the employees. None of us employees who are said to be 60% shareholders of the company have asked the FCC to do anything. We will never vote the shares in the ESOP. Sam Zell owns the company and he appoints the Trustee that votes the shares how he is told to by Sam Zell, not the employees who's retirements are directly affected by the decisions the voting of shares causes, good or bad. Esop's were not designed to buy companys, yet investors use them to leverage their debts.
If Sam Zell is successful in turning around the company, we stand to benefit immensely, and on the flipside, we stand to lose retirement resources that may be expected from this stock ownership plan. Invest yourself outside of the company and don't count on this plan to provide a secure retirement.
Post a Comment