Tribune seeks OK to continue management incentive plan | Marketing/media | Crain's Chicago Business

(Reuters) — Tribune Co. is seeking approval from a bankruptcy court to allow it to continue its management incentive plan, which seeks to pay around 640 management employees up to $42.5 million.

Tribune seeks OK to continue management incentive plan | Marketing/media | Crain's Chicago Business

THE DAILY MOTIVATOR - August 30, 2011

Power of your thoughts
++++++++++++++++++++++

The focus of your attention enlarges and expands whatever you focus upon. That can either hurt you greatly or help you immensely.

Your complaints, for example, give more power and presence to whatever you complain about. Your love, on the other hand, gives more substance to whatever you love.

Put the focus of your attention not on what you wish to avoid. Instead, constantly direct your attention toward where you would like your life to go.

Your unceasing thoughts have great power. So frame those thoughts in a positive way that will put their power to work for you.

The more you think you are, the more you are. What you do flows surely and steadily from what you think, so keep your thoughts focused on your dreams.

Give life to your best intentions by giving the power of your thoughts to them. Make your dreams real by keeping them constantly in your thoughts.

Ralph Marston

Agreement Reached to Settle ERISA Claims Related to Tribune Company ESOP

Tribune Company today announced a multi-party agreement to settle claims alleging violations of the Employee Retirement Income Security Act of 1974 (ERISA) in connection with Tribune’s Employee Stock Ownership Plan (ESOP). The claims were initially brought in 2008 in a lawsuit against the ESOP Trustee, GreatBanc Trust, by former Tribune employees. The agreement also resolves claims asserted by the United States Department of Labor (DOL) in connection with the ESOP and the DOL’s and GreatBanc’s objections to Tribune’s proposed plan of reorganization.

Under the terms of the agreement, there has been no finding of fault on the part of Tribune, nor any admission of wrongdoing or liability by the company or its officers, directors or employees.

The proposed agreement resolves the lawsuit as a non-opt-out class action settlement for a payment of $32 million for the benefit of ESOP participants and to cover expenses. The payment will be funded by insurers in the amount of $26.4 million, Tribune in the amount of $4.45 million, and GreatBanc Trust in the amount of $1 million.

The multi-party agreement must be approved by the United States Bankruptcy Court for the District of Delaware and by the United States District Court for the Northern District of Illinois.

“We are pleased to resolve the Department of Labor’s objections to the pending plans of reorganization for Tribune as part of GreatBanc’s settlement of the litigation,” said Don Liebentritt, Tribune chief restructuring officer. “This is a good result for all parties and ensures a smoother exit from bankruptcy once we have a confirmed plan.”

Rolling the Stones Tribute Band

In my travels through life I seek out live music from country to rock and roll, and usually only mention bands that are personal friends of mine. Last Saturday I experienced a band called Rolling the Stones at the Marquee 15 in Corona, and was I ever pleased we traveled the short thirty or so miles from San Dimas to listen to them.

Marquee 15 is a new club, located off the 15 Freeway between Welrick Road and Temescal Canyon Road, which opened just over two weeks ago. The seating arrangement is just excellent for viewing performers with tiered levels down to the stage, so every seat has an unblocked view.

While we anticipated the band coming on stage the drummer of the band, Vince Lupo mingled with the crowd of one hundred and fifty, thanking everyone for coming out.

As the band came on stage the air was on fire as many in the older crowd had been waiting for music of their era, which was a pleasant experienced as we could name each song that was about to be played. Try that today while playing the radio and I couldn’t name the groups let alone the name of the song being aired.

While one song ended the crowd would begin screaming out songs they wanted to hear, Little Red Rooster, Midnight Rambler, and the band didn’t disappoint as they appear to know every song The Rolling Stones have published.

The dance floor was never empty as it was difficult to sit still as Rolling the Stones kept the music flowing for their three hour set. I highly recommend you see this act for yourself because their music and act feels good.

The band consists of:

Erin Adams: Lead singer, Mick Jagger

Terry Myers: Guitar, Ron Wood

Vince Lupo: Drums, Charlie Watts

Richard May: Bass, Bill Wyman

Albert Margolis: Keyboard

Jackson Martin: Guitar, Keith Richards

Bob Campbell: Sax

Justine Ducloux: Singer

Julie Harris: Singer

Web Page: Rolling The Stones

Additional Photos: Flickr

Night Club: Marquee 15

Thursday Afternoon in the Blogosphere

The Blogging Pressman meets John E. Fenton Tuesday at the Dugout Club. Don't know Mr. Fenton, click on title or here to learn more about him.

• Print is the new vinyl - Poynter
• More Sun-Times layoffs - Robert Feder
• LA Times Loses Science Writer - Pandora Young
• Tim Rutten Interviews Rile LA Times - Richard Horgan
• Calista sells off 3 Alaska weekly newspapers - Associated Press
• Newspaper Thefts on the Rise, Couponers to Blame - ABC News
• Science writer Thomas Maugh retiring from L.A. Times - Kevin Roderick
• Media giants centralize operations in effort to cut costs - Chicago Tribune
• Newspaper behemoth Tribune Co. developing its own tablet - Digital Trends
• Santa Barbara newspaper committed unfair labor practices - Ronnie Pineda
  

In Memory of Bryan Padgett

Four years ago today the Los Angeles coroner paid our family a visit with terrible news regarding the death of my son Bryan. The family will gather this afternoon at Bryan’s grave to celebrate his short life.

Apology in Order

Tuesday night I directed my anger at Russ Newton as if he is responsible for the changes occurring in the workplace, regrettably I cannot reverse my actions, but the post was removed yesterday afternoon.

I would like to apologize to Russ for my error in judgment by using this forum to vent my frustrations upon him.

LA Times Baghdad Bureau Manager Joins Layoff List

By Celeste Fremon

Jaff, who is Iraqi, was the Times’ journalist who was integral to keeping other reporters safe during the worst days, months and years in Baghdad. He talked people out of dangerous situations, smoothed the way for them when things got dicey, told them where they could go, and where it was too perilous, headed off potential trouble. This often meant that, as an Iraqi citizen, he was the one at the bureau who took the greatest risks of all to make sure that the reporters in his charge could function in what was, for a long period, one of the deadliest of places on earth for journalists.

LA Times Baghdad Bureau Manager Joins Layoff List

Buyouts or Layoffs in Operations at the LA Times

Just heard twenty-eight full time employees working in Packaging and Distribution, and Paper Handling have been offered buyouts in Operations. Have no further information at this time.