A compilation of brief news reports for Tuesday, December 9, 2008 .
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The United States media groupTribune Company has filed forbankruptcy protection on Monday as it struggled to sort out itsUS$13 billion debt. It is the second-largest newspaper publisher in theUnited States, responsible for theChicago Tribune and theLos Angeles Times, among others.
The firm has been hit hard by the industry-wide slump in newspaper advert revenues this year.Sam Zell, the billionaire who owns Tribune, took out large loans in order to buy the firm back in June of 2007.
TheUnited States Chapter 11 bankruptcy protection law states that a company can continue trading whilst it sorts out its finances.
Sources
TheQuebec general election is underway in theCanadian province ofQuebec. PremierJean Charest called the elections, saying he needed a majority to guide Quebec through a period of economic difficulties caused by the worldwide financial crisis.
Polls indicate that the Charest may obtain a majority, with support for hisQuebec Liberal Party increasing to 45%, while support for theParti Québécois remains at around 30%.
The polls will close at 01:00 GMT (20:00 local time), and the results will probably come in soon after that.
Sources
TheUnited States government is reportedly close to an agreement for aUS$15 billion bailout plan for the country's three largest auto firms.
According to a draft obtained by the Associated Press, the deal would give loans toDetroit's strugglingBig Three automobile manufacturers —Ford,General Motors, andChrysler — but under the condition that the auto industry restructures itself to survive. Another condition is that the incumbent US President,George W. Bush, would appoint an overseer to supervise the effort.
Analysts suggest that the agreement could be signed into law by the end of this week.
Sources
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| This page isarchived, and is no longer publicly editable. Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication. Got a correction? Add the template {{editprotected}} to thetalk page along with your corrections, and it will bebrought to the attention of theadministrators. Please note that due to ourarchival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections. Note that some listed sources or external links may no longer be available online due to age. The text of this article is licensed under the terms of theCreative Commons Attribution 2.5 License |
| This page isarchived, and is no longer publicly editable. Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication. Got a correction? Add the template {{editprotected}} to thetalk page along with your corrections, and it will bebrought to the attention of theadministrators. Please note that due to ourarchival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections. Note that some listed sources or external links may no longer be available online due to age. The text of this article is licensed under the terms of theCreative Commons Attribution 2.5 License |
