JRC set to emerge from bankruptcy on July 7

Although there are some objections to the bankruptcy plan.

http://www.google.com/hostednews/ap/article/ALeqM5jgyA2Q7ANe_66zS0bxp32VfKoi6AD991V2N00

I am shocked, shocked that JRC wants to break union contracts

On the other hand, going bankrupt in order to do it might be a little extreme.

http://online.wsj.com/article/BT-CO-20090513-717256.html

The Wall Street Journal article says that JRC is asking a bankruptcy judge to void some union contracts covering about 220 workers.

And there goes JRC

Journal Register Corp. has filed for bankruptcy.

http://www.google.com/hostednews/ap/article/ALeqM5iuX8HrEMBhwkQH2BzYHwkKN7mVTgD96GAE6O1

What will emerge from the wreckage is hard to say. The company owns some 20 dailies and more than a 100 weeklies, so no doubt there's something of value buried in there.

Given that JRC is, arguably, the absolute worst of the newspaper chains that emerged from the chain era, I can't say I am sorry to see it go. The AP story mentions that the company's stock was recently trading at less than a penny, down from more than $20 a few years ago.

As the entire purpose of the chain was to suck as much profit out of local communities while returning the bare minimum in journalistic service, expect there to be no tears shed among journalists over the demise of the operation. Yes, I know that this is a "reorganization" bankruptcy, but the chain will not emerge from this reorganization intact or with the same management.

A former Gannett employee runs a blog keeping tabs on that chain

Here's the link: http://gannettblog.blogspot.com/

Gannett has a bad reputation among the rank-and-file even among media chains. It's not rock bottom, however, that honor undoubtedly belongs to JRC.