SERVING MINNEAPOLIS / ST. PAUL / MINNESOTA
Donate Now Sustaining Member

MinnPost thanks these major sponsors:




Sponsor of
Second Opinion



Our major advertisers


Our in-kind partners


MinnPost thanks these generous donors:

INDIVIDUALS AND FOUNDATI0NS
Blandin Foundation
Otto Bremer Foundation
Bush Foundation
Sage & John Cowles
David & Vicki Cox
Toby & Mae Dayton
Jack & Claire Dempsey
Ethics and Excellence in Journalism Foundation
Sam & Stacey Heins
John S. and James L. Knight Foundation
Joel & Laurie Kramer
Lee Lynch & Terry Saario
Martin & Brown Foundation
The McKnight Foundation
The Minneapolis Foundation
The Saint Paul Foundation
Rebecca & Mark Shavlik

(See all donors here.)

David Brauer

  • Switch to Small Text Size
  • Switch to Medium Text Size
  • Switch to Large Text Size
Email Print Submit a Comment

    Not so fast: Strib Teamsters hang together, deny owners $12 million in concessions

    On Thursday, I wrote about the Star Tribune's three Teamsters locals going their separate ways on $12 million in balance sheet-saving concessions. That meant the cash-strapped Strib would receive $9 million in concessions from drivers and mailers — three-quarters of a loaf — even as the pressmen again voted no this week. In July, a similiar "no" vote canceled all three deals.

    Now, union leaders have decided to hang together after all, the Teamsters for a Democratic Union website reports.

    That means that the Strib — which wrested $2.5 million from its newsroom this summer — is back to zero on the far larger $12 million it seeks as a scheduled Sept. 30 interest payment looms.

     

     

    In June, the Strib declined to pay interest to secondary lenders, putting the paper in default of its credit agreements. At the time, management explained it was hoarding cash anticipating a financial restructuring that included cost reductions.

    Almost certainly, the big-money concessions from blue-collar unions are that plan's linchpin.

    Union officials delivered the bad news to Star Tribune general counsel Randy Lebedoff yesterday, the unbylined TDU story states.

    According to a drivers-union business agent's memo quoted in the piece, "At this time, [Lebedoff] is not sure what the management at the Star Tribune will do in the future. She said she hopes to have some answers in the next few days."

    Like what you just read? Support high-quality journalism in Minnesota by becoming a member of MinnPost.

    1 Comment: Hide/Show Comment

    E-mail address

    Password

     

    Forgot Password? | Register to Comment

    MinnPost does not permit the use of foul language, personal attacks or the use of language that may be libelous or interpreted as inciting hate or sexual harassment. User comments are reviewed by moderators to ensure that comments meet these standards and adhere to MinnPost's terms of use and privacy policy.

    We intend for this area to be used by our readers as a place for civil, thought-provoking and high-quality public discussion. In order to achieve this, MinnPost requires that all commenters register and post comments with their actual names and place of residence. Register here to comment.


    David Brauer
    Illustration by Hugh Bennewitz


    minnpost.com/davidbrauer



    David Brauer authors Braublog and is MinnPost's local media reporter. He's covered media and politics as a writer and editor since 1983 for City Pages, the Southwest/Downtown Journal, KFAN and KSTP-AM, Mpls.St.Paul, Minnesota Monthly, Law & Politics, the Business Journal, KARE11 and national outlets. Follow him on Twitter. Email: dbrauer [at] minnpost [dot] com. 

    Recent Posts by David Brauer