The New York Times Company continues to look for ways to save money in the struggling newspaper industry. On Monday, New York Times union workers agreed to voluntarily cut their pay by 5% for the rest of 2009. On the newspaper’s website, a report indicates that the final voting tally shows 377 of the 413 votes were in favor of the pay cut.
Why would the union workers agree to the pay cut? First of all, without a pay cut, the newspaper itself may have been shut down before the end of 2009. Secondly, the workers will get a reported ten …read more

Sunday could be the last day of the Boston Globe if The New York Times Company doesn’t get its wish. According to multiple reports, the Times Co. wants approximately $20 million in concessions from the Boston Newspaper Guild — the Boston Globe’s biggest union.
The two sides are expected to haggle all day Sunday. If by Sunday night there is no deal, the Times Co. has said they are willing to shut down the newspaper.
The Boston Globe is just the latest newspaper in the United States to come close to death. Many have already died and there are a number of …read more

Billionaire Warren Buffett recently said that the newspaper industry could face the reality of “nearly unending losses” during the annual shareholders meeting for Berkshire Hathaway. While his company owns a few newspapers, his comments paint the picture that he doesn’t see any type of short-term or even long-term turnaround.
The newspaper industry is facing a number of problems. First of all, the national economic woes has companies spending less on advertising, which means less money for newspaper advertising. Secondly, people around the country are opting to save money by canceling their newspaper subscriptions. Next, many other people have turned to the …read more

Remember when reading the Sunday paper was something to look forward to?
Perhaps, I have dated myself with that statement! Anyway, I remember several Sundays when my father would say, “Don’t touch the paper.” No one could read it before he had. He knew that if someone else read it, they wouldn’t put it back in the right order, etc.
He doesn’t have to tell me anymore since I can find much of the paper’s contents before the paper arrives. On top of that, I don’t have to subscribe to anything and I don’t have anything to recycle or throw away.
I am curious as to how many people actually read …read more

A story in the New York Times, which you can find here, gives me hope that McMansion mania is finally petering out. According to the Times, the demand for ultra-large homes in New Jersey — where such homes have long ruled the market — seems to be waning. The Times isn’t sure if this is a longterm or a shortterm thing. But it does give me hope.

The latest bit of creative genius that I’ve discovered comes by way of The New York Times, which details the story of a couple who, unable to sell a home that was nearing foreclosure, held a raffle to get the home off their hands. Yes, a raffle.

Election officials and voting-rights groups are worried that many of the millions of U.S. homeowners who lost their residences to foreclosure will also lose their chance to vote in the upcoming presidential election.

How’d you like to live in a house that sits atop an existing apartment building? If you want to live in New York City, you’ll soon have the chance.

Here’s a shocking statistic: Nearly a quarter of U.S. homeowners with first mortgages also have home equity loans. At the same time, the value of outstanding home equity loans in this country has grown from $1 billion in the 1980s to more than $1 trillion now.

Think you’re having trouble selling your home in today’s struggling real estate market? Try selling a house that isn’t finished.