View Single Post
  #64  
Old 11-02-2014, 03:29 PM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 84,600
Blog Entries: 6
Default

NEW YORK TIMES

the piece is more about the NYT's problem in being profitable, but I thought this was good for this thread:
http://www.forbes.com/sites/francine...-york-times/3/

Quote:
Pension Obligations Are Forever And Not Shrinking

There is no good news about pension expense and ongoing retirement-related liabilities. The company estimates new mortality tables will likely drive $150 million more in pension and post-retirement liabilities and $10 million more in annual pension and post-retirement expense. Total retirement-related costs are expected to increase more than 100% in 2014 compared to 2013 to $37 million. Higher overall pension funding costs in future periods are definitely on the way, given that the plans are underfunded.

Asset sales, like the sale of the New England Media Group last year, give the company a one time cash boost, but the $70 million in sale proceeds cost the Times $27.5 million when it was forced to record its loss on the original investment and out-of pocket tax and pension costs. The company’s pension obligations to those employees continue.

__________________
It's STUMP

LinkedIn Profile
Reply With Quote
 
Page generated in 0.27959 seconds with 9 queries