Sunday, February 22, 2009

We report the news and adapt to the times

Tom Skoch is editor of The Morning Journal writes:

(O)n Saturday morning, I learned that The Morning Journal's parent firm, Journal Register Company, had just filed a reorganization plan under the federal bankruptcy code. You can read the news story about it on today's business page.

That was welcome news to me. And it should not cause concern for our readers, employees, advertisers or others. In fact, JRC itself was born out of a bankruptcy a couple of decades ago. The Chapter 11 filing, approved by the banks involved, will enable JRC to be relieved of a large portion of its debt to the banks and be transformed into a new, leaner and stronger company better able to deal with the current tough economic times nationwide than many other news organizations.

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