Monday, March 16, 2009

Seattle Times in dire trouble, says union economist

With the Seattle Post-Intelligencer announcing it will stop publishing a print edition and will become an online-only venture with a greatly reduced staff, Seattle’s other daily paper has big problems of its own.

Despite layoffs and other efforts to cut costs, The Seattle Times still finds itself in dire financial straits and needs to sell off operations or shut some down, according to a union economist who has reviewed the company’s finances going back to 2005.

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