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March 14, 2005
Now this is a "crisis"
The New York Times might think there's no problem with Social Security. But it turns out that the Times has a few unfunded liabilities of its own. Jim Glass has the story on Scrivener.net. The Times faces a $4 million shortfall in a benefits fund it runs for one of its unions -- and the way they intend to may the fund whole is to force union members to take a pay cut! Bad timing that the Times has to talk about this pay cut with its union during the same week it was disclosed that publisher Arthur Sulzberger Jr. gave himself a raise to $2.82 million in 2004 from $2.7 million 2003.Posted by Don Luskin at March 14, 2005 12:54 AM | Print
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