Baseball91's Weblog

February 2, 2009

In the Shadows


Fairness.  You expected it in the courts.  With judges.  I expected it with the daily newspapers.

Today it as reported on the Workday Minnesota website that last September when the Twin Cities labor community rallied outside a Wayzata’s office for Wayzata Investment Partners, the Minneapolis Star Tribune did not cover that story.  The rally concerned the attempt of Wayzata Investment Partners, the private equity investment firm, to impose dramatic concessions in workers’ wages and benefits on Cascade Pacific Pulp, a longtime union paper mill in Halsey, Oregon. The rally was in the wake of the Republican National Convention and was an attempt to get visiting protesters in town to support steelworkers from Oregon.  It was not a local story but the “anarchist” website, self-described, had directed their supporters to stick around for an extra day or two to attend the rally.


David Brauer of MinnPost has since reported in the last month that Wayzata Investment Partners was the largest creditor of Avista Capital Partners as revealed in documents filed in the bankruptcy procedure of the Minneapolis Star Tribune.  Avista Capital Partners had purchased the Star Tribune in December 2006. 


It might be fair to conclude that the Minneapolis Star Tribune will not be fairly covering the story of their own bankruptcy. 

For anyone cheering for the paper to survive, this news does call the question how Avista can declare one business bankrupt yet continue to operate businesses that operate oil rigs and manufacture wound care products.  In the world of investments, it no longer was the doctrine of survival of the fittest and the hunger that goes with the quest, but simply one of money for money’s sake, when the end justifies the means.  


Most of the news today was about the ground hog seeing its shadow, without mention what was lurking in the shadows. 


Fairness.  I expected it with the daily newspapers.  


1 Comment »

  1. FROM THE WEBSITE, Reclaim The Media during the week of September 2, 2008:

    Strib Forgets About Free Speech

    “In a bizarre editorial on Tuesday, the Minneapolis St. Paul Star Tribune owned by out-of-towners from Avista Capital Partner, a New York City private equity firm specializing in energy, healthcare and media investments, hailed the police crackdown as “appropriate,” blaming unrest on outsiders from beyond the Twin Cities.”

    “Many of those arrested in St. Paul weren’t carrying IDs or wouldn’t give their names. Those who were identified came from Lexington, Ky.; Brooklyn, N.Y.; Portland, Ore., and dozens of other U.S. cities,” they wrote. “These weren’t the sons and daughters of Highland Park and south Minneapolis.”


    Comment by paperlessworld — February 6, 2009 @ 2:29 AM | Reply

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