Devin Nunes sues McClatchy

[mack7.62]

Ha Ha (Nelson Munz laugh)

Of course the main reason is they want to dump their pension plan.

Can Devin Nunes sue California publisher in Virginia? Judge wants to know more from McClatchy

https://www.sacbee.com/news/california.html

Miami Herald, KC Star Publisher McClatchy Files for Bankruptcy

https://www.theepochtimes.com/miami-herald-kc-star-publisher-mcclatchy-files-for-bankruptcy_3237091.html

“While this is obviously a sad milestone after 163 years of family control, McClatchy remains a strong operating company and committed to essential local news and information,” said Kevin McClatchy, chairman of the company, in a statement. “While we tried hard to avoid this step, there’s no question that the scale of our 75-year-old pension plan—with 10 pensioners for every single active employee—is a reflection of another economic era.”

[26 Inf]

I think they should be on the hook for the pension plan. How much depends on what type of pension plan they had and how long each person has been employed under the plan. In offering the plan, as an inducement to employment, they undertook responsibility to sufficiently fund the plan.

They should have known well before this time that they were approaching the 10 pensioners for every single active employee point and addressed the problem then - by buying out folks, offering new hires another option, etc.