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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: Oral Roberts who wrote (5997)	3/17/2006 10:44:44 AM
From: paret	Respond to of 71588

Not looking good for the "old" news media _____________________________________________________________ Tribune cut to sell at Deutsche Bank Marketwatch.com ^ \| March 17, 2006 \| Simon Kennedy LONDON (MarketWatch) -- Deutsche Bank cut media group Tribune Co. (TRB) to sell from hold, citing worse-than-expected newspaper revenue. "Newspaper ad trends are already fairly weak, which publishers showed with their February revenue results," said Deutsche Bank. The bank said it fears the trend could deteriorate in the second half of 2006, especially if real-estate classified advertising revenue falls as the housing market slows Moody's may downgrade New York Times ratings Marketwatch.com ^ \| March 17, 2006 \| Carolyn Pritchard SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Friday placed New York Times Co.'s (NYT) A2 senior unsecured long term debt, and P-1 commercial paper ratings on review for possible downgrade. The agency said the review is prompted by Moody's growing concerns about the media company's high financial leverage, deteriorating operating margins and weak free cash flow available for debt reduction, combined with concerns over intensifying cross media competition, including the Internet, and growing event risk in the newspaper sector. A multi-notch ratings transition will be considered in light of the company's financial and operating challenges, Moody's said.

To: Oral Roberts who wrote (5997)	3/17/2006 11:08:29 AM
From: paret	Read Replies (3) \| Respond to of 71588

Spiffy new jail too expensive to open PORTLAND, Ore., March 16, 2006 (UPI) -- A $59 million jail featuring art and flat screen TVs in Portland, Ore., has been sitting unused for more than a year as the city can't afford to open it. The Wapato Facility took two years to construct and can house 525 inmates at a cost of $20 million per year, which would please Multnomah County Sheriff Bernie Giusto to no end. But the county says it doesn't have that kind of money, and expects to be in the hole at least $32 million next year. The county spent more than $600,000 on art for the jail, including a sculpture out front by the circular driveway. There are 30-foot vaulted ceilings and private showers. "I love coming to an empty $59-million jail," Giusto told the Los Angeles Times. "I get tired of telling people how dumb we are." Further frustrating Giusto is a shortage of jail beds that has forced police around the city to systematically release inmates early to make room for new ones.