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February 23rd, 2009 (Modified on March 6th, 2009)

“Most Dangerous Bailout of All” Avoided

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On February 3 we wrote a post that reported on the possible bailout of two Philadelphia newspapers using state funds. We questioned that if the bailout was approved, could it become “the most dangerous bailout of all?” Newspapers — which exist as a fair and honest critic of the government — could quickly turn into a mouthpiece for the government.

That dilemma was avoided yesterday when the company which owns the papers filed for Chapter 11:

The financial burden from an advertising downturn, rising costs for newsprint, and the migration of readers to the Internet caused Philadelphia Newspapers to fall out of compliance with its loan agreements last year.

According to the Inquirer, the bankruptcy filing will not “interrupt” daily operations.

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One Response to ““Most Dangerous Bailout of All” Avoided”

  1. Kurt/Diane Says: February 23rd, 2009 at 4:54 pm

    “Weather You Think You Can…Or Weather You Think You Can’t
    You Are Right”….Henry Ford

    Hi Everyone
    Reading these blogs is heart wrenching. I pray all find what you are looking for.
    It’s time for us to take control of our own Future…
    Where we are is a Direct result of our own thinking…

    Wouldn’t it be fair to say that when the U.S. DEPT of Labor came out and said that by the year 2010 = next year…the LARGEST employer would by SELF…
    We ALL should Plan accordingly…
    Your future is in YOUR hands not your employers…
    unless YOU give them YOUR power.
    Take some time read some history on the United States. The U.S. was built by people who believed in self reliance, not on their employer to determine their worth..
    I understand the layoff cycle..laid off 2 times in 3 years from Corp America.

    There are allot of ways to make money,,Good honest money. Find the one that fits you, due your due diligence and go for it.
    Brake the cycle,,take a stand for your self and those you love.

    Despite the economy, our Company sale’s are up 40%

    Our purpose is to express our Desire and Ability to Assist others in realizing There True Potential…

    By Developing a Strong Foundation, Cultivating Leadership in ourselves and others…

    And Creating an Environment where our associates Can have Success…

    Live a Life of Freedom – Abundance and Wealth…

    Have a prosperous day…You desirve it!!

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HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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