Speaking of Newspapers,

From the Revolving Door enews:

It’s getting ugly in Beantown: The Boston Globe needs to cut $10 million from its budget. Either the Boston Newspaper Guild will vote to allow concessions, or management will impose a 23 percent pay cut on the Guild’s 600-plus editorial, advertising and business office staffers. Daniel Totten, president of the union, sent a memo to his charges claiming that execs made “wretched” business decisions. He didn’t suggest they reject the new contract, however. An NYT Co. spokeswoman says shutting down the Globe remains a possibility…

More Unemployment; Furloughs for Some

This morning, I was at a meeting, which was attended by a staff  member of The Tennessean. All employees there have to take an unpaid week (called furlough). I think this is required each quarter, but it is still better than losing a  job:

Breaking News Alert
The New York Times
Friday, June 5, 2009 — 8:34 AM ET
—–

345,000 U.S. Jobs Lost in May; Unemployment Rate Jumps to 9.4%

The economy shed 345,000 jobs in May, a sharp reduction in
the pace of job losses, the government reported on Friday in
its monthly employment report.

The unemployment rate climbed to 9.4 percent, its highest
point in a quarter-century, and economists said the job
losses were likely to pile up through the rest of the year.
But the letup in the pace of losses fanned hopes that the
plummeting job market was showing sustained signs of
stabilizing.

Read More:
http://www.nytimes.com/?emc=na