Teamsters Local 628, which represents the drivers of the Philadelphia Inquirer and Philadelphia Daily News, rejected by 191-4 vote Sunday the Philadelphia Media Network Inc.’s (PMN) final contract offer.
PMN is seeking to take over the company, which also includes the website Philly.Com, from Philadelphia Newspapers LLC, which filed for Chapter 11 bankruptcy protection on Feb. 21, 2009.
Philadelphia Newspapers is a subsidiary of Philadelphia Media Holdings LLC.
Local 628 is the only one of the company’s unions not to have a agreed with a contract with PMN, a group of 16 financial institutions
that bought the properties at auction in April for $139
million. Philadelphia Newspapers, however, maintains control until things are finalized.
The sticking point with the Teamsters is the pension plan.
So, is the sale sunk? Well, a deadline imposed by Bankruptcy Judge Stephen Raslavich was noon, today, and the drivers didn’t budge.
What is likley now is another auction, and if that should happen PMN will bid again according to PMN CEO Gregory Osberg, and if PMN should win he says contract terms would then be imposed on the drivers or the company would be closed until a contract was reached.
Go Teamsters! Sink the Ink.
I think that I’ll move to Delaware, and register to vote just to help get her elected. No Mo Rinos!!!