Take this for what it’s worth, and it might not be worth anymore than a negotiation tactic, but The Newark Star-Ledger‘s publisher, George Arwady, has sent out this cryptic (and rather ominous) memo to staffers:
From: ARWADY, GEORGE
Sent: Tuesday, September 16, 2008 1:01 PM
To: ~ MAINTENANCE
Subject: Update from Arwady
As I have previously told you, there are three conditions that must be met in order for The Star-Ledger to remain in business under its current ownership.
Although we are making progress toward meeting two of our three conditions (the Mailers have a ratification vote scheduled for September 22), we still are far from an agreement with the Drivers’ union.
Accordingly, since it is doubtful that the Drivers will ratify an agreement by October 8, 2008, we will be sending formal notices to all employees this week, as required by both federal and New Jersey law, advising you that the Company will be sold, or, failing that, that it will close operations on January 5, 2009.
It is most unfortunate that we have to send out this notice, but the Drivers have left us with no choice.
George Arwady, Publisher
(This comes via Romenesko.)