Sometimes, that's all you can sell, if you have no liquifiable assets. I know my insurance company had to do this at one point to meet reserves. Several of our profitable enterprises (clients) were sold.
Because it's an asset, and you owe money. You sell it because it's what you CAN sell, and you pay off your debts with that so you don't wind up losing it AND everything else in the bankruptcy.
They've been trying to sell the Cubs for months now. The problems there had to do with whether the stadium goes with them or is treated as a separate entity (this has been a sticking point for a lot of potential buyers); and of course the fact that the economy has tanked and some of the usual suspects pulled out of negotiations.
For the Cubs fans, the latter was partially good news, since one of the potential buyers was Mark Cuban.
It's a shitty newspaper, with a conservative editorial board in an unbelievably liberal city. And a crazy real estate magnate who wanted to buy up every Chicago icon, too.
Ah, but the Trib doesn't serve Chicago, it serves "Chicagoland". Which includes the DuPage County Republicans. Who make most neocons look like moderates.
As far as the actual news goes, it was a pretty good paper (up until the Zell re-design at least). It's the editorial side that was frequently appalling.
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(no subject)
Date: 2008-12-09 02:56 pm (UTC)(no subject)
Date: 2008-12-09 03:35 pm (UTC)Presuming they could find a buyer.
(no subject)
Date: 2008-12-09 04:14 pm (UTC)(no subject)
Date: 2008-12-09 04:31 pm (UTC)For sale:
1 Baseball team.
Slightly cursed.
Best offer.
(no subject)
Date: 2008-12-09 04:44 pm (UTC)(no subject)
Date: 2008-12-09 10:19 pm (UTC)(no subject)
Date: 2008-12-09 10:36 pm (UTC)(no subject)
Date: 2008-12-10 12:34 am (UTC)(no subject)
Date: 2008-12-09 05:44 pm (UTC)For the Cubs fans, the latter was partially good news, since one of the potential buyers was Mark Cuban.
(no subject)
Date: 2008-12-09 04:13 pm (UTC)(no subject)
Date: 2008-12-09 05:38 pm (UTC)As far as the actual news goes, it was a pretty good paper (up until the Zell re-design at least). It's the editorial side that was frequently appalling.