Buffett increases stake in 'Daily Star' parent company
Investor Warren Buffett's Berkshire Hathaway Inc. has nearly doubled its investment in Lee Enterprises, Inc., parent company of Tucson's Arizona Daily Star.
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#1 Aug 26, 2012
A Buffett takeover would be wise as Lee is a very good group but just suffering under poor management. I was a 39 year employee and a manager of one of their papers. My job was cut last year - 2 years before retirement - along with many other good, long term older folks. Most of us have not been able to find employment or health insurance because of our age. In the meantime, the CEO (Mary Junct) receives huge bonuses (half million last Spring and $655,000 a few weeks ago) as they continue to lay off to help pay her bill. Even Carl, her CFO, received a quarter million for being her friend.
There are over 7,000 employees yet, most of which are suffering greatly but hanging on. A change in management certainly would be welcome.
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