The story behind Tribune's broken deal































































At the end of 2007, real estate tycoon Sam Zell took control of Tribune Co. in a deal that promised to re-energize the media conglomerate. But the company struggled under the huge debt burden the deal created, and less than a year later, it filed for bankruptcy.

One of Chicago's most iconic companies — parent to the Chicago Tribune — was propelled into a protracted and in many ways unprecedented odyssey through Chapter 11 reorganization.

On Dec. 31, after four years, Tribune Co. finally emerged from court protection under new ownership, but at a heavy cost. The company's value was diminished, its reputation was tarnished and its ability to respond to market opportunities during its long bankruptcy was constrained.

Tribune Co.'s bankruptcy saga began as an era of superheated Wall Street deal-making fueled by cheap money was coming to an end. The company's tale is emblematic of the American financial crisis itself, in which a seemingly insatiable appetite for speculative risk using exotic investment instruments helped trigger an economic collapse of historic proportions.

Tribune reporters Michael Oneal and Steve Mills, in a four-part series that begins today, tell the story of Tribune Co.'s journey into and through bankruptcy, throwing a spotlight on the key decisions and missed opportunities that marked a perilous time in the history of the company, the media industry and the economy.



Read the full story, "Part one: Zell's big gamble," as a digitalPLUS member.
To view videos and photos and for a look at the rest of the series visit, chicagotribune.com/brokendeal.





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Bulls hold on to beat Knicks 108-101

Bulls beat the Knicks 108-101 on Friday.









NEW YORK — Three players and a coach were not around to witness the end of the last Bulls-Knicks game at Madison Square Garden.


That coach was New York's Mike Woodson, who forecasted another battle royale.


"Chicago, the Celtics, Indiana … teams that play defense and get after it, there will be (intense) games," he said. "I expect (this) will be no different."








It turned out completely different, a walk in the park for the Bulls — for 44 minutes. But even after giving up 12 straight points late in the fourth quarter, Chicago left town with a solid 108-101 victory.


"When you build a cushion," coach Tom Thibodeau said, "you can withstand things not going your way. The most important thing is getting the win."


Marco Belinelli came through at the end, hitting 5 of 6 free throws and making a steal to lock up the victory. The Bulls improved to 3-0 against the Knicks, a mark that pleases native New Yorker Joakim Noah to no end.


"It feels great," he said. "Everybody's locked in when we play the Knicks. It's easy to get up for games like this — big stage, playing in the Garden."


Luol Deng scored 33 points on 13-for-18 shooting, besting his season high of 29 that came Dec. 21 in that wild, four-point Bulls victory in New York that featured nine technical fouls.


"Honestly it's not about the scoring," he said. "I just want to play well. I score for the team, but I don't go out trying to get big numbers. I never focus on one thing."


Carmelo Anthony scored 39 points, but most came after the game was decided. And he shot just 14-for-32.


"(Deng) guarded Carmelo about as well as you can," Thibodeau said.


There were no scraps or technical fouls Friday, just superb basketball from the visitors, who improved to 9-1 on the road against Eastern Conference foes.


The Bulls scored the game's first five points and cruised to a 57-36 halftime lead.


Noah (nine points, eight rebounds, four assists, four blocks) surprised observers by reprising his "finger guns" celebration after nailing a 15-foot jumper in the first quarter. Noah had ditched that after the elementary school shooting in Newtown, Conn.


"I just got too hyped," he said, implying he would not do it again.


The Bulls allowed New York to score 41 points in the fourth quarter — and nail 11 of 17 from deep in the second half.


"We opened up the 3-point line against a team that can shoot the 3," Thibodeau said. "We want to learn and improve. (But) I want to look at the game in totality."


Until the late flurry, the Bulls were totally dominant, building a 101-80 lead with 3 minutes, 47 seconds to play.


"I wish every game was here," Noah said. "It's the best, man."


tgreenstein@tribune.com


Twitter @TeddyGreenstein





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A sense of dread shrouds Nintendo’s Wii U






The latest Wii U sales numbers are out from Japan, the United States and the United Kingdom — and unease is deepening. In Japan, Famitsu Magazine reported Wii U weekly sales slipping to 70,000 units from 76,000 units during the important period ending in January 6. This is the week many Japanese teenagers spend their New Year’s money and sales of consoles tend to bounce. During the week, the portable 3DS sold 305,000 units, up sharply from the already impressive 266,000 units in the previous week. The seven-year-old Sony (SNE) PlayStation 3 managed to increase its sales to 64,000 units from 54,000 units. The equally ancient PSP climbed to 53,000 from 34,000. Even the star-crossed PS Vita managed to vault to 31,000 from 18,000.


[More from BGR: LG reportedly halts Nexus 4 production to make way for new Nexus device]






As Wii U sales are mired close to PlayStation 3 levels in Japan, it is getting hammered by the aging Microsoft (MSFT) Xbox 360 in America. NPD just reported that Xbox 360 moved 1.4 million units in December while Wii U limped through the holiday season with 460,000 units. This is below the 600,000 unit level that the earlier Wii console managed years ago against a much younger console competition in 2006. Back then, Wii launched head-to-head with Sony’s PlayStation 3 in the US market, and the Xbox 360 had been launched just one year earlier.


[More from BGR: BlackBerry Z10 shown off in leaked marketing materials]


In 2012, Wii U debuted against two rival home consoles that were more than half a decade old. The results are not pretty. Meanwhile in the U.K., the Wii U shifted 40,000 units during its launch weekend, but none of the titles cracked the top 10 of the GfK game software chart.


It is clear that the lack of compelling software is hurting Wii U right now. Nintendo (NTDOY) wanted to push it out well before the buzz around the next generations of Sony and Microsoft consoles started building. The problem with the rush is that Wii U is now facing several fallow months before big titles arrive. The January-April sales period could be spectacularly ugly and may cause real damage to Nintendo’s home console reputation if it leads to U.S. sales dipping below 300,000 a month and Japanese sales dipping below 30,000 a month. The danger here is that if consumers start suspecting that the Wii U is a lame duck, they may choose to wait for one of the big rival vendors to roll out some spectacular hardware next winter.


All in all, it’s hard to avoid the notion that the console gaming universe is shrinking. In the U.S., game software sales contracted by a disastrous 26% in December. PS Vita is in dire straits and may leave Nintendo’s 3DS as the only viable portable console in 2014. Wii U is wobbling badly, possibly leading to a 2014 scenario when only Sony and Microsoft are left standing in the home console battle. U.S. consumers are still wild about huge, violent console epics like Call of Duty, Assassin’s Creed and Halo. Those are titles that define PlayStation and Xbox. The casual gaming that defines Wii U is under siege by the smartphone/tablet gaming frenzy that shows no sign of abating.


This article was originally published on BGR.com


Gaming News Headlines – Yahoo! News





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“Gangster Squad” takes $650K in midnight showings, battle with “Zero Dark Thirty” awaits






NEW YORK (TheWrap.com) – Warner Bros.’ “Gangster Squad” grossed $ 650,000 in midnight showings Thursday night, a strong start to what should be a weekend-long fight for the box-office crown.


Ruben Fleischer’s tale of cops and organized crime in mid-20th century Los Angeles will duke it out with Kathryn Bigelow’s “Zero Dark Thirty,” the Oscar contender that expands to almost 3,000 screens this weekend.






Box office experts projected “Zero Dark Thirty” would eke out the win before the weekend began, though it remains a close race with both movies looking at openings of about $ 20 million.


“Gangster Squad,” which stars Josh Brolin, Ryan Gosling, Emma Stone and Sean Penn, has a breezy action feel, and runs under two hours. Despite a strong cast, reviewers have not responded warmly to the film, which charts at 43 percent on Metacritic and 34 percent on Rotten Tomatoes.


The Academy rewarded “Zero Dark Thirty” with five Oscar nominations on Thursday buffeting its pursuit of viewers despite its two hour and 37 minute length.


Warner Bros. did not immediately respond to TheWrap’s request for comment.


Movies News Headlines – Yahoo! News




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U.S. to review Boeing 787 design, safety

Two new incidents involving the Boeing 787 Dreamliner have been reported in Japan -- a crack in the cockpit and an oil leak. Norah O'Donnell reports.









The U.S. Federal Aviation Administration said Friday it will launch a high-priority and comprehensive review of Chicago-based Boeing's new 787's critical systems, following a rash of malfunctions this week, such as a battery fire and fuel leaks. However, federal transportation officials also supported Boeing, saying repeatedly that the plane is safe.

"We are confident about the safety of this aircraft," said Federal Aviation Administrator Michael Huerta, adding that a priority in the review will be the plane's electrical systems. He said he would not speculate on how long the review would take.


The review, an unusual move for the FAA that will not ground planes or halt production of new 787s, will examine the plane's design, manufacture and assembly, said U.S. Transportation Secretary Ray LaHood.








"Through it, we will look for the root causes of recent events and do everything we can to make sure these events don't happen again," he said. "I believe this plane is safe and I would have absolutely no reservation of boarding one of these planes and taking a flight."


Boeing shares were down 2.5 percent in midday trading to $75.15.


The announcement comes amid yet more reports Friday of problems with the highly anticipated "Dreamliner" jet, including a cracked cockpit window and another oil leak on a Japanese carrier. They add to a rash of other reported problems this week, most seriously a battery fire on a parked 787 in Boston, an incident under investigation by the National Transportation Safety Board.


The plane model is in use in Chicago for temporary United Airlines flights between Chicago O'Hare and Houston. Chicago-based United has five other 787s in service domestically. "We continue to have complete confidence in the 787 and in the ability of Boeing, with the support of the FAA, to resolve these early operational issues," a United spokeswoman said. "We will support Boeing and the FAA throughout their review."


Next week, LOT Polish Airlines plans to begin operating the region's first regular flight on a 787 between O'Hare and Warsaw, Poland. That inaugural flight is still planned for Wednesday, a spokeswoman said. All told, Boeing has delivered 50 Dreamliners to customers around the world, many to Japanese carriers.


Aviation experts have said the planes are safe and that glitches are common on new models of planes, especially ones as revolutionary as the 787, which uses mostly composite materials instead of metals to create an aircraft that's more lighter, more fuel-efficient and more comfortable for passengers. However, other observers have said the concentration of problems in a short period and the media attention they garner is damaging the reputation of Boeing, which was already under scrutiny for delivering the Dreamliner to customers more than three years late. The plane's list price is about $207 million.


The latest problems came Friday, when Japanese carrier All Nippon Airways said a domestic flight from Tokyo landed safely at Matsuyama airport in western Japan after a crack developed on the cockpit windscreen, and the plane's return to Tokyo was cancelled.


"Cracks appear a few times every year in other planes. We don't see this as a sign of a fundamental problem" with Boeing aircraft, a spokesman for the airline said. The same airline later on Friday said oil was found leaking from an engine of a 787 Dreamliner after the plane landed at Miyazaki airport in southern Japan. An airline spokeswoman said it later returned to Tokyo after some delay. No one was injured in either incident.


Boeing said Friday the 787 logged 50,000 hours of flight, with more than 150 flights occurring daily, and that its performance has been on par with the Boeing 777, which it calls "the industry's best-ever introduction" of a new airplane. "More than a year ago, the 787 completed the most robust and rigorous certification process in the history of the FAA," Boeing said in a statement. "We remain fully confident in the airplane's design and production system."


Ray Conner, president and chief executive officer of Boeing Commercial Airplanes, said Friday that the recent problems were not caused by Boeing's outsourcing of production or by ramping up production too quickly.


"We are fully committed to resolving any issue that affects the reliability of our airlines," he said.


gkarp@tribune.com

Reuters contributed
 
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Abducted Indiana boy found in Minnesota, 19 years later









Richard Wayne Landers Jr. was 5 years old when his paternal grandparents allegedly abducted him in northeastern Indiana in 1994 and the three seemingly vanished, frustrating detectives for nearly two decades.

But Landers, who is now 24, has been found alive and well in Minnesota, where he is married and uses a name that his grandparents gave him after they abducted him, the Indiana State Police said Thursday.

His grandparents, Richard E. and Ruth A. Landers, live about eight miles from him and have been using aliases since the abduction, said Sgt. Ron Galaviz, a spokesman for the Indiana State Police.

Federal prosecutors and county prosecutors in both Minnesota and Indiana are reviewing the case, Galaviz said.

"The fact of the matter is he's been found alive and well," the spokesman said. "There's a lot of policemen here in LaGrange County (Ind.) and the family here in LaGrange County who are awfully excited because 19 long years have come to an end."

Landers' stepfather, Richard Harter, said he and Landers' mother, Lisa Harter, learned Wednesday night that her son had been found.

"It's happened so fast, and we haven't talked to him yet," said Richard Harter, who lives in Indiana. "We are planning on it. We're going to as soon as we can."

Richard Harter declined further comment and referred additional questions to the family's attorney, who could not immediately be reached.

Landers' grandparents "were allegedly upset over pending court proceedings regarding the placement of their grandson" when they abducted him on July 29, 1994, and disappeared from their home near Wolcottville, Ind., according to a news release from the Indiana State Police.

The case was stalled for years until September 2012, when Landers' stepfather gave a state police detective the Social Security card that had been issued to Landers before he was abducted, Galaviz said.

Detectives eventually found a man living in Long Prairie, Minn., who was using Landers' Social Security number and date of birth, the spokesman said.

The man's driver's license photo looked similar to how detectives expected Landers would appear today, Galaviz said.

Police in Minnesota, as well as the FBI and the Social Security Administration, began looking into the case.

Authorities eventually found Landers' grandparents living under aliases in Browerville, Minn., Galaviz said.

He said the couple confirmed their true identities to investigators and verified that the man using Landers' Social Security number and date of birth was their grandson.

Soon after the abduction, authorities issued arrest warrants for Landers' grandparents charging them with interference with custody, a misdemeanor, according to the Indiana State Police. The charges were upgraded to felonies in 1999.

But in 2008, prosecutors decided to drop the charges because neither Landers nor his grandparents had been found.

Galaviz said he did not know whether the grandparents are in custody in Minnesota. The sheriff of the county where they live declined to comment and said his department would issue a news release Friday.

Galaviz also did not know how much knowledge, if any, Landers has of his past.

The spokesman described Landers as "well-adjusted."

"It just appears that (his grandparents) took him out there and they raised him as their own son," Galaviz said.

Landers will have to decide if he'd like to reunite with his mother, Galaviz said.

"Being a young adult now, that's going to be up to him," he said. "We can't force him and say, 'Now you're going back with your mom.' He's 24 years old."

rhaggerty@tribune.com

Twitter @RyanTHaggerty



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Baby Bones Found Scattered in Ancient Italian Village






SEATTLE — The death of an infant may not have been an occasion for mourning in ancient Italy, according to archaeologists who have found baby bones scattered on the floor of a workshop dating to the seventh century B.C.


The grisly finds consist of bone fragments uncovered over years of excavation at Poggio Civitate, a settlement about 15 miles (25 kilometers) from the city of Siena in what is now Tuscany. The settlement dates back to at least the late eighth century B.C. Archaeologists excavating the site have found evidence of a lavish residential structure as well as an open-air pavilion that stretches an amazing 170 feet (52 meters) long. Residents used this pavilion was as a workshop, manufacturing goods such as terracotta roof tiles.






In 1983, scientists uncovered a cache of bones on the workshop floor, consisting mostly of pig, goat and sheep remains. But among the bony debris was a more sobering find: two arm bones from an infant (or infants) who died right around birth.


In 2009, another baby bone surfaced at the workshop, this one a portion of the pelvis of a newborn. [See Images of the Infant Bones]


The bones “were either simply left on the floor of the workshop or ended up in an area with a concentration of discarded, butchered animals,” said Anthony Tuck, an archaeologist at the University of Massachusetts, Amherst, who presented an analysis of the bones Friday (Jan. 4) at the annual meeting of the Archaeological Institute of America.


Abandoned bones


The discovery of the discarded infant bones in an area used for work could suggest that the people who labored in the workshop had little social status, Tuck said. They may have been slaves or servants whose lost infants would garner little sympathy from the community at large.


However, a third find complicates the picture. In 1971, archaeologists found an arm bone from another newborn or near-term fetus pushed up against the wall of the lavish residence along with other bones and debris. It seems as if someone swept the debris up against the wall, not differentiating between baby bones and garbage, Tuck said. [8 Grisly Archaeological Discoveries]


There’s no way to know whose infant came to rest up against the wall of a wealthy person’s home, said Tuck, who plans to submit the findings to the journal Etruscan Studies. Perhaps the infant belonged to a desperate servant, or perhaps to a member of the family. If so, it may be that even high-status families didn’t consider babies worth mourning when they died in infancy.


The possibility can sound horrifying to modern ears, Tuck said.


“This kind of new data makes people a bit uncomfortable,” he told LiveScience. “People have a tendency to romanticize the past, especially in a place like Tuscany. When we have direct evidence for this kind of behavior, it can be a little tricky to present.”


Death in infancy


Nevertheless, Tuck said, there is reason to think that people have not always given infants the same community status as adults or older children. However, baby bones tend not to preserve well, which makes it difficult to know how ancient Italians in Tuscany treated their deceased infants.


Very few signs of infant burial appear in central Italian cemeteries from this time period, though, Tuck said. The handful of coffins containing baby bones that have been found are loaded with ornaments and jewelry, suggesting that only families of great wealth could have given a lost baby an adult-style funeral.


Even in modern times, societies have sometimes seen babies as belonging to a different category than adults, Tuck said. In areas of extreme poverty and stress that have high infant mortality, the death of a newborn may not trigger many outward displays of mourning, he said.


And many cultures have naming traditions that only recognize the baby’s identity significantly after birth. For example, in traditional Jewish culture, a baby boy’s name isn’t revealed outside the family until the bris, or the ritual of circumcision eight days after birth. According to superstition, naming the baby before then would attract the attention of the Angel of Death.


The Maasai people of Africa give their newborns temporary names until a ceremony as late as age 3, in which the child receives a new name and has his or her head shaved to symbolize a fresh start in life.


On the other hand, not all ancient cultures differentiate between the burials of babies and adults. Stone Age infant graves found in Austria in 2006 date back to 27,000 years ago and contain the same beads and pigments as adult gravesites.


The people who lived in Poggio Civitate more than 2,000 years ago have left little evidence of how they viewed infants, but Tuck and his colleagues expect more finds to emerge as the researchers continue to dig in the Tuscany hills. More evidence that high- and low-class babies were buried differently would suggest that the civilization had a rigid hierarchy, they said.


Images of more than 25,000 objects recovered from the site can be found at Open Context, an open-source research database developed by the Alexandra Archive Institute.


Follow Stephanie Pappas on Twitter @sipappas or LiveScience @livescience. We’re also on Facebook & Google+.


Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Linux/Open Source News Headlines – Yahoo! News





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ABC Chief Says Network Needs Hits, Will Abandon “All-Star” Format for “Dancing”






NEW YORK (TheWrap.com) – ABC entertainment president Paul Lee summed up his fall season by saying his network has “a lot to shout about, and we also have a lot to do.”


Lee’s network finished the fall in fourth place in the key 18-49 demographic and third place in total viewers. He lamented the fall’s lack of any “big breakout hits on broadcast on any of the networks and on ABC in particular.”






NBC, which passed ABC and its other rivals to become fall’s top-rated network in 18-49, might dispute that: It has touted the new drama “Revolution” as a hit.


Lee assessed his network’s fall at a Television Critics Association panel on Thursday. He said he was particularly disappointed not to see better numbers for reality standby “Dancing With the Stars,” which adapted an “all-star” format in the fall and brought back former contestants. He said that for its spring cycle, the show would go back to recruiting fresh talent, in hopes of drawing a younger audience.


Looking for a positive spin on the disappointing ratings for the show – which still averages 16 million total viewers per episode – he said the dancing this fall may have been too good.


“It turns out people like to have bad dancing as much as they do good dancing,” he said.


TV News Headlines – Yahoo! News




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F.D.A. Warns Two Producers on Egg Safety


Two large egg producers have received warning letters from the Food and Drug Administration, which said they violated a two-year-old rule aimed at preventing salmonella contamination.


During inspections conducted last summer, the F.D.A. found failures to prevent pests and wildlife from entering barns housing laying hens, poor record-keeping and other infractions that amounted to what it called “serious violations” of the rule.


The failures meant that eggs the companies produced “may have become contaminated with filth,” agency inspectors wrote in the letters, which were sent late last month and posted on the agency’s Web site on Thursday.


The letters offer a window into the way new regulations the agency proposed last week to enhance food safety might work. The proposed regulations, like the rule cited in the letters, aim to prevent food from being tainted rather than addressing contamination after it has occurred.


Both producers, Midwest Poultry Services of Mentone, Ind., and SKS Enterprises Inc., in Lodi, Calif., failed to comply with plans they had submitted to the agency aimed at preventing salmonella enteritidis, one of the most common types of salmonella bacteria, the F.D.A. said. Such plans were required by a rule set out two years ago.


Officials noted the presence of more than 30 wild birds and their nests in three of the five SKS facilities they inspected between May and August, despite the company’s plans for preventing wildlife from coming into contact with its chickens and eggs.


After the inspection, SKS told the agency it would use chicken wire to prevent wild birds from entering its barns, but the agency said it had not received any follow-up report on that correction.


The F.D.A. also said the company was missing pest control records and failed to conduct tests of its birds within time frames specified by the rule.


A woman who answered the phone at SKS’s offices at about 1 p.m. Pacific time said everyone had gone home for the day.


In Midwest Poultry’s facility in Fort Recovery, Ohio, the agency inspector found records of high levels of rodent activity — in one barn, 113 rodents were caught over a five-day period.


Midwest, which produces some 150 million dozen eggs a year, could not give inspectors any record of actions it had taken to correct the problem, and a subsequent response sent to the F.D.A. in August lacked any new strategy for dealing with rodents, the agency said.


The F.D.A. said Midwest failed to maintain records showing that it had refrigerated eggs within the required 36 hours of laying.


“They cited two violations, both of which were about documentation, and all of that documentation has been sent to them,” said Robert L. Krouse, chief executive of Midwest Poultry. “Now we’re waiting to see if they want any more.”


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Boeing to cut 40% of jobs, space at Texas plant













Boeing job cuts


Guest are reflected in a Dreamliner fuselage at the jet's debut July 8, 2007, at the Boeing plant in Everett, Wash.
(Robert Sorbo/Reuters / January 10, 2013)



























































Boeing Co. said it will cut a little more than 40 percent of jobs, or 160 positions, at its El Paso, Texas, plant in response to planned U.S. defense budget reductions.

The company said it will trim occupied square footage 50 percent at the plant by moving from three buildings to one. The plant in Texas manufactures electronics for a variety of Boeing products.

The cuts will be completed by the end of 2014, the company said.

Boeing announced a major restructuring of its defense division in November that would cut 30 percent of management jobs from 2010 levels, close facilities and consolidate several business units.

The company's shares closed at $77.09 on the New York Stock Exchange on Thursday.


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