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Oakland Tribune Owner MediaNews Group Ranked "Risky Debtor"

Is the Oakland Tribune not far behind the SF Chronicle in lifespan ?  If this report by Editor and Publisher is to be believed:  Moody's Investors Service, the big credit rating agency, on Tuesday launched a new database and quarterly report of companies in the most serious danger of default -- and four newspaper companies are among those on the "Bottom Rung." Each of the four -- Freedom Communications, GateHouse Media Inc. MediaNews Group Inc. and Morris Publishing Group Inc. -- has a "probability of default" ratings that indicate they are at "substantial risk" of missing repayments if a so-called default event is triggered. On average there's about a 25% chance a company given those ratings will default within a year, going into bankruptcy or some other remedy. That means there's a one-quarter chance the Oakland Tribune could stop printing in the near future.  

Johannes Mehserle's attorney enters not guilty plea for client - Inside Bay Area

More at Oakland Tribune : “The attorney for Johannes Mehserle, the former BART police officer charged with murder stemming from a shooting on New Year's Day, entered a not guilty plea for his client in an Oakland courtroom Thursday. Attorney Christopher Miller entered the plea in front of a packed courtroom with extra security. In a red Santa Rita Jail jumpsuit, Mehserle, who could barely be seen behind a protective clear encasing, waived his right to a quick preliminary hearing. Miller then asked Alameda County Superior Court Judge Robert McGuiness for a bail hearing, which was set for Jan. 26 in Oakland. Mehserle was arrested on a no-bail warrant, and no bail has been set. The full courtroom included Mehserle's friends and family and those of Oscar Grant III, the man Mehserle is accused of killing Jan. 1 on the Fruitvale BART platform. Sheriff's deputies carefully let different groups into the courtroom separately to avoid any problems with heightened tensions.”

Geoffrey's, a place to be and be seen, is closing - Inside Bay Area

More at Inside Bay Area : “Geoffrey's Inner Circle, the popular black-owned and -operated nightclub in downtown Oakland, is closing. Owner Geoffrey Pete said little Tuesday other than he is transferring the lease to a church and a nonprofit. Pete has complained in the past, however, that police were unfairly targeting his night spot as well as other black-owned clubs downtown, many of which have closed in the past few years. Some of the clubs closed voluntarily or were pressured to do so by the city after crowds leaving the establishments were involved in fights, shootings and sideshows that resulted in injuries and death. Police said the incidents ate up overtaxed police resources as officers from beats around the city were called in to restore order and make arrests. Geoffrey's drew a mature, well-heeled crowd and had relatively few problems compared with other now-defunct nightclubs, such as Mingles and Sweet Jimmie's, but Oakland police Sgt. Kyle Thomas said that change

Port of Oakland facing $12 million shortfall - Inside Bay Area

More at Inside Bay Area : “The resolutions are in, and it's shaping up as a lean, mean new year for the Port of Oakland, which also operates Oakland International Airport. Despite layoffs and other cost-cutting measures this year, the port's number crunchers say the predicted gross revenues of $298.7 million this fiscal year will fall $12.1 million short unless steps are taken to reduce costs or increase operating revenues before then. Given the global economy, the dire state of the airline industry, and the declining number of shipments coming in and going out of the port's marine terminals, the former seems a more likely solution, said Marilyn Sandifur, the port's public information officer.”

Oakland Tribune Owner MediaNews Group In Trouble - San Francisco Business Times:

More at San Francisco Business Times: : “Moody's Investors Services on Thursday rated MediaNews Group Inc. -- owner of 29 newspapers in Northern California -- as being in “substantial risk” of default on its debt. Denver-based MediaNews owns the Oakland Tribune, the Contra Costa Times, the Argus in Fremont, and the San Jose Mercury News, among other local papers. The ratings service downgraded its “corporate family rating” of the privately held media company to Caa3 from B3 on $962 million in debt. It also lowered its “probability of default” rating to Caa3 from Caa1.” -- And the Trib's plan to charge money to online readers for content access is not going to stop this slide.