Strib Skips Debt Payments

by Alex Stenback on July 2, 2008

The Star-Tribune, citing sagging revenues from print advertising run-off, has declined to make payments on some junior debt – the business equivalent of second mortgage.  Chief executive Chris Harte had this to say:

"If we can restructure this debt, we still have a very viable [business],"

No kidding Chris!  Many homeowners feel exactly the same way, just replace "business" with household budget.

Noticeably absent is any moralistic intonation about obligations to repay debts as agreed – that attidude is apparently reserved for private citizens.  For businesses, periodic delinquency is just business as usual.

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