Extra, Extra Read All About It!

Tribune Company, America’s largest employee-owned media company, operating businesses in publishing, interactive and broadcasting, including ten daily newspapers and commuter tabloids, 23 television stations, WGN America, WGN-AM and the Chicago Cubs baseball team announced a bombshell full of FAIL today.

And 'employee-owned' means employees who received stock as bonuses, incentives and other forms of compensation are feeling incredible pain right now, which is tragic. Shares of Tribune Co. fell by 94% today from $17.50 to $1.07.

-----------------------------------------------------------------

Most likely, the auto maker bailout will be announced tomorrow. So, as a taxpayer, my distressed debt arbitrage portfolio is getting stronger (Fannie Mae, Freddie Mac, AIG, GM, Ford, Chrysler). If we can get a technology company, an energy company and maybe a commodity company to need a bailout, average Joe's portfolio will be nicely rounded out. Good times.

-----------------------------------------------------------------

Gold backwardation? Say it with me. Gold back-ward-a-tion.