Money Matters - Simplified

Chicago Tribune

Cubs' Ron Santo dies at 70 in Arizona

Chicago -- Former Chicago Cubs infielder and longtime broadcaster Ron Santo died in Arizona of complications from bladder cancer at age 70, the Chicago Tribune reported.

Friends of the family said Santo lapsed into a coma Wednesday and died Thursday, the Tribune said.

Santo, a third baseman who was diagnosed with diabetes as a teenager, fought through debilitating injuries and, while working as an analyst for WGN-AM, the team's flagship radio station, had both of his legs amputated.

The popular broadcaster expected to return for the 2011 season.
"What else am I going to do?" Santo, a diabetic, said during this past season. "Doing the Cubs games is like therapy for me."

Suicide follows alleged ND sex assault

South Bend, Ind. -- A student apparently killed herself after an alleged sexual assault by a Notre Dame football player, an investigation by the Chicago Tribune reported.

Elizabeth Seeberg, 19, of Northbrook, Ill., a freshman at neighboring St. Mary's College with a history of depression, apparently overdosed on a prescription drug Sept. 10. The player, who was not named because he has not been charged with a crime, remains on the field, the newspaper said.

Notre Dame still refuses to acknowledge the case, the Tribune reported, and what the school did to investigate her allegation is unknown.

Campus authorities did not tell St. Joseph County, Ind., police investigating Seeberg's death about the alleged assault, officials said.

Boeing says Dreamliner schedule is intact

Chicago -- U.S. plane maker Boeing Co. denied long-delayed deliveries of the 787 Dreamliner would be set back another 10 months.

A report published in Aviation Week said Boeing was discussing a 10-month delay for the $150 million to $205.5 million planes that have already seen delivery dates pushed back nearly three years, the Chicago Tribune reported Saturday.

Boeing has orders for 847 Dreamliners, the first -- according to the most current official schedule -- to be delivered to All Nippon Airways in the first quarter of 2011.

On Friday, Boeing spokeswoman Loretta Gunter said the recent report of delays was based on old news.

Tribune Co. exec in hot water over e-mail

Chicago -- A top Tribune Co. executive has been suspended because of a company-wide e-mail memo with an offensive link, company officials said.

Tribune Co. chief innovation officer Lee Abrams has been placed on indefinite suspension without pay, the Chicago Tribune reported Wednesday.

Abrams apologized Tuesday to those offended by the e-mail. The Tribune said the message included a link to a video called "Sluts" that included female nudity. The e-mail drew a number of employee complaints, the newspaper said.

New plan in Tribune Co. bankruptcy

Wilmington, Del. -- The Tribune Company, publisher of the Chicago Tribune, will retool its bankruptcy reorganization plan after key supporters walked away, an attorney says.

Tribune Company attorney James Conlan said the company would amend its Chapter 11 reorganization plan in an effort to satisfy creditors, The Wall Street Journal said.

Conlan said Friday the Chicago-based company will file a new plan next week reflecting what it believes is a fair deal for everyone.

The Tribune Co. also owns the Los Angeles Times and other media properties including radio and television stations. It filed for bankruptcy reorganization 20 months ago, the report said.

Tribune Co. likely to go to creditors

Chicago -- A deal still in discussion in bankruptcy court would give lenders control of the Chicago Tribune, a source close the talks said.

Creditors including banks and investors hold $8.6 billion on senior debt, the Tribune reported Monday.

Chicago billionaire Sam Zell, who took the company private in 2007, holds a $90 million warrant that allows him to buy 40 percent of the company for $500 million. But that warrant would probably be canceled as part of the deal.

In addition, Zell loaned the company $250 million when it went private. That claim will be low on the list of priorities for the court to resolve, the newspaper said.

Chicago Tribune to cut newsroom 20 percent

Chicago -- The Chicago Tribune plans to cut an additional 20 percent of its newsroom staff to help reduce costs amid declining revenues, the newspaper said.

Crain's Chicago Business reported Monday that the impending layoffs were announced last week. Sources told Crain's the job cuts will take place during the coming weeks.

The newspaper's parent, Tribune Co., filed for bankruptcy protection from creditors in December. That same month, the newspaper cut 20 people from its 480-strong newsroom, and in February cut an additional 20 workers.