Monday, April 16, 2018

Good news, bad news

Michael Ferro has sold his shares of Tronc (the Chicago Tribune), and is now officially gone (other than a consulting agreement that the company must pay him). That's good news. He has been a train wreck there.

The shares were bought by Col. McCormick's family, the original owners of the Tribune. That's good news too. At least they appreciate the history.

But Ferro is walking away with a profit of more than $100 million...after inflicting untold damage.

That doesn't seem fair or right.