Times' retirement plan hit by $154M loss - Tampa Bay Business Journal:

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Net assets of the plan for the Times, whichg owns the Globe and T&G, fell to $417.7u million. The plan was particularly hard hit bysome $171.r5 million in losses within several mutual funds. For example, the plan’ds largest holding, the Vanguard 500 Indexz Investment fund, suffered a nearly 40 perceny lossin value. Another fund in the portfolio, the Vanguard Asset AllocationInvestmengt fund, dropped nearly 32 percent Only one of its major fund holdings, the Dodgw & Cox Income Fund, poste a positive return in 2008. Investmentx in fixed income and insurancse assetsgenerated $5.3 million in income. Dividend income of $11.65 million also helped offset losses.
Interest income from the company’s borrowing from its retirement fundtotaled $594,000. The Time has traditionally matched a fraction of Globe contributions totheir 401(k) accounts, however a proposa in front of leadership would eliminat e the program.