Tuesday, January 1, 2013

Warren Buffet Close Company & Fires 80 Employees

(WTOP) WASHINGTON - The Manassas News & Messenger is no more. The paper printed its final edition after 143 years of covering the news in Prince William County, Manassas and Manassas Park Sunday.

The paper's parent company, the Warren Buffett-owned World Media Enterprises, decided to close the paper and its website InsideNoVa.com in November, saying the paper was losing money, was in a competitive news market, and "had a tough time finding the sense of community that a community newspaper needs to prosper."

World Media Enterprises purchased the paper, as well as several others, from Media General in June. The News & Messenger has been the only paper closed after the purchase so far.

All employees lost their jobs, and 72 other jobs have been cut in the company.

Even the powerful Warren Buffett isn't immune to Obama's destruction of the economy. If Buffett, who is a multi-billion dollar industry, had to shut down a company, what are the chances for a small business owner to surviving in this economy. This is a bad start for the new year!