From Philebrity:
So according to our source at the meeting this morning, two lawyers representing PNI, along with PNI VP of Finance Andrew Harrison, were grilled by a lawyer from the U.S. Trustee's Office, appointed by the court to oversee bankruptcy proceedings, on a variety of matters from status of current lawsuits on down to PNI's own current financial status. What was revealed was just a little cringe-inducing. As it stands now, PNI only really has two assets that are worth a damn: The PNI offices at 400 N. Broad, and its printing facility in Conshohocken. But whatever value those pieces of real estate have is somewhat sullied by this fact, also revealed this morning: PNI hasn't paid around $450K in real estate taxes owed to the City. What's more, PNI brass also confessed that they could be out of money -- as in out of money -- as soon as July.
PNI's Brian Tierney - your typical Republican who grabbed his $650,000 bonus payment last Dec 2008 - while people at the newspapers were losing their jobs - and he didn't pay his taxes owed.
Yeah - that Tierney guy, Santorum's best buddy - those two upstanding moral Catholics - complete hypocrites!
And Bruce Toll - who cashed out about $70 MILLION in stock options from Toll Bros - just since April of 2007 - he can't afford to pay the city taxes of $450k???
Mr Toll and Mr. Tierney think they needed the money more than Philly does for Libraries. what great guys!
Yeah, this is pretty pitiful. I'm worried about the state of media in Philadelphia. Not sure how newspapers are going to survive there, but it's something I think about at least once a day.