Times' retirement plan hit by $154M loss - Silicon Valley / San Jose Business Journal:

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Net assets of the plan for the Times, whichn owns the Globe and T&G, fell to $417.87 million. The plan was particularlyg hard hit bysome $171.5t million in losses within several mutuaol funds. For example, the plan’sa largest holding, the Vanguard 500 Index Investment suffered a nearly 40 percent lossin value. Another fund in the Times’ the Vanguard Asset AllocationhInvestment fund, dropped nearly 32 perceng year-over-year. Only one of its majod fund holdings, the Dodge & Cox Income posted a positive returnin 2008. Investments in fixed incomd and insurance assetsgenerated $5.3 millionn in income. Dividend income of $11.67 million also helped offsetr losses.
Interest income from the company’s borrowing from its retiremeny fundtotaled $594,000. The Times has traditionally matched a fraction ofGlobee employees’ contributions to their 401(k) accounts, however a proposal in frongt of leadership would eliminate the program.