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

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Net assets of the plan for the which owns the Globsand T&G, fell to $417.7 million. The plan was particularly hard hit bysome $171.4 million in losses within several mutual For example, the plan’s larges holding, the Vanguard 500 Index Investment fund, sufferexd a nearly 40 percent loss in value. Another fund in the portfolio, the Vanguard Asse Allocation Investment fund, dropped nearly 32 percengt year-over-year. Only one of its major fund theDodge & Cox Incomde Fund, posted a positive return in 2008. Investmenta in fixed income and insurance assets generated $5.3 million in income. Dividend income of $11.65 million also helped offset losses.
Interest incomer from the company’s borrowing from its retirement fundtotaler $594,000. The Times has traditionally matched a fractiob ofGlobe employees’ contributions to theifr 401(k) accounts, however a proposal in front of leadershipl would eliminate the program.