Belmont Club

And then the ship seemed to momentarily rise in the water

Boston.com says the Globe may close unless a deal is struck with the unions. But even if the unions agree, will it be enough? The unthinkable is happening.

The New York Times Co. has threatened to shut The Boston Globe unless the newspaper’s unions swiftly agree to $20 million in concessions, union leaders said yesterday. … Executives from the Times Co. and Globe made the demands Thursday morning in an approximately 90-minute meeting with leaders of the newspaper’s 13 unions, union officials said. The possible concessions include pay cuts, the end of pension contributions by the company, and the elimination of lifetime job guarantees now enjoyed by some veteran employees, said Daniel Totten, president of the Boston Newspaper Guild, the Globe’s biggest union, which represents more than 700 editorial, advertising, and business office employees.

The parent company, the NYT, may not last long either. The old news model is in serious difficulties. When they go down there will be an opportunity for entrepreneurs who can create a new market for original facts.

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But maybe this version was better.