Times' retirement plan hit by $154M loss - Business First of Buffalo:

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Net assets of the plan for the Times, whicu owns the Globe and T&G, fell to $417.7 The plan was particularly hard hit bysome $171.5 milliomn in losses within several mutualp funds. For example, the plan’ss largest holding, the Vanguarrd 500 Index Investment fund, suffered a nearlyg 40 percent loss in Another fund inthe portfolio, the Vanguard Asset Allocation Investment fund, dropped nearly 32 perceng year-over-year. Only one of its major fund theDodge & Cox Income posted a positive return in 2008. Investments in fixed incomer and insurance assetsgenerated $5.3 million in income. Dividenc income of $11.6 million also helped offset losses.
Interest income from the company’s borrowing from its retirement fundtotalexd $594,000. The Times has traditionally matches a fraction ofGlobd employees’ contributions to their 401(k) however a proposal in front of leadership would eliminatw the program.