UNDER NEW MANAGEMENT

Ed Finkelstein, publisher emeritus of the Labor Tribune, said he started his career at the paper as a gopher: “Hey kid, go-fer the donuts. Hey kid, go-fer the coffee.”

And with that introduction to how his 50-year Labor Tribune career unofficially launched when he was 14 and began working part-time at the paper in the summer, Publisher Ed Finkelstein officially turned over the ownership of the 87-year young Labor paper to the newly formed Labor Tribune Governing Board, which represents the paper’s new owners: the entire St. Louis-Southern Illinois Labor Movement.

In a special ceremony at the St. Louis Labor Council’s Sept. 20 delegate meeting that Council President Pat White termed “historic:”

• Finkelstein and White signed transfer of ownership documents.
• The nine organizations that provided the funding to make the transfer possible were introduced and recognized for their foresight in stepping up to save the paper for the Labor Movement. (See list at right.)
• Tim Rowden, the paper’s managing editor, was introduced as the paper’s new executive leader while maintaining his leadership post. Finkelstein, now publisher emeritus, is retiring but will continue to work with the Governing Board and Rowden for the foreseeable future to facilitate a smooth transition. Don’t be surprised if you see him at meetings or his byline in future issues.

NEVER THOUGHT POSSIBLE
“I never thought this was possible when Ed first explained to me the problem facing the paper that threatened its existence, but his persistence and determination to save the paper worked. It’s a compliment to what he’s done all his career in serving our Movement,” White said in opening the signing ceremony.

The issue that threatened to put the Labor Tribune out of business was a multi-million dollar unfunded pension liability that had to be resolved before an ownership change could happen. Without resolving the liability up front, asking the Labor Movement to take on a huge future liability of over $3 million to be paid out over 20 years was not feasible, Finkelstein said.

Thus began a determined negotiating effort with the Newspaper Guild and Communications Workers of America, which have a legal responsibility to protect their pension funds. They agreed to a one-time up-front payment of $821,000 to be invested over 20 years to completely pay the Labor Tribune’s liability and relieve any future liability.

UNIONS STEPPED UP
This agreement launched a multi-year effort by Finkelstein to meet with union leadership, attend union meetings to explain the issue and obtain approval for financial participation. Ultimately, eight progressive unions and a renowned Labor insurance company – Union Labor Life Insurance Company (ULLICO) – stepped up with financial commitments because they valued what the Labor Tribune brings to our unions’ members and families and all of Organized Labor.

Throughout the program, both White and Finkelstein praised the nine organizations for their foresight and determination to save the Labor Tribune as the fighting voice of our bi-state Labor community by providing funds to resolve the unfunded pension liability, which was no fault of the paper, as it has paid its pension contributions all along, despite a national pension crisis.

GOVERNING BOARD
All nine contributing organizations and representatives of the bi-state region’s AFL-CIO central bodies will serve as directors on the Labor Tribune Governing Board along with Rowden.

YOUR FIGHTS ARE OUR FIGHTS
“Ten years ago, Ed gave me a chance to write for, and eventually lead, the Labor Tribune. It was a gift of faith and trust I will never forget because it changed my life,” Rowden said responding as Finkelstein introduced him as the Labor Tribune’s new leader.

“This is your paper – literally now as well as figuratively,” Rowden said. “Your causes are our causes. Your fights are our fights. We celebrate your victories and strive to bring deeper understanding to the issues and legislation affecting your members.

“None of that is going to change. In fact, we’re working on ways to expand our outreach through more extensive use of email newsletters and social media, and to the larger audience outside the House of Labor so we might bring them in the door…. the Labor Tribune is here to amplify your many voices. We are and have always been here to serve you. And we’re looking forward to many, many more years to come.”

‘THANK YOU’ MEMENTO
As a special memento of this historic occasion and in appreciation for their courageously stepping up, Finkelstein and Rowden presented participants with miniature old-fashioned typewriter pencil boxes. “To our younger brothers and sisters in the audience, the typewriter is the early forerunner of your computer, only without the memory!” Finkelstein said with a smile.