Talks 'break down' between Press Herald union and possible investors

From a note to union members today:

The talks with the potential investors, Chris Harte and Aaron Kushner, have broken down.  The investors and the Guild made significant progress.  However, the Guild Negotiations Committee rejected the proposed deal because of the inability to secure an agreement that would protect the contract if the company filed for bankruptcy.  No additional meetings between the Guild and these investors are planned.  We don't know what impact, if any, this will have on the potential recapitalization.  We will be scheduling Guild membership meetings next week.
 
In Solidarity
 
Tom Bell, President
Portland Newspaper Guild, Local 31128