*LAT staffers show support

It's not exactly open warfare - but it's getting there. An open letter to Tribune Co. is making the rounds in the LAT newsroom this afternoon. "We the undersigned members of the Los Angeles Times want to state our support and appreciation for the stand our publisher, Jeff Johnson, and editor, Dean Baquet, have taken on behalf of quality journalism and the newspaper we love," the letter states. Here's more:

We hope their message resonates beyond the newsroom and inspires many more to recognize the vital role that a robust newspaper plays in our individual communities and our society as a whole.

While more doesn't always equal better, we are concerned that further budget cuts will only serve to harm the integrity of an institution that many of us have labored to build over a number of years as well as the quality of the product we help to deliver daily. We seek to uphold a tradition of excellence and here rieterate our commitment to preserve this newspaper's unique place in the greater Los Angeles area, California and beyond.

Not sure of the signature count or how the letter will be delivered to Tribune's top brass.

*Tribune suit: A shareholder lawsuit filed today maintains that eight directors of Tribune Co. had "erected draconian defensive barriers that prevent any potential acquirer from, among other things, attempting to buy the company directly from shareholders." The draconian defense was the company's stock repurchase plan. Guess who wasn't included among those board members being sued? The three who are aligned with the interests of the Chandler family. The Chandlers, as you may recall, opposed the stock repurchase plan. Suit was filed in U.S. District Court in Chicago.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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