Brian Tierney's foolish raise

The downfall of wannabe media tycoon Brian P. Tierney is a sight to see.

Two months before his company, which controls Philadelphia's dominant newspapers, filed for Chapter 11 bankruptcy protection, Tierney decided he deserved a 40% raise. At the same time, he asked his unionized workforce to give up a $25 a week raise. His increase of $232,000 would have employed about three journalists.