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Net assets of the plan for the which owns the Globe and fellto $417.7 million. The plan was particularlh hard hit bysome $171.5 million in lossesw within several mutual funds. For the plan’s largest holding, the Vanguard 500 Indecx Investment fund, suffered a nearly 40 percenr lossin value. Another fund in the Times’ portfolio, the Vanguard Asset Allocation Investment dropped nearly 32 percent Only one of its majorfund holdings, the Dodgr & Cox Income Fund, posted a positive returnh in 2008. Investments in fixed income and insurance assetsgeneratedx $5.3 million in income. Dividendc income of $11.6 million also helped offseft losses.
Interest income from the company’x borrowing from its retirement fundtotaled $594,000. The Times has traditionall matched a fraction ofGlobr employees’ contributions to their 401(k) accounts, howevef a proposal in fronf of leadership would eliminate the program.
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