Glug, glug, glug

"...Glug, glug, glug," said the last man standing on the deck of the Titanic as the once-proud ship listed more quickly than ever into the icy waters of the North Atlantic.

Or at least that's what it felt like after the latest bombshell at The San Diego Union-Tribune today: a suspension of the company's matching 401(k) contributions; a mandatory unpaid furlough program for non-salaried employees; a freeze on merit pay; a near doubling in the employee share of health-care premiums; and a big hefty pay cut - 9.25 percent - for me.

But the worst is yet to come: more layoffs that I'm guessing will come next week.

It could be worse. Gannett Co. told its employees today that the Tucson Citizen will cease publication on March 21 if a buyer can't be found. The Minneapolis Star-Tribune filed for Chapter 11 bankruptcy. And the Detroit papers are pushing ahead with plans to cease publication of a real paper most of the week.

Meanwhile, the calvary is nowhere to be found. Circuit City announced today it's liquidating its U.S. stores, and Macy's is cutting back sharply on its newspaper advertising.

The reaction has been one of stunned silence. I saw many tears shed today, though you never know if that had something to do with an uncermonious end to a relationship. I, and everyone I know, is keeping busy, doing more with less, refusing to succumb to the temptation of just giving up and walking out the door.

One thing is for certain. It's going to get worse. Blogs are reporting the Union-Tribune has lost more than 40 percent of our advertising revenue since 2006, and the recession has yet to hit its stride. In fact, I'm beginning to wonder if we're halfway to a depression. (Think of it: If you use the same government criteria we were using back in 1931, unemployment is soaring past 14 percent).

Still, I have no regrets. My only other dream was to play centerfield for the Los Angeles Dodgers, a dream I easily could have reached had it not been for my lack of youth and talent. So this is what I do. This is who I am. This is what I believe in. And this industry will thrive once this economy rights itself.

Of course, I may be dead by then.