The Boston Globe inches ever closer to becoming the latest newspaper to shut down.

Yesterday, Janet Robinson, the chief executive of the New York Times Co., reiterated that the paper's union has one week to agree to $20 million in concessions or follow Hearst Corporation's Seattle Post-Intelligencer into the great newspaper bin in the sky.

"We've talked to them about the May 1 deadline and I think they know it's the date we need for them to get back to us," Robinson told Globe reporters.

The Beantown paper is on track to lose $85 million this year. Considering its parent company is cutting costs everywhere it can, it makes sense that the Globe is in dire straights indeed.