Let’s make a deal: New York Times Bonds?
By Tom Teicholz at 16 February, 2009, 10:52 am
This monring’s New York Times brings a profile of Carlos Slim the Mexican billionaire who has recently invested in the New York Times. The article explains that in return for his $250 Million Slim is getting a 14% return — HOLD ON THERE!!!! 14%!!!
Let’s stop for a minute. The last few years with hedge fund avarice and private equity selfishness demonstrated how the rich get richer. The playing field is not level. So here’s another example. Keep in mind that 14% return is more than Bernie Madoff was delivering and he had to have a ponzi scheme to meet that.
Now I don’t object to Mr. Slim making 14% — I just believe we should all be able to make 14%. So here’s my modest proposal. Why doesn’t the New York Times company offer all of its subscribers a 14% return if they invest in the New York Times? Hell, in this economy, I’d take a 10% guaranteed return. And I would gladly invest some of my remaining IRA money in the New York Timees.
So what do you say, Mr. Sulzberger? Is it only the rich who get richer? Or can we poor subscribers also share the benefits?
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