Just in time for the 2008 presidential race, a certified "Friend of Bill" is bidding to acquire the Tribune Company, which owns the Los Angeles Times and Chicago Tribune. As reported in this New York Times article , FOB Ronald W. Burkle and Eli Broad sumbitted their bid yesterday to Tribune management.According to his Wikipedia entry:
- Burkle is a well-known political contributor and longtime Democratic fundraiser.
- He supported the Black Panthers in the Sixties.
- Burkle has supported California State Treasurer Phil Angelides and employed former San Francisco Mayor Willie Brown
- Burkle is a close friend of former President Bill Clinton, who calls Burkle's Boeing 757 private jet "Ron Air."
- Clinton, who is a senior adviser to Burkle's company, Yucaipa, wrote in his memoir, "My Life", that Burkle "became one of my best friends."
- Burkle and Steve Rattner helped finance Al Gore's cable Current TV network.
Contact Mark at mark@gunhill.net
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Gore flies in private Boeing 757-200?
August 22, 2007 - 12:46 ET by Jack BauerOh goody, I am so pleased he's a pal of Al "You have to reduce your carbon footprint, but not me" Gore.
Assuming it's a 200 variant, the Boeing 757-200 carries 11,489 gallons of fuel and has a maximum passenger load of 234.
Can you imagine how much CO2 that must pump into the atmosphere to ferry, what... a dozen people in maximum luxury?
I bet it's more than 400 of us dumb shlubs driving ours cars all week. It's good to be king.
I went digging for how the
March 30, 2007 - 06:25 ET by sarcasmoI went digging for how the billionaire made his money, which I think is relevant to the possible future course of LATimes bias. The grocery part bodes well. You pretty much can't sell groceries without understanding a bit about capitalism. The bad part is his firm advises public (government) retirement funds along with the private ones, but all that means is that the status quo will remain WRT LATimes bias against privatizing Social Security. Of course (like the line item veto, come to think of it...) I'm beginning to suspect nobody who claims to want it really wants any change in that, either, because the "trust" fund is a source of funding for more spending to them.
JMR
CALLING ALL CONSERVATIVE BILL
March 30, 2007 - 07:01 ET by rimskyCALLING ALL CONSERVATIVE BILLIONAIRES! Please, somebody.. make a bid! Hey, one can dream, can't one?
Just in time for the 2008
March 30, 2007 - 07:27 ET by motherbeltJust in time for the 2008 presidential race,- Mark Finkelstein
Can you say "in-kind contribution" disguised as news????
And with McCain/Feingold, it will be tough to counteract.
Where is Huey Newton when you
March 30, 2007 - 07:58 ET by AlgerHissWhere is Huey Newton when you need him?
Rochester, Minnesota: A Fem_Leftist City!
Burkle is a one of the "
March 30, 2007 - 10:15 ET by jdhawkBurkle is a one of the "lucky sperms." That is his money came from Dad's money, an executive of the Stater Bros. grocery chain.
As far as Burkle buying the Tribune, et al, go for it. It has proven a rotten investment. Since 2004, the stock price as been cut by a third. Since the BOD announced that it was for sale, the stock price has actually continued to tank. One normally expects the stock to go up in this circumstance.
Be that as it may, it is no wonder that there is never any good news about the economy out of these "news" outlets. Executive compensation (and senior writers and editors) usually consists of salary, stock options and restricted stock. While the former may be lucrative in and of itself, the later depends on the price of the stock after issue to rise. When it doesn't (as in this case and in the majority of our country's liberal "news" outlets), the employee gains nothing and these incentive vehicles eventually become worthless.
Fellas, fellas, fellas, rich
March 30, 2007 - 10:35 ET by dscottFellas, fellas, fellas, rich liberals are not as stupid as you suppose. Burkle is only doing what the Manhattan real estate developer Stephen L. Green and his brother Mark Green did with Air America and George Soros before them... Recapitalizing a failing business enterprise as a false front to push their liberal agenda, i.e. a propaganda outlet. It's called making an otherwise non-deductable political donation into a deductable business loss. (At the tax payers expense, btw) This is just another angle on the money laundering scheme used by the mob for years to repatriate their illegally gotten money.
What they essentially are doing is giving free and positive air and print to the lib/Dems. These guys are not buying the LA times or any other MSM to make money. No businessman in their Capitistic right minds would buy an MSM company just to loose money, they would be forced to take the Fox News format of Fair and Balanced. Do you expect any such balanced treatment toward conservative Repubs or Libertarians? NOT! BTW- all just as we get into the presidential election cycle. This does not pass the sniff test, It's beginning to stink.
“The object of life is not to be on the side of the majority but to escape finding oneself in the ranks of the insane.” – Marcus Aurelius
Burkle is trying to buy this
March 30, 2007 - 10:52 ET by Gat New YorkBurkle is trying to buy this property because he has the advice of someone with an innovative business model that uses the Internet to revive failing newspapers. In addition he is in the retail business and why not acquire newspapers you advertise in? But there is definitely the political side that will radically change these newspapers from left wing liberal mouthpieces to extremely left wing rags that will be used to openly bash conservative views and support his candidates.