Rupert And The Cherub
June 2, 2007Sixty years of living and many other things separate Rupert Murdoch and my teenage daughter, Ali, but they both may help create a new era in American journalism. Murdoch has offered a whopping premium for control of Dow Jones & Co., publisher of The Wall Street Journal and other outlets. The Bancroft family, which has controlled Dow Jones since 1902, initially gave his offer a chilly reception. But the Bancrofts …
Doubting A Public Trust
June 1, 2007I have no idea who first declared “a newspaper is a public trust.” It is something all respectable journalists are taught to believe. I believed it too, for many years, after I heard the expression at college. But I am not certain any longer that I know what this means, let alone whether I believe it. Does it mean accepting another journalism-school mantra, which is that the role of a …
Back On Top: Lessons From The 2000-2007 Market Cycle
June 1, 2007While stock market performance can be very cyclical, investors still expect to receive positive returns over the long term. When the next market downturn comes, how will you respond? Last month, the S&P 500 Index passed its previous closing record, set in March 2000. The S&P 500 dropped a total of 49 percent from that original peak to its trough in October 2002. Investors who sold at the market bottom …
Retreat To Nova Scotia Ocean Estate
June 1, 2007If a secluded getaway with spectacular views, plenty to do and a delightful summer and autumn climate sounds appealing, we may have what you want. Eagle’s Cliff is a spacious four-bedroom, 3.5-bath house set on the edge of a cliff overlooking the Gulf of Maine about 20 minutes from Yarmouth, Nova Scotia. We bought and manage the house and a surrounding 20-acre parcel as part of a client’s international real …
Clear Channel Buyout Fight: Who Wins?
June 1, 2007Shareholders of Clear Channel Communications are fighting with large private equity firms to get more for their shares in a proposed buyout. If the deal is ultimately voted down, all parties will lose. In November 2006, Bain Capital and Thomas H. Lee Partners won a competitive auction for the takeover of Texas-based Clear Channel with a price of $18.7 billion, or $37.60 per share. The offer received the blessing of …
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