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The Murdoch Follies of 2011

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AskAsa
User Rank
Platinum
Re: No doubt...
AskAsa   10/30/2011 4:08:18 PM
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Always a great read from Marvin.
Comparing the Murdoch story to Rasputin  is interesting.
Even after being poisoned, shot, beaten, bound, presumed dead and thrown in the river - Rasputin finally died from drowning.
His murder did nothing to save or prevent the fall of a  great empire.
Metaphor anyone?

driven
User Rank
Iron
Re: Wall Street Journal Credibility
driven   10/30/2011 10:29:35 AM
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Street Smart, isn't it sad that we have to take almost every allegedly objective news source with a grain of salt these days? Sort of makes the craziness of the Hearsts at their heyday look tame--at least they were overt.

Dex
User Rank
Iron
Re: No doubt...
Dex   10/30/2011 10:20:43 AM
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Money talks. The Murdochs will walk, again. And they're starting to bore me with their antics.

icebreaker1975
User Rank
Silver
No doubt...
icebreaker1975   10/28/2011 12:33:38 PM
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neither of those Murdochs are doing any jail time anytime soon...money talks!

Value Hiker
User Rank
Platinum
Dual class shares
Value Hiker   10/27/2011 2:14:57 PM
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I am never being a big fun of dual class shares. Like democracy, single class share does not gurantee the best will happen (like Google), but it does prevent the worst scenario (Adelphia Communications Corporation).  

The SEC shall remove the dual class shares. If the family want to control the company, investing more money in it, it is not only fair, it is more responsible.

Street Smart
User Rank
Platinum
Wall Street Journal Credibility
Street Smart   10/27/2011 10:34:56 AM
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@cat tail, I still think that the WSJ is an excellent publication and in many ways I think Murdoch has made it more user friendly, less inside baseball.  It has gotten a little too relentlessly conservative for my taste, but if read as part of a "fair and balanced" diet, I don't even mind that.

But corruption has been eating away at the Journal's squeaky clean reputation for a while now. Les Hinton's departure was the first blow and the new revelations about Andrew Langhoff, the publisher of WSJ Europe are the second.  What else is in store will be interesting to see.

Meanwhile, I'm going to take the product at face value, but it's sad always having to wonder if I SHOULD be taking it with a grain of salt. 

Phoenix
User Rank
Gold
Re: From Riches to RICO
Phoenix   10/26/2011 8:38:45 PM
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Whatever said and done people are still buying the news papers, journals and watching fox tv. All the unfavourable publicity does not seem to deter them. I also feel Marvin is right when he says they could have still kept the news of the world. They could have let the readers decide whether to buy or not. A totally new standard of reporting with ethics could have been established with new editors with track records beyond reproach. After all don't you think actions speak louder then words? I don't know how successful they would have been but it would have still let them hang on to their cash cow. What do you think?

cat tail
User Rank
Platinum
Re: From Riches to RICO
cat tail   10/26/2011 4:03:23 PM
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Why do we all look with disdain on Rupert's tabloids but still seem to think the wsj is above reproach? History? Tradition? Or our refusal to connect the dots?

Street Smart
User Rank
Platinum
From Riches to RICO
Street Smart   10/26/2011 12:05:04 PM
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Any corporation can have a bad apple in its midst, but when a company's culture takes a turn for the corrupt, that's never a good thing.  Witness Tyco, Enron and Galleon Group as recent examples of cultures gone to seed.

News Corp is following in that same mold if you ask me and there are two factors that will expedite their fall from grace even if the BOD won't make things right: First, Sir Rupert is one ruthless SOB.  When things heat up with Parliament, he will throw James under the bus so fast that it will make our heads spin, and that will set off a chain reaction of Murdoch-cide that will be breathtaking in its ruthlessness.

Second, Rupert better stay on HIS side of the pond because there's a certain US Attorney for the Southern District of NY (Preet Bharara) who I'll bet is lying awake nights thinking up novel ways to ensnare the whole darned bunch of them.  RICO? Money laundering? Tax evasion?  All of the above?  All I know is that a modern-day Elliot Ness vs. the New York Post could be the perfect antidote to a boring election season!

tokyogai
User Rank
Platinum
Bad management
tokyogai   10/26/2011 9:57:11 AM
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No matter how you play the facts, it looks like unbelieveable arrogance and pure bad management. Ruprt and family will stay rich and the other shareholders will either live with it or sell their stock. No other votes count.



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