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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 3 August 2012 [View all]Demeter
(85,373 posts)10. Is the Washington Post Being Asset-Stripped?
http://truth-out.org/news/item/10635-is-the-washington-post-being-asset-stripped
On April 27, 2012, I first wrote about possible insider trading and nepotism at The Washington Post, alleging that one way The Washington Post Company has been depleting the corporation of money and resources has been through dividend payouts and stock buybacks which benefit the Graham family.
On May 11, 2012, Ryan Chittum wrote a stunning piece supporting the same argument with respect to The Washington Post: "Dividends, share buybacks and an anti-paywall stance help bleed the paper dry."
Chittum further stated:
Much of that money is being squandered to appease the short-term interests and cash needs of shareholders, who very much include the Graham family, which controls the voting shares of the Post...
On April 27, 2012, I first wrote about possible insider trading and nepotism at The Washington Post, alleging that one way The Washington Post Company has been depleting the corporation of money and resources has been through dividend payouts and stock buybacks which benefit the Graham family.
On May 11, 2012, Ryan Chittum wrote a stunning piece supporting the same argument with respect to The Washington Post: "Dividends, share buybacks and an anti-paywall stance help bleed the paper dry."
Chittum further stated:
"The company ... has earned a total of $546 million since the start of 2008, when the financial crisis began in earnest. But in that same time, it has spent more than twice that - $1.1 billion - on buybacks and dividends that have helped put a floor under its share price (and its earnings per share)."
Much of that money is being squandered to appease the short-term interests and cash needs of shareholders, who very much include the Graham family, which controls the voting shares of the Post...
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Hey, we got the freedom to be stupid! It's in the Constitution. Or the Supreme Court said so.
tclambert
Aug 2012
#16
Harry Reid: Bain Investor Told Me That Mitt Romney 'Didn't Pay Any Taxes For 10 Years'
Demeter
Aug 2012
#9