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    Poor multi-billionaires!

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    sinister_midget
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    Poor multi-billionaires!

    Post  sinister_midget on Wed Jul 12, 2017 8:44 am

    Bezos, Slim, and Buffett, Publicly Pleading Poverty, Ask Congress for Help With Their Newspapers

    It’s the sort of brazen move that might ordinarily trigger a front-page news story or an outraged editorial — a bunch of rich individuals asking Congress to write them a law that would give them better negotiating power against other rich individuals.

    Yet in this case, the rich individuals wanting special treatment are the newspaper owners themselves. Washington Post owner Jeff Bezos (worth $83.9 billion, according to the Bloomberg Billionaire’s Index), New York Times owner Carlos Slim (worth $61.1 billion), and Buffalo News owner Warren Buffett ($76.9 billion), publicly pleading poverty, are asking Congress for a helping hand in their negotiations with Google, controlled by Sergey Brin ($45.6 billion) and Larry Page ($46.8 billion).

    In a Wall Street Journal op-ed, David Chavern, president and chief executive of the News Media Alliance, whose board has representatives of Bezos-Slim- and Buffett-backed papers, complained about what he called “an economically squeezed news industry.” The Times, in a column sympathetic to the effort, likened the news providers to “serfs.”

    Maybe Serf Bezos should have considered the economics of the news industry when he bought the Washington Post, or Serf Slim when he bought his stake in the New York Times. The idea that Congress needs to roll to the rescue of “serfs” like Messrs. Bezos, Buffett, and Slim to bail them out of bad investments just doesn’t pass the laugh test.

    In respect of the Times, it’s particularly comical, because, as an editorial matter, the paper generally favors stricter antitrust enforcement. The newspaper that less than two years ago was editorializing that Congress “should also study whether there are ways to strengthen the antitrust laws,” now is backing the move for what its own columnist describes as “an anticompetitive safe haven,” “a limited antitrust exemption.”

    That was before the media was rightly hit over the head with their fake news stories. Either WSJ was involved in it, too, and I didn't know it (probably), or they fear fallout due to the widespread destruction done to the other media outlets destroying everything in their paths. In either case, not a whit of sympathy from me.

    This sort of thing ticks me off more than I can explain! I've been contemplating ways to divorce myself from Amazon completely the last few months (ever since I found they're a genuine and immediate threat to everybody, even Walmart - according to Walmart itself). I check almost daily to find alternatives to Google (APPL is NOT the answer) due to the garbage they've pulled and keep pulling. I already avoid Starbucks, Time-Warner, Kellogg's and AT&T like the plague. I stopped using anything from Proctor-Gamble years ago (even though some of their garbage is made right here). Cable TV went by the wayside at my house about 5 years ago because of the companies running the networks, the kinds of trash they push out, etc.

    I let my wallet do the talking for me. People like Bezos don't really need my money anyway.


    _________________
    One of the most important reasons for studying history is that
    virtually every stupid idea that is in vogue today has been tried
    before and proved disastrous before, time and again.
    --  Thomas Sowell

      Current date/time is Sat Sep 23, 2017 1:20 pm