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A Chilling Divestment - Threat to divest city funds from a Koch-owned LA Times
The Washington Free Beacon ^ | May 2, 2013 4:30 pm | Lachlan Markay

Posted on 05/02/2013 2:54:27 PM PDT by onyx

Threats by members of the Los Angeles City Council to use the city’s pension funds to penalize investors if they sell the Los Angeles Times to Charles and David Koch could be illegal and unconstitutional, experts say.

A proposal by councilman Bill Rosendahl would allow the city to yank investments by the city’s three pension funds in the Tribune Co., which owns the Times, if the company opts to sell the paper to someone who does not uphold “the highest terms of professional and objective journalism.”

Rumors that libertarian industrialists Charles and David Koch might buy the paper spurred him to propose the motion, Rosendahl told the Times. He did not respond to a request for comment.

“Frankly what I hear about the Koch brothers, if it’s true, it’s the end of journalism,’’ Rosendahl told the paper.

The Koch Brothers are reportedly considering purchasing the Tribune Co., which owns the Times, though they are also said to be uninterested in the company’s other media properties, which include 23 local television stations, a national cable network, and other newspapers.

“We cannot support the sale of the Times to entities who Times readers would view as a political transaction first and foremost, turning L.A.’s metropolitan daily into an ideological mouthpiece whose commitment to empirical journalism would be unproven at best,” Rosendahl wrote.

Legal experts say Rosendahl’s political motivations in directing the city’s pension funds could run afoul of the Kochs’ First Amendment rights.

A Koch spokesperson declined to comment on the issue.

“The government generally can’t discriminate against government contractors based on the content or viewpoint of the contractors’ speech,” University of California Los Angeles law professor Eugene Volokh said in an email to the Washington Free Beacon.

(Excerpt) Read more at freebeacon.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events; US: California
KEYWORDS: 1stamendment; billrosendahl; california; charleskoch; citythreatens; davidkoch; dbm; eugenevolokh; kochbros; latimes; losangeles; partisanmediashill; partisanmediashills
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OUTRAGEOUS!
1 posted on 05/02/2013 2:54:27 PM PDT by onyx
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To: onyx

Koch Industries is not a publically traded company. L.A. couldn’t purchase stock if they wanted to.


2 posted on 05/02/2013 2:56:05 PM PDT by DManA
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To: onyx

Everywhere we look Liberals are trying to suppress and shutdown conservative speech.

These people care as much for liberty in their actions as they do for their garbage.


3 posted on 05/02/2013 2:59:03 PM PDT by Monorprise
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To: onyx

Hilarious. Apart from all the laugh lines about the sacred standards of journalism practiced by the LA Times as now constituted, there’s the additional piquant irony of the stony broke and deep in the red LA pension fund being brandished as a weapon by the same liberal pinheads who turned the city into a basket case.


4 posted on 05/02/2013 3:00:46 PM PDT by Argus
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To: onyx

Your talking about the L.A city council, there is no depth too low for them to go. They make Soros look conservative.


5 posted on 05/02/2013 3:01:08 PM PDT by Mastador1 (I'll take a bad dog over a good politician any day!)
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To: onyx

Civil Rights violation. Very clear.


6 posted on 05/02/2013 3:01:17 PM PDT by reagandemocrat
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To: DManA; onyx

” Koch Industries is not a publically traded company. L.A. couldn’t purchase stock if they wanted to.”

LOL....correct. And the Koch bros are worth 66 billion, so they don’t care: )


7 posted on 05/02/2013 3:01:23 PM PDT by stephenjohnbanker
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To: Monorprise
.....if the company opts to sell the paper to someone who does not uphold “the highest terms of professional and objective journalism.”....

Tote and spew the Communist line.

8 posted on 05/02/2013 3:01:32 PM PDT by onyx (Please Support Free Republic - Donate Monthly! If you want on Sarah Palin's Ping List, Let Me know!)
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To: onyx

The reason to sell your stock in the LA Times is because it is a failing business model. However, if you want to sell because it is the PC things to do, well I guess that is okay as well.

But if you think your selling will have any effect one way or the other you don’t understand the way stocks work.

In order to sell, someone else has to buy. The more people wanting to buy then sell, the price of the stock goes up. If more people want to sell then want to buy, the stock goes down.

Outside of the stockholders none of that has any effect on the business itself (unless they own a lot of their own stock).

This all reminds me of how Rush will pick who will win a football game depending on which teams name is more PC. It the City of Los Angeles wants to pick stock based on how PC they are then go for it. The sooner they go bankrupt the better.

I hope they invest a lot in Green Energy and Battery Cars and wind mills. We know how these PC industries are doing.


9 posted on 05/02/2013 3:02:31 PM PDT by CIB-173RDABN (California does not have a money problem, it has a spending problem.)
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To: Monorprise

An animal is most dangerous when it is cornered. The Libs can’t really hide their true colors anymore.


10 posted on 05/02/2013 3:02:40 PM PDT by The Antiyuppie ("When small men cast long shadows, then it is v?ery late in the day.")
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To: reagandemocrat

Damages in the stratosphere. LA City needs to back off, pronto.


11 posted on 05/02/2013 3:03:27 PM PDT by reagandemocrat
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To: onyx

If the Koch brothers offer LA Times subscriptions online, I’d buy one because they’d be one of the few conservative, large newspapers in the country.


12 posted on 05/02/2013 3:03:55 PM PDT by madison10
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To: onyx
yank investments by the city’s three pension funds in the Tribune Co., which owns the Times, if the company opts to sell the paper to someone who does not uphold “the highest terms of professional and objective journalism.”
Hellooo?... the reason LA Times has to be sold is because it's CRAP.
13 posted on 05/02/2013 3:03:57 PM PDT by Berlin_Freeper (You Must be Hated by Evil.)
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To: onyx

Its outrageous... that the pension funds are still invested in the old buggy whip firm now. They should be placed in someplace financially viable regardless of who the old white elephant gets pawned off on.


14 posted on 05/02/2013 3:04:02 PM PDT by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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To: onyx

Only a stupid liberal would invest pension fund money into a dying medium anyway.


15 posted on 05/02/2013 3:04:03 PM PDT by Fledermaus (I'm done with the GOP. Let them wither and die. We need to start over.)
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To: stephenjohnbanker

Charles Foster Kane: You’re right, I did lose a million dollars last year. I expect to lose a million dollars this year. I expect to lose a million dollars *next* year. You know, Mr. Thatcher, at the rate of a million dollars a year, I’ll have to close this place in... 60 years.


16 posted on 05/02/2013 3:04:47 PM PDT by DManA
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To: The Antiyuppie

“An animal is most dangerous when it is cornered. The Libs can’t really hide their true colors anymore.”

Nope but so far they have proven themselfs pritty darn good at iqnoring them.

I for one Hope the Koch Brothers get into the media buiness to start putting out SOMETHING other than what the left spews.

But they need to be warned. Just as leftist everywhere work to suppress the means of conservative speech they also work in the big advertisement company’s to suppress conservative speech.

Theses people are willing to do anything and everything to see to it that we are not heard. We are going to have to build our own client list. Talk directly to industry & business leaders to sell our advertisement spots.


17 posted on 05/02/2013 3:06:14 PM PDT by Monorprise
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To: Monorprise

>> Everywhere we look Liberals are trying to suppress and shutdown conservative speech.

Which is simply a violation of the 1st Amendment.


18 posted on 05/02/2013 3:07:27 PM PDT by Gene Eric (The Palin Doctrine.)
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To: stephenjohnbanker

Not to mention that if the Koch’s buy the place, the shareholders by definition will have to sell.


19 posted on 05/02/2013 3:07:29 PM PDT by DManA
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To: CIB-173RDABN

These economics-challenged morons are running DOWN the price for the LA Times by this kind of talk -— for the benefit of Koch and against the benefit of the unon pension funds.

AWESOME!


20 posted on 05/02/2013 3:07:32 PM PDT by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem.)
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To: DManA

Kock’s should have been Kocks.


21 posted on 05/02/2013 3:08:13 PM PDT by DManA
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To: DManA

They are threatening to divest from seller who is public


22 posted on 05/02/2013 3:08:44 PM PDT by wardaddy (wanna know how my kin felt during Reconstruction in Mississippi, you fixin to find out firsthand)
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To: Monorprise

“Frankly what I hear about the Koch brothers, if it’s true, it’s the end of journalism,’’ Rosendahl told the paper.

“Frankly what I hear about the Koch brothers, if it’s true, it’s the end of Marxism,’’ Rosendahl told the paper.

Fixed it .


23 posted on 05/02/2013 3:09:33 PM PDT by stephenjohnbanker
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To: onyx

The neofascist nazis are trying to drag America into the dark ages.

The quality or value of the work doesn’t matter if it doesn’t uphold the neofascist ideology. Its the same across all creative disciplines. Art, music, literature, science, medicine, the quality or value of the work is secondary to whether the creator holds the right ideological view.

If Jonas Salk were to develop the polio vaccine today and make the mistake of expressing a pro life view, we would face more years of polio wrecking lives.


24 posted on 05/02/2013 3:09:47 PM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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>> Legal experts say Rosendahl’s political motivations in directing the city’s pension funds could run afoul of the Kochs’ First Amendment rights.

Racketeering? Coercion?


25 posted on 05/02/2013 3:09:56 PM PDT by Gene Eric (The Palin Doctrine.)
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To: DManA

Exactly : )


26 posted on 05/02/2013 3:10:31 PM PDT by stephenjohnbanker
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To: wardaddy

So the Times is an entity wholly owned by another entity?

How would L.A. divesting in that hurt the Kochs?


27 posted on 05/02/2013 3:12:09 PM PDT by DManA
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To: Jewbacca

I did not think of that but of course you are correct.


28 posted on 05/02/2013 3:13:30 PM PDT by CIB-173RDABN (California does not have a money problem, it has a spending problem.)
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To: onyx

The Kochs have as much right to buy the paper as anyone.
I just wish they were actually as conservative as most people think they are.


29 posted on 05/02/2013 3:13:40 PM PDT by AuntB (Illegal immigration is simply more "share the wealth" socialism and a CRIME not a race!)
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To: AuntB

Well said.


30 posted on 05/02/2013 3:14:59 PM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: Jewbacca

” These economics-challenged morons are running DOWN the price for the LA Times by this kind of talk -— for the benefit of Koch and against the benefit of the unon pension funds.

AWESOME!”

Very!


31 posted on 05/02/2013 3:15:08 PM PDT by stephenjohnbanker
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To: onyx

“City funds?” We didn’t know that the paper was communist-owned, but we do now.


32 posted on 05/02/2013 3:16:25 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
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To: onyx

The Communist Takeover Of
America - 45 Declared Goals

#20. Infiltrate the press. Get control of book-review assignments, editorial writing, policy-making positions.

http://rense.com/general32/americ.htm

(HURRY, commies!!!)


33 posted on 05/02/2013 3:21:36 PM PDT by Mortrey (Impeach President Soros)
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To: The Antiyuppie

Years ago I saw something very disturbing along these lines. Some token black Dem politician was saying that when you control millions in pension funds you don’t have to march in the street anymore; they would vote with the shares they held (basically shareholder activism by the Dems). On a positive note, lib shareholder proposals contribute to a speedy demise of a company; if they insist you hire people just because of their color, the bottom line is hit immediately.

This dope openly threatened this on TV.


34 posted on 05/02/2013 3:23:34 PM PDT by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: reagandemocrat
Civil Rights violation. Very clear.

Republicans don't have civil rights.

Ask Newt Gingrich, whose cellphone conversation was illegally intercepted by Democrats in Florida.

Ask Linda Tripp, whose Pentagon job application was illegally released to the press by Democrat Defense Department spokesman Kenneth Bacon.

Ask Sarah Palin, whose Yahoo email account was illegally hacked by the son of a Tennessee Democrat state Senator.

Ask Milwaukee Republicans whose get-out-the-vote vans had their tires slashed by the son of Democrat Congresswoman Gwen Moore.

Ask Mitt Romney, whose private meeting with donors was illegally videotaped by a union bartender.

Ask Mitch McConnell, whose campaign office was illegally bugged by liberals.

Ask any conservative speaker on college campuses, whose speeches are disrupted by liberal students.

-PJ

35 posted on 05/02/2013 3:24:25 PM PDT by Political Junkie Too (If you are the Posterity of We the People, then you are a Natural Born Citizen.)
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To: onyx

““turning L.A.’s metropolitan daily into an ideological mouthpiece whose commitment to empirical journalism would be unproven at best,” Rosendahl wrote.”

And what is it now?


36 posted on 05/02/2013 3:26:23 PM PDT by Jim Noble (When strong, avoid them. Attack their weaknesses. Emerge to their surprise.)
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To: AuntB

I’ll take libertarians over liberals any day.


37 posted on 05/02/2013 3:26:27 PM PDT by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem.)
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To: Mortrey

BTTT


38 posted on 05/02/2013 3:28:22 PM PDT by onyx (Please Support Free Republic - Donate Monthly! If you want on Sarah Palin's Ping List, Let Me know!)
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To: FReepers; Patriots; FRiends




*SNORT*

Keep Free Republic Alive!

Donating Monthly would be Ideal.

Generous FReeper Sponsors are donating $10 for every New Monthly Donor

39 posted on 05/02/2013 3:29:28 PM PDT by onyx (Please Support Free Republic - Donate Monthly! If you want on Sarah Palin's Ping List, Let Me know!)
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To: stephenjohnbanker
And the Koch bros are worth 66 billion, so they don’t care: )

The Koch bros should just buy Los Angeles. Then they could kick the city council to the curb.

40 posted on 05/02/2013 3:44:33 PM PDT by SMM48
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To: onyx

“We cannot support the sale of the Times to entities who Times readers would view as a political transaction first and foremost, turning L.A.’s metropolitan daily into an ideological mouthpiece whose commitment to empirical journalism would be unproven at best,” Rosendahl wrote.

That’s really rich!


41 posted on 05/02/2013 3:44:55 PM PDT by Enten (I don't have islamophobia...I do have islamonausea)
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To: onyx

Satire?


42 posted on 05/02/2013 3:45:05 PM PDT by Raycpa
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To: onyx

Government leaders are threatening to intervene if a republican may purchase the local newspaper?


43 posted on 05/02/2013 3:48:06 PM PDT by ansel12 (Civilization, Crusade against the Mohammedan Death Cult)
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To: onyx

“the highest terms of professional and objective journalism.”

If that is a problem they should have never invested in the first place/

The LA Times is as big a DNC tool as the NY Times.


44 posted on 05/02/2013 3:56:12 PM PDT by Venturer
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To: Gene Eric

From a liberals point of view laws & limits are only for the peons under them.


45 posted on 05/02/2013 3:56:50 PM PDT by Monorprise
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To: onyx

I think all of this is pretty funny. Whether Koch’s buy any newspapers or not, they certainly have caused the libs to get their panties in a wad.


46 posted on 05/02/2013 4:00:08 PM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: Berlin_Freeper
Hellooo?... the reason LA Times has to be sold is because it's CRAP.

They like their crap just the way it is. The city is uncomfortable because the new LA Times will be very interested in covering all the crap going on in the city.

47 posted on 05/02/2013 4:01:40 PM PDT by Slyfox (The Key to Marxism is Medicine ~ Vladimir Lenin)
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To: onyx
Do you really think the Kochs care. The Lefties at the LA Times have driven the value of the brand so far down the toilet the paper has very little value and is having difficulty meeting pay roll
48 posted on 05/02/2013 4:10:13 PM PDT by rdcbn
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To: onyx

“Frankly what I hear about the Koch brothers, if it’s true, it’s the end of journalism,’’ Rosendahl told the paper.


Doesn’t this just sum up liberalism dreadfully? He doesn’t know the guys, and doesn’t know anything about them with any certainty, but he has “heard” things about them, and that is enough for him to use his power as a legislator to turn the force of the state against them.


49 posted on 05/02/2013 4:12:44 PM PDT by Boogieman
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To: Grams A

LOLOLOL.
Yep, you’re right!


50 posted on 05/02/2013 4:13:21 PM PDT by onyx (Please Support Free Republic - Donate Monthly! If you want on Sarah Palin's Ping List, Let Me know!)
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