You betcha.
Posted on 09/10/2008 5:51:48 PM PDT by abb
Move over Warren Buffett. One of the world's richest men has decided to bet on newspapers, too. Mexican billionaire Carlos Slim Helú along with his family disclosed in a Securities and Exchange Commission filing that they now own 9,100,000 Class A shares or 6.4% of the New York Times Co.
The New York Times declined to comment.
This makes the Slim family one of the company's largest Class A shareholders along with Harbinger Capital Partners. Harbinger owns a 20% stake in the company and two seats on the board held by Scott Galloway, founder and CIO of Firebrand Partners, and James Kohlberg, chairman of the private equity firm Kohlberg & Co.
According to a 2007 article by Fortune's Stephanie N. Mehta, it's estimated that Slim has fortune close to $60 billion. She reports that Slims' family holdings represent 5% of Mexico's gross domestic product. Slim owns Teléfonos de México, which controls 92% of Mexico's phone lines and another company that commands roughly 70% of wireless market share, according to Fortune.
Not on the front page above the fold... but they will now.
LLS
Most logical guess so far.
This may be why Mexcan trucs were allowed on our roads, they sent one full of $5 bills with white powder on them to the NYT building to pay for the shares.
Tax write-off. A loss is a loss is a loss.
How do you say “Sucker!” in Spanish?
At least it reduces our current account deficit.
His long lost brother posts here. (He is my bestest friend and he is going to loan me lunch money for tomorrow)
Which class stock is the real voting stock?
Don’t you see? It’s just a temporary dip.
Did Pinch get that shiner from Obama’s weiner?
If he turns it into a Spanish only publication we will all be better off.
Every other telephone company in the world does "six second billing" meaning, pricing is per each six seconds of phone time; that is, each minute (60 seconds) is billed in tenths of a minute (6 seconds) increments.
Except for Mexico, where you are forced to be billed in 60-second increments. Thus, a caller to Mexico is forced to pay for (on average) 30 seconds of phone time that they never actually USE.
You betcha.
Buffett is a liberal so this suits his disposition.
Except for Mexico, where you are forced to be billed in 60-second increments. Thus, a caller to Mexico is forced to pay for (on average) 30 seconds of phone time that they never actually USE.
Thank You for posting this information.
Good one!
LLS
Thank you;-)
http://www.nytimes.com/2008/09/11/business/media/11times.html?_r=1&ref=business&oref=slogin
Mexican Billionaire Buys a 6.4% Stake in Times Company
You got a problem with that?
Easy there. It’s also a descriptive suffix in the Old West, among other places. If his last name was “fats” I would have asked if he was a pool player.
Recalibrate your humor meter. ;)
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