Mexico's Slim to invest $250 million in N.Y. Times (Subprime loan, 14.1% interest))

Marketwatch ^ | 1/20/09 | Robert Daniel

[jimbo123]

New York Times Co. reached an agreement under which companies backed by the Mexican telecom investor Carlos Slim will invest $250 million and could boost their holding, helping the New York media company reduce its debt and strengthen its finances.

-snip-

The notes have what the Journal called a relatively rich coupon of 14.053%

[Bon mots]

“The Neuva Jork Times”

The old brown lady.

[Bon mots]

...still,

I wish Murdock bought it... or Berlusconi...

[Spktyr]

Bwahahahahahahaha!

This seals the doom of the NYT, as everything that Slim touches turns to fecal matter. Just ask CompUSA.

[abb]

Dayum!! Ain’t that about the rate those payday loan companies charge?

[Spktyr]

No, it’s better this way. It will limp along for a while longer, all the customers will leave (which means the property will be unrecoverable by whoever buys the wreckage), the brand will be ruined and nobody will ever pay attention to it again.

[csvset]

Any chance that Slim’s pesos are tainted narco money?

[Dr. Ursus]

The Spanish language edition coming to your local bodega
with Goya coupons and your winning lotto numbers.

[DB]

That’s like putting money into GM...

[Spktyr]

Not likely. IIRC, msot of his money comes from grocery chains in Mexico.

[gridlock]

Does Pinch still control 51%, or is Slim going to be able to bring in his own people?

[gridlock]

The notes have what the Journal called a relatively rich coupon of 14.053%

This is not even junk. You can't even see junk from here.

[ought-six]

NYT has been in support for illegal immigration for years and years, and it has historically kissed Mexican butt. Now it’s just official.

[4rcane]

funny thing is when I saw “Slim” I was thinking “Slime” not realizing “Slim” was someone’s last name in Mexico who is investing in NYT.

So the title read to me “Mexico’s Slime invest in NYT”

[tdscpa]

Until the US Treasury pays off Slim. (Bails out the NY Times)

[chainsaw]

A fool and his money are soon parted.

[KarlInOhio]

He's just flushing his money unless he can somehow break the hold the Sulzberger family has on the controlling class of shares.

Never invest in a company where ownership and control are separated.

[mad_as_he$$]

Sucker!

[mad_as_he$$]

Not these. They have been washed, pressed and folded.

[bray]

15% Yikes. 6 mos tops!

Pray for America Our Troops and O’s Salvation