Let me guess - the billionaire Eli Broad likes to put on a baseball cap and pretend he understands ‘workers’...
Liberals are the greediest people on the planet.
Pray for America
why don't these people just give out their billions to the actual commoners?...the people that actually make the country work...
doc1019: Let him through away his billions ...
You guys need a lesson in how this works. The newspaper may not be profitable, but owning one can be VERY profitable. Manipulating public focus is a way to manipulate interest in particular investments. Consider governor Brown's announcement concerning his support for a water tunnel under the Sacramento San Joaquin Delta. Needless to say, speculative interest in the tunneling contractors will be hot. Now, what do you bet a few phone calls to key players were made before that announcement, union bosses, politicians, campaign contributors... you get the idea, telling them to make a play in penny stock recently issued by said contractors. THEN you need a way to gin up interest in those investments. Hence the paper. The little people buy those investments and it doesn't matter to the perps if the tunnel is ever built as long as they get to take their profits before the technical reality of building a 50-mile concrete tunnel in a peat bog in an earthquake zone sets in.
The LA Times Mirror Corporation is the second largest holder of real estate in California (the biggest is Catellus Development, for many years controlled by ChiFi's husband Richard Blum). Now recall all the tide of home building in the "Inland Empire." THAT is where the real estate crash was worst. Build it up, sell it off, watch it crash, let the taxpayer hold the bag.
It's called "pump and dump." Now recall that Eli Broad is one of the largest builders in California.
And you call this stupid? Guess who's holding the bag for the real estate crash? You are.