Sunday, August 4, 2013

Using Red Ink by the Barrel

As you may have heard, the New York Times has sold the Boston Globe for a paltry $70 million, after having acquired it in 1993 for a cool $1.1 billion (with a "B").  For the mathematically inclined this calculates out to be a mere 93% loss on the investment, not to mention that the Times had to accept the pension liability from the Globe to seal the deal.

Instapundit noted that these are the same people who would like to tell us how to run the US government, while Stacy McCain commented that "it" (the Times, the Globe or both?) should be printed with red ink.

I think it's cool that Paul Krugman talked them into carrying out such a massive, private redistribution and stimulus plan.

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