For the record . . . Hedge funds don't care about ANYTHING but profits.
Overall . . . The hedge fund purchase of McClatchy media group seems like an attempt to gauge the value of the sector, hold until further consolidation takes place and then sell off some of the most valuable assets at a substantial markup . . . That's the pure capitalism play.
There's also a conspiracy theory which claims that financial interests seek to silence the free press.
Pick whichever option makes you happy . . . Most broke-ass plebs don't have a say in the outcome either way.
Meanwhile, the ethical questions confronting the newspaper honcho are much more interesting and relevant to the local discourse . . .
"If he manages to avoid getting placed on leave, there are two points to be made. First, Fannin is the the luckiest DUI guy on the face of the earth and, second, McClatchy, owned by a New Jersey hedge fund, just doesn’t care."
Read more via www.TonysKansasCity.com link . . .
I've got two things for you today -- both of the utmost urgency and importance. Let's deal with Mike Fannin, KC Star president and editor, first. As most of you know, he was arrested in Johnson County last week on suspicion of drunk driving. It was his third DUI arrest in about the last 15...