Posted on 08/20/2006 4:39:01 PM PDT by Cedar
BILL GATES 'CHARITY' FOUNDATION FINANCES NEWSPAPER PURCHASES
The BILL & MELINDA GATES FOUNDATION declares its noble mission is to bring "innovations in health and learning to the global community."
But the world's largest philanthropic organization also is among the organizations that collectively loaned nearly $400 million to MEDIANEWS GROUP INC. -- for the acquisition of newspapers in California and Minnesota!
"I thought this foundation was all about starving kids, not starving newspapers," mocked one Seattle insider.
MORE
The GATES FOUNDATION loaned an unspecified amount to MEDIANEWS, along with GENERAL ELECTRIC.
In April, MEDIANEWS agreed to buy four newspapers, including the SAN JOSE MERCURY NEWS and CONTRA COSTA TIMES, from MCCLATCHY CO. for $1 billion. MEDIANEWS also bought California's MONTEREY COUNTY HERALD and the ST. PAUL PIONEER PRESS in Minnesota. It also own the DENVER POST.
The move into funding media acquisitions was unusual for the BILL & MELINDA GATES FOUNDATION, whose donations usually go to health and anti-poverty purposes.
In June, financier Warren Buffett announced he would donate an estimated $31 billion to the GATES FOUNDATION, bringing its total endowment to more than $60 billion -- which could easily save every newspaper in America!
Developing...
The money would be better spent given to the Home for Wayward Girls - Bill Clinton's favorite charity.
Gates-MediaNews' success against the Clinton-Burkle-Yucaipa mob probably means union job cuts as opposed to squandering Dem $$$ vainly trying to keep fishwrap viable. Either outcome seems like a win-win for conservatives.
Besides skimming millions off the top of government & union pension funds it seems the Clinton-Burkle-Yucaipa mob may also accept bribes from foreigners.
More Financial Influence At Chez Clinton (Updates)
. . .
The arrangement between the billionaire and the former president -- and hopeful presidential spouse -- allows Burkle to stuff tens of millions of dollars into the bank accounts of the Clintons in return for no significant work on behalf of the fund itself.
. . .
It might turn out that the Emir of Dubai has funneled millions in income to the Clintons through billionaire Ron Burkle and the Yucaipa Corporation.
Employees Raise Concerns About MediaNews Takeover
An official for the labor union representing about 600 workers at the San Jose and Monterey papers remained hopeful government regulators will block MediaNews' takeover to prevent too many newspapers from falling under the same ownership.
"We haven't given up yet," said Luther Jackson, executive officer for the San Jose Newspaper Guild/CWA Local 39098. "All the people we talk to in these communities want more news, not less."
California Attorney General Bill Lockyer already has signaled he intends to examine the deal to make sure readers and advertisers aren't hurt by the planned takeover.
Citing Singleton's cost-cutting history, Jackson predicted MediaNews will try to boost its profits by jettisoning some of the reporters, photographers and editors that perform similar duties at its Bay Area papers.
In a meeting with the Mercury News' staff late Wednesday, Singleton told employees any decision to cut jobs would be left to the local management teams, according to a reporter who attended the session.
For newsroom staff, Singleton's reputation is fearsome. Reporters at the Long Beach Press-Telegram recalled getting 15 minutes to reinterview for their jobs after he bought the paper in 1997. Feature writer Debbie Arrington told the Los Angeles Times that some older staffers "felt like they were being sent to the glue factory."
After acquiring the Oakland Tribune in 1992, Singleton reportedly cut most of the paper's 600 jobs. And after paying about $150 million for the Houston Post, Singleton closed it in 1995, putting more than 1,000 people out of work.
With no family pot of money and not much of a track record, Singleton has been buying newspapers since his 20s, earning an early reputation for being a cost cutter and taking on papers other people didn't want.
bump
Just today I was going back through a very good Boston Globe series on these corrupt "hobby charities" for the rich.
"to prevent too many newspapers from falling under the same ownership."
This is my concern too. I'm so tired of liberal newspapers.
The internet has helped to counter-attack. But still many people are influenced by the newspapers.
And racists.
The Gates Millennium Scholarships go to anyone who is "... African American, American Indian/Alaska Native, Asian Pacific Islander American or Hispanic American." In other words, the only people excluded are those whose ancestors were from Europe, or who is white. If your ancestors were from any other continenet or you are anything other than white, you are eligible.
ping
This is impossible. You mean FreeRepublic got scooped?
I posted this in Extended News, not Breaking news.
But I did think Drudge had the scoop by his "developing" comment.
What a joke. Charity, eh? Yeah, I guess if charity means liberal editorial boards.
BTTT
Not necessarily. Internationalists have been using our newspapers to socially engineer America for some time now.
It seems they went bust trying to do the job, because most of us don't want to buy their unAmerican rags. Mr. Gates is just infusing another fortune into them, so they can continue their assault on America and American culture.
ping
Yep. ...Thanks.
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