Skip to comments.LA billionaire Hints At Purchasing LA Times [Like NY Times, Another Liberal Billionaire Owner?]
Posted on 05/04/2012 7:35:18 PM PDT by Steelfish
LA billionaire Hints At Purchasing LA Times Saturday, May 05, 2012
LOS ANGELES (KABC) -- Los Angeles' leading philanthropist, billionaire Eli Broad, who has just written a book, shares the secrets of his success and hints at possibly buying the Los Angeles Times.
He visited the construction site of what could become his personal crown jewel on Grand Avenue: The Broad, a new contemporary art museum for his vast collection, and it could potentially be another architectural landmark downtown.
"Grand Avenue is the new cultural and civic region of the whole district of 15 million people," he said.
In "The Art of Being Unreasonable: Lessons in Unconventional Thinking," Broad writes about his reasons for giving back, and he describes how being unreasonable - rejecting conventional thinking - led to his success in business.
He's joined the pledge to give away his billions not only to the arts, but education, medical research and more.
And more could mean another effort get the L.A. Times back into local ownership. In his book, he predicts the Times will be sold with Tribune's bankruptcy.
"I think the L.A. Times ought to be owned by people in Los Angeles, whether it's wealthy families or foundations or some combination, and at some point it's going to be offered. I don't know when, and I hope it does end up with responsible, local ownership," Broad said.
(Excerpt) Read more at abclocal.go.com ...
Let me guess - the billionaire Eli Broad likes to put on a baseball cap and pretend he understands ‘workers’...
Broad has been talking about this purchase for years....never does : )
Let him through away his billions ...
He won’t have to change anything
Oh good. Now I won’t run out of poopy tray lining for my puppy!
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...
Couldn't say for sure. What I am certain of is that liberal plutocrats are more supportive of liberal causes than conservative plutocrats are of conservative causes. This is why liberals have dozens of think tanks and thousands of newspapers devoted to their cause whereas conservatives are always marginalized. The average conservative plutocrat merely wants to look out for Number 1, whereas the average liberal plutocrat wants fund liberal causes. And that is why, in the long run, we are doomed.
For once, I’d like to hear about a billionaire buying a major media outlet that wants his/her employees to pursue the truth, no matter what apple cart gets turned over (and lives by it).
Guess he wants to be a Millionaire. . . .
Posturing on 'giving more' to the government is a way of asserting their superiority over those who struggle to pay the tax man. It's also a great way to knock people off the ladder striving to get ahead... 'You can have more - or you can make others have less - each is considered a win'.
Any of these liberal elites could write a check to Uncle Sam - or just not hire 'the best, the very best' CPA's to do their taxes. Neither is going to happen.
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.