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April 5, 2012 01:39 AM
Audit Notes: Shareholder Revolution Edition
This AlterNet piece finds some revealing quotes from the Business Roundtable that show how that influential group's views on who business is supposed to serve shifted after the shareholder revolution (and the Reagan revolution). Here's what it said in 1981: Balancing the shareholder’s expectations of maximum return against other priorities is one of the fundamental problems confronting corporate management. The...
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June 1, 2012 01:31 PM
Responding to Shirky on the Washington Post
Transformation is required, and transformation takes investment
Thanks to Clay Shirky for responding to my piece on the financialization of the Washington Post Company, which during the financial crisis has handed more than a billion dollars back to shareholders via dividends and share buybacks while its newspaper crumbles. I've got a couple of thoughts in response. First, it's seriously good news to see an Internet thinker like...
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May 11, 2012 06:10 AM
The Washington Post Co.’s Self-Destructive Course
Dividends, share buybacks, and an anti-paywall stance help bleed the paper dry
The Washington Post Company‘s dismal quarterly earnings release last week was received with something of a shrug—more of the same. But the report is worse than the reaction suggests and raises fundamental questions about the Post's strategy, not just for the newspaper, but for the whole company. If you hadn’t heard, the Washington Post Company is basically a for-profit college/SAT-prep...
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