Tuesday, May 01, 2007
Update - at 1:20pm, the stock is up $18.92 to $57.25.
Update2 - here's a good blog link to the Big Picture, a capable market commentary blog, on the bid and intelligent speculation about potential rival interest from GE.
Good God...Rupert Murdoch, the mother hen of Fox News, making a run at and then owning Dow Jones? Perfect allegory for everything that is stellar andeverything that vile about America. Can't decide to whether to marvel and goose-pimple or urinate in my shorts. Either way I guess the intellectual level of shows other than House on Fox, and of the Hannity Network, can't decline any lower than it is as he struggles to pay the debt service on whatever instruments he's using to fund this candy store binge...
I've always felt that a purchase of shares on the short end vote-wise in a dual-class stock company was exactly like what Mencken said of second marriages - "a triumph of hope over experience". Based on the outrageous and predictable news that members of the Bancroft family holding a majority of the outstanding shares intend to vote against the News Company offer, my judgement is vindicated once again. One has to be an utter sap to hold this paper.