Greenwich Hedge Fund Guys Get Away With Murder, Because The Local Hearst Newspapers Are In A Self Induced Coma
Now That Greenwich Time Editor David McCumber Has Fired Investigative Reporter Teri Buhl, Town Residents Must Once Again Get Their Business News From Out Of Town News Organizations.
Will Faux News Reporter Charlie "Douche Bag" Gasparino Come To Town And Scoop The Greenwich Time Now That He Got David McCumber To Fire Teri Buhl?
But Wait A Minute, Charlie Gasparino Was Reporting On Greenwich Resident Dick Fuld Last Thursday !!!!
In Fact, The Douch Bag Is Soon Going To Get An Award At The Greench Hyatt Regency In Old Greenwich.
It Is Rumored That Charlie Gasparino Is Going To Make A Side Trip The Greenwich Time Office In Riverside And Personally Thank David McCumber For Eliminating His Competition.
It Looks Like Greenwich Time Business Editor Jim Zebora Missed Yet Another Local Hedge Fund Story ....
Paulson's $32 Billion Funds Prompt Too-Big-to-Succeed Concerns
BusinessWeek
John Paulson started the year overseeing $32 billion in hedge funds, third in the world behind JPMorgan Chase & Co. and Bridgewater Associates LP. Unlike many of his biggest rivals, he’s taking in new cash, raising the question of how much money is too much for a hedge-fund manager.....
.....“There is a point where you can be too big to generate returns,” said Lawrence P. Chiarello, a partner at Red Bank, New Jersey-based SkyView Investment Advisors LLC, which selects hedge funds for clients. “Being large and able to build a strong infrastructure are good things, but in general I think the pendulum has swung too far.”
The size at which a fund may become too big depends on factors such as its investment strategy and the markets in which it trades.....
... Paul Jones’s Tudor Investment Corp. has stopped taking money into its $9.5 billion BVI Global Fund Ltd. Jones also returned some of 2009 profits in the Greenwich, Connecticut- based fund to clients this year as another way to cap returns.
Chris Shumway, who runs Greenwich, Connecticut-based Shumway Capital Partners LLC, a stock hedge fund, isn’t accepting more money after reaching $8 billion. New York-based King Street Capital Management LP, a credit fund, told investors it would “moderate” growth now that it has more than $20 billion, according to a letter sent to investors. ...
COMMENT:
Would The Hearst Newspaper Editor Rex Smith Let The Albany Times Union Ignore New York State House?
Would The Hearst Newspaper Editor, Jeff "Cowboy" Cohen, Of The Houston Chronicle Let A Bunch Of Carpet Bagging New York Reporters Dominate Oil Industry News Coverage?
Hell No, Boy !!!!
Local Houston Reporters Cover The Oil Industry For Local Huston Executives
The Hearst Newspaper In Houston Is All Over The Local Oil Indusry
Crappy Reporting - Higher Ad Rates
When Greenwich Roundup asked a Hearst Corporation Employee at the New York headquarters about the company's long-range plans for the Greenwich Time, he was told that any details about the newspapers future are "confidential" and the company declined to provide Greenwich Roundup with interviews with senior executives.
Still, there are plenty of clues to Hearst's strategy for its newspapers, and all appear to point in the same direction: Boost profit by eliminating the competition and controlling the market.
That's the pattern that emerges from federal and private investigations of its operations in other cities.
In San Antonio, for example, Hearst quietly cut a deal in 1992 to purchase Rupert Murdoch's San Antonio Express-News for $185 million. Three months later, it shut its own paper, the San Antonio Light, firing the Light's 650 employees.
A year later, Hearst boosted the News-Express daily ad rate by 41 percent and its Sunday rate by 50 percent, according to Editor & Publisher Yearbook, an industry publication.
In Houston, Hearst secretly negotiated the $120 million purchase of the Houston Post's assets in late 1994. Without disclosing the Hearst deal, Post owner William Dean Singleton then publicly announced he was conducting a search for a buyer. Six months later, he shut the Post, saying no buyer could be found, and said the paper's assets were being sold to Hearst, which owned the competing Houston Chronicle. Hearst raised the Chronicle's daily and Sunday ad rate the next year by 62 percent, according to E&P.
In San Francisco, Hearst bought the San Francisco Chronicle for $600 million in 2000, then paid a local publisher $66 million to take Hearst's flagship paper, the Examiner, and essentially gut it.In 2003, E&P said, ad rates at the Chronicle had risen by 11 percent.
Hearst's competitive tactics have touched off several Justice Department investigations into its newspaper operations around the country. So far, none has accused the company of any wrongdoing.
In 2000, a federal judge in San Francisco criticized Hearst's efforts to close the Examiner but said evidence showed the paper was "a failing company" and could be shut under federal antitrust laws.
Hearst is, of course, no stranger to controversy. But the company, now controlled by heirs of the legendary William Randolph Hearst, maintains a determined low profile.
The Hearst Family Trust, representing 61 direct Hearst descendants, runs Hearst's worldwide media and real-estate empire.
The Greenwich Time has been turned into a vapor paper by Hearst Corporation.
The Greenwich Time has no presses, no delivery trucks, no staff and only a has a temporary lease on the newspaper's rented office in Riverside.
How long will it be till the money losing Greenwich Time becomes a weekly supplement to the profitable Connecticut Post.
Today's Blood Sucking Hearst Newspaper Quote:
"We must continue to ask readers to pay more for their subscriptions. Our print subscribers don’t pay us enough today that we can say they are actually paying for content. Rather, we only ask readers to pay for a portion of the cost of printing the paper on newsprint and delivering it to the reader’s doorstep. We must gradually, but persistently, change this practice. We ask our readers to pay for their subscriptions on the Kindle today, and we must begin doing the same thing on the iPhone and other advanced smart phones and reading devices."
- Steven "Sick It Them" Swartz, Hearst Newspaper President
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