Carlos Slim to buy 17% in NY Times

[RSLudlum]

NY Times meets South of the Border Tycoon ;)



New York Times offers prestige to Mexican billionaire looking to expand into US marketBy JULIE WATSON | Associated Press Writer
12:02 AM EST, January 20, 2009

MEXICO CITY (AP) — A Latin American billionaire looks to expand his empire in the United States in a deal that could make him the largest shareholder of The New York Times Co.

The $250 million investment by Mexican tycoon Carlos Slim could provide some synergies with his telecommunications holdings in Latin America, analysts say.

Perhaps more importantly, Slim, reputed to be the world's second-richest man, would gain the prestige of owning one of the world's best-known and most influential newspapers.

"By having a stake in the New York Times, he's basically projecting himself as a powerbroker in this country, regardless of how his investment does," said Armand Peschard-Sverdrup, a senior associate of the Center For Strategic and International Studies, a Washington think tank


rest of article here (http://www.newsday.com/news/nationworld/world/wire/sns-ap-ny-times-slim,0,3691217.story)

[libertarian4321]

Slim has made some great investments in the past, but I don't think this is one of them. Newspapers are dying out- unless the Times owns some other valuable property, this doesn't seem like a good move.

[FrankRep]

What's the story on this guy?

[libertarian4321]

What's the story on this guy?

He's rich. Really rich. He's made timely investments all around the world. This is a pretty small deal for him.

[FrankRep]

He's rich. Really rich. He's made timely investments all around the world. This is a pretty small deal for him.

What's his politics? Since he'll be helping people know what to think.

[danberkeley]

What's his politics? Since he'll be helping people know what to think.

Mexican politics. Probably worse than American politics.

[Primbs]

Carlos has a history of even closing down profitable companies. Compusa was returning one percent on his investment. He shut the company down took the money and probably put it into CD that pay 4 percent.

http://vivirlatino.com/2007/12/10/carlos-slims-compusa-folds.php

[tmosley]

To be fair, CompUSA was a terrible store.

[libertarian4321]

Carlos has a history of even closing down profitable companies. Compusa was returning one percent on his investment. He shut the company down took the money and probably put it into CD that pay 4 percent.

http://vivirlatino.com/2007/12/10/carlos-slims-compusa-folds.php

Compusa wasn't profitable (if it was, he would have sold it, rather than liquidating it), and Slim probably lost money in that investment.

You generally don't make money by selling to a liquidator.

[Chosen]

New York Times-The Overt Mexican Propaganda Rag. (http://aztlandestroyer.com/voice/?p=175)

[libertarian4321]

New York Times-The Overt Mexican Propaganda Rag. (http://aztlandestroyer.com/voice/?p=175)

I've seen no evidence to support the assertions of this blogger.

Slim seems to be focused on making money, and lots of it- he's one of the most successful capitalists of all time. His father was a successful small businessman (storeowner) who sent his son to college for engineering.

Its even more unlikely that he's dedicated to a Mexican takeover of the USA given that he isn't even hispanic- he's an Arab- the son of Lebanese immigrants. His father's name was Youssef Salim- which they changed to "Slim" upon emigrating. His wife was also a Lebanese immigrant.

In recent years, he's been spending more time on philanthropy- mostly trying to improve Mexico and South America by funding hundreds of thousands of college scholarships and giving money to schools and universities. Hardly the kind of thing a guy would do if he wanted to flood the USA with immigrants and "take over."