Sunday, September 14, 2008

Couldn't Pass This Up

It's a delicious development that Mexico's wealthiest man, Carlos Slim Helu, now owns 6.5 percent of the venerable New York Times, and holds the third largest stake in the newspaper company. No word yet on what Slim intends to do with his stake, but rest assured people must be nervous.

I guess America couldn't build the tortilla curtain fast enough!

Slim is worth $60 billion, and is considered the world's second richest man. He acquired his wealth through lucrative telephone and wireless market investments. In Mexico, if you want to make a phone call, Slim has a hand in it. Before Slim's purchase of NY Ttimes' shares, the newspaper said, "It’s hard for a Mexican to spend a day without handing him some money."

Now, each time we plunk down money on the NY Times, we'll be generating profit for Slim, too.

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