May 7, 2007
News Corp Bid: Another No, thanks
We're hearing more and more praise for the Bancroft Family's rejection of the News Corp bid for Dow Jones— a word of thanks from people all across the country— inside Dow Jones and out— from reporters in Kansas to stockbrokers in New York to a short-order cook in San Francisco.
I thought you might like to see at least one man's opinion of what's a stake: a political cartoon by Ben Sargent in the American-Statesman from Austin, Texas.
And for those who might think this is just an issue for reporters, please think again. In his interview in the New York Times May 4, 2007, Rupert Murdoch is quoted as saying, "We're not coming in with a bunch of cost-cutters," but adding: "I'm not saying it's going to be a holiday camp for everybody."
By saying it's not going to be a "holiday camp" he seems to suggest he thinks that's what we have now.
Holiday Camp? A management team that wants to triple the cost of health care, quadruple drug co-pays, eliminate cost-of-living protection and impose 2.5% wage hikes. I don't think so.
This a fight for all of us. And that fact is demonstrated by long-time Dow Jones Chairman and CEO Peter Kann and the Washington Post. com comments of Jim Ottaway, jr., former chairman of Dow Jones' Ottaway Newspapers and Dow Jones senior vice president. He retired in April 2006 from the Dow Jones board after 17 years as a director. He owns or has voting power over 6.2 percent of Dow Jones Class B supervoting shares.
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Steve Yount
President
IAPE CWA 1096