Slim hopes; Newspapers in America.(Carlos Slim)

From: The Economist (US) | Date: September 20, 2008 | Copyright information

A billionaire makes a surprising investment in the New York Times

IT SAYS a lot about the mood in American business today that an investment by a Mexican tycoon in the New York Times is widely regarded as good news. The realisation that beggars cannot be choosers has weakened the usual protectionist impulses, at least in the case of the recent purchase of 6.4% of the Gray Lady by Carlos Slim. Instead of bashing the Mexican telecoms billionaire for buying a piece of a great American institution, there has been relief that such a shrewd businessman is prepared to give a vote of ...

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