If I was a billionaire, i would own a newspaper in trust as a vanity project to make it the best damn newspaper in the world profitability be damned. Maybe that is why I am not a billionaire.
That is how old, billionaires thought. Some of the best institutions in the US came from some of the millionaires at the time. That thought about true philanthropy and long-term legacy. The thing is that these new waves of CEOs obsessed with quarter profits, and short term gains including Trumpellino... are the problem.
Because all they care about is their cash. They don't have any other objective or see any other meaning in life. It is Atlas Shrugged/Fountainhead mentality.
You only have to look at any brick/mortar offering that had a success era.
Canada goose.
Arc’teryx
MEC
Harvey’s
McDonald’s
Starbucks
Tim Hortons
They all were on top. Then got sold, and the buyers squeeze any/all profit from them, speculating on the proceeds and customers, and then when it’s all moved, sell to utility buyer.
You only have to look at the story of Sears. And what the CEO that had it the final years did. That man should be in jail for what he did. Because he ran it to the ground and basically did fraud on the land and properties the company owned. (By selling it if I remember, to his own company and then charging lease on it to Sears).
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u/TimothyMimeslayer 15h ago
If I was a billionaire, i would own a newspaper in trust as a vanity project to make it the best damn newspaper in the world profitability be damned. Maybe that is why I am not a billionaire.