Gina Rinehart - picked up 10% and the market loved it!
It's a positive sign - stupidity is back with avengence! :silly::bloated:
Hopefully for Fairfax holders the quality of independent journalism will improve with the share price following Gina's tilt at the stock.
Presently The Age, for example, is a poor daily imitation of Green Left Weekly and needs a strong owner to restore credibility, professional journalism and readership.
FXJ holders may then be joined by other investors interested in making a quid from the stock.
gg
It's a terrifying prospect for some . . . a capitalist wants to put her money into newspapers!
There are rumours about that Gina Reinhart may be ready to increase her stake in FXJ.
I have no proof of this and no charting confirmation.
FXJ languishes at 60c.
I will watch price and volume at the open tomorrow and decide accordingly whether to follow any move up, or watch the present inexorable slide.
gg
INVESTORS are betting Gina Rinehart has upped her stake in Fairfax Media after a $25 million line of shares was traded.
Just after midday, 42 million shares changed hands at 60c a share worth $25.2 million, with sources tipping Ms Rinehart as the buyer. Another 7 million shares went through at 62c a share just after 3pm (AEST) today.
Ms Rinehart is believed to have bid for up to 20 per cent of the company indicating she could still be in the market looking to buy more stock. The sellers are said to be multiple local institutions, with the trade handled by Southern Cross Equities.
Ms Rinehart is the media company's largest shareholder, previously holding 13 per cent of the stock.
Roger Corbett is very opposed to her, so if it were me, I'd be waiting to see how her attempt comes out before sinking any money in that direction.Oops , I've just noticed its in in the Australian.
I may put a few kopeks in to FXJ in the am.
gg
Roger Corbett is very opposed to her, so if it were me, I'd be waiting to see how her attempt comes out before sinking any money in that direction.
Plus the fact that conventional media is imo on a downward slide, especially Fairfax with its woeful staff morale.
Roger Corbett is very opposed to her, so if it were me, I'd be waiting to see how her attempt comes out before sinking any money in that direction.
Plus the fact that conventional media is imo on a downward slide, especially Fairfax with its woeful staff morale.
I found it ridiculous someone who has 13% cant get a seat... She OWNS 13% of the business she entitle to a seat
Whether she is independent or against the government or what ever is another story...as a capitalist economy
someone with that much interest in a business entitle to a seat and voice how she want the company run
there are other people on there to agree and disagree with her....
I have high regard for Roger Corbett but I disagree he wont allow her a seat ....
This day is called the Feast of Crispian.
He that outlives this day and comes safe home
Will stand a-tiptoe when this day is named
And rouse him at the name of Crispian.
He that shall see this day and live t' old age
Will yearly on the vigil feast his neighbours
And say, "Tomorrow is Saint Crispian."
Then will he strip his sleeve and show his scars
And say, "These wounds I had on Crispin's day."
Old men forget; yet all shall be forgot,
But he'll remember, with advantages
What feats he did that day. Then shall our names,
Familiar in his mouth as household words ””
Harry the King, Bedford and Exeter,
Warwick and Talbot, Salisbury and Gloucester ””
Be in their flowing cups freshly remembered.
This story shall the good man teach his son,
And Crispin Crispian shall ne'er go by
From this day to the ending of the world,
But we in it shall be remembered,
We few, we happy few, we band of brothers.
For he today that sheds his blood with me
Shall be my brother; be he ne'er so vile,
This day shall gentle his condition.
And gentlemen in England now abed
Shall think themselves accursed they were not here,
And hold their manhoods cheap whiles any speaks
That fought with us upon Saint Crispin's Day.
Talk is cheap. They can say they will do all these things but so far management has shown itself to be woefully ill equipped to handle the internet and how it affects their business. I'll believe it when I see it for myself. I don't think a mining magnate or a grocer are what the board of FXJ needs.
Agreed, they are too busy in there covering their own backs, they'll never bring the right people in to do the job properly.
Well Rinehart isnt stupid is she
Great power play by Gina Rinehart. Getting editorial control of the Fairfax Press would destroy any semblance of non right wing commercial press in Oz.,
It would guarantee the next election would be a Tony Abott cakewalk with Gina Rinehart making absolutely sure the interests of the mining sector were attended to. Thats something for the Liberal party to look forward to - dealing with Ms Rineharts perception of what is good for Australia..
No? Despite the proven business experience which contrasts pretty strongly with Fairfax's stuffup?I don't think a mining magnate or a grocer are what the board of FXJ needs.
Of it might just turn a left wing organ into something representing centrist objectivity.Great power play by Gina Rinehart. Getting editorial control of the Fairfax Press would destroy any semblance of non right wing commercial press in Oz.,
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?