You are probably interested, like me, on a human interest level. I don't mind seeing personalities of all sorts trying to overcome new challenges. Good on her for having a go, whatever her motives, I am sure the ride will be an interesting one to watch. I am sure she knows at least what a great challenge it will be, I agree with you that she isn't stupid enough to not realise that much.Leaving aside your first paragraph, that's a sensible and logical post.
Great points. I agree.
Still think she could bring considerable expertise and skill to the ailing Fairfax, but hell, I don't really care.
I'm not a reader of their products and am not a shareholder.
If Rinehart gets her way it will improve, if she dumps the shares it's finished.
The people in there arent good enough by a long shot.
If she dumped now, FXJ would be just one week away from administration.
gg
And she could do just that, my information is that things arent exactly on the level in there.
Jeez Burnsie,
I don't need to hear this, I have a provisional order in on Monday open for 20
Please expand.
gg
I dont get how Gina purchasing Fairfax can automatically change its fortunes as it seems some predict ? Her quest to control fairfax is possibly about power or reach not money as she makes money from mining and obvioulsy she has a personal political leaning agenda.
I guess you could take some solace from corporations law that a board member must act in the best interests of all shareholders.
It matters not who owns fairfax it wont all of a sudden inspire people to buy printed text - the board screwed up by not embracing digital media over a decade ago - all that being said Fairfax has potential as a punt perhaps ? And if they started charging for digital papers would many buy considering the enormous amount of free content available ?
Certainly the board has realised the monumental errors of judgement in the past and must be working on strategies for the future I just cant put my finger on how Ginas foray into this industry can be measurably more positive.
What would actually happen if Gina dumped her ~19% stake in Fairfax? Obviously a huge over supply and a marked drop, but would it spike up again as buyers come back in at 'discount' prices?
Her reasoning in dumping would also play a part, if its known it was for political reasons rather than business would that inspire more confidence?
Mining billionaire Gina Rinehart has asked the chairman of Fairfax Media to resign if he cannot reverse falling circulation and revenue at the company's newspapers.
In an open letter to Roger Corbett, Ms Rinehart asked him to step down by November if a number of performance milestones had not been met.
Ms Rinehart is the largest single Fairfax investor with nearly 19 per cent of the company's shares.
In her letter to Mr Corbett, Ms Rinehart said the performance of Fairfax Media over the past five years had been distressing for shareholders.
She called for the Fairfax share price to rise from current levels of 55 cents to 87 cents before November's annual general meeting.
"Shareholders should at the very least be advised what the loss target is, and be assured that should you not meet that target, there would be light at the end of tunnel," the letter said.
"And, if the five-year decline in paid circulation and in revenue of Fairfax mastheads do not reverse prior to the 2012 AGM, we ask that you tender your resignation at that meeting."
I think she's trying to be Packer!Mining billionaire Gina Rinehart has asked the chairman of Fairfax Media to resign if he cannot reverse falling circulation and revenue at the company's newspapers.
Not to mention the Teachers, when they're not on strike.http://blogs.news.com.au/heraldsun/andrewbolt/
[Martin] Flanagan [The Age] trembles:
Any national media reflects the national mind. Within a few years, we could have a national mind dominated by Rupert Murdoch, Gina Rinehart, talkback radio hosts and tabloid newspaper columnists..
..But trust me: with the Left still dominant in the ABC, SBS, Australia Council, universities, Fairfax, publically-funded think-tanks, journalist union, Canberra press gallery, Anglican bishops’ conventions, writers festivals and, indeed, even the newrooms of most of the papers and TV stations owned by wicked Right-wing oligarchs, you’ve got such a head start, that you’d have to be pretty bad to lose it from here....
It's an unprofitable, unaccountable, sheltered workshop, patrolled by thought police. Go Gina.
I wonder if has occurred to the illuminati at Fairfax, that their hysteria over Gina Rinehart's supposed hijacking of editorial policy is tantamount to an admission that editorial bias is possible.
Where is the evidence of their claims against her? They are in effect calling her a liar.
It's an unprofitable, unaccountable, sheltered workshop, patrolled by thought police. Go Gina.
+1 to both above.Bon mots from Bolt. Even with a (hypothetically) balanced Fairfax, the Left are still way ahead.
Not to mention the Teachers, when they're not on strike.
"If Mrs Rinehart wants control of Fairfax Media she must make a bid," the letter said. "Mrs Rinehart's letter today has once and for all unmasked her motives for her continual attacks on the company and its board.
"Our readers are telling us that if Mrs Rinehart succeeds in this personal crusade they will abandon us. We have tens of thousands of letters and emails of support."
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