Heralding The Tribune Jinks

Hot or Not / Editor / 09 December 2008 / Leave a comment

LESS than six hours after Anorak pointed out that the Tribune Group only had themselves to blame for the inevitable consequences of the lunatically leveraged $13 billion buy-out last year, they filed for bankruptcy.

I repeat, if their financial journos had known what they were doing, they would have realised that the financial markets were f*cked, and that no-one in their right minds would borrow massive sums to buy out something which couldn't make decent profits even without huge interest costs.

Maybe they succumbed to the orgasmic lure of the 'discipline of debt' mantra?

Or maybe they were just stupid.