The world of journalism has been rocked by a series of high-profile, low-price acquisitions over the past few days. First, the New York Times sold the Boston Globe to Red Sox owner John Henry for $70 million... a tiny fraction of the $1.4 billion they paid for the Globe and related properties just ten years ago. And the Times is still stuck with paying off $100 million in pension commitments! Then Amazon.com CEO Jeff Bezos bought the Washington Post for a mere $250 million. That's a bargain price, but at least it's higher than the simple real-estate value of the Post offices, unlike the Boston Globe sale.
President Obama once again broke the law to modify ObamaCare, granting a priceless waiver to Congress, which claims it cannot operate under the law it imposed on the American private sector. The willingness of the American people, and our elected representatives, to tolerate such flagrant defiance of the Constitution is almost as depressing as the public's apparent acceptance of special privileges for the ruling class. If the Republicans can't successfully run against the ongoing ObamaCare disaster in 2014 and 2016, then either the GOP, or the American electorate, has passed its expiration date.
John Hayward
Senior Writer
