[quote]News Corp (NWSA.O) shareholders on Friday quizzed Chief Executive Rupert Murdoch and his fellow directors over the process by which the company ma..."/>
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REAL WORLD EVENT DISCUSSIONS
Murdoch strikes again
Sunday, October 17, 2010 10:54 AM
NIKI2
Gettin' old, but still a hippie at heart...
Quote:News Corp (NWSA.O) shareholders on Friday quizzed Chief Executive Rupert Murdoch and his fellow directors over the process by which the company makes donations to political organizations. The directors faced several questions at the company's annual general meeting from individual shareholders and shareholder activists about a recent decision to donate $1 million each to the Republican Governors Association and U.S. Chamber of Commerce. The gifts are being made in the run-up to U.S. congressional mid-term elections on Nov 2. Murdoch said he and the board believed the donation was made in the "best interest of the company." "We believe it is in the interest of the company and the country that there be a fair amount of change in Washington, D.C.," he said. Shareholder activist groups including The Nathan Cummings Foundation have criticized the recent donations. In a letter to the board on Oct. 11 the foundation said the decision was "troubling". "The issue of corporate political spending is particularly sensitive for media companies given the public's expectation that they provide objective news coverage," the letter said Murdoch also said the decision had "nothing to do with the editorial or journalism of the company." While he accepted the size of the gifts was "unusual," he said it was unlikely to be repeated. Rod Eddington, who is News Corp's lead director, said he understood the concerns about a need for transparency and that the decision to make the donations only came after the board took advice from management. News Corp's influence in politics in the United States and the United Kingdom through its media outlets has often been a controversial issue with many of Murdoch's adversaries. His bid to buy back the 61 percent of UK satellite TV provider BSkyB (BSY.L) News Corp doesn't already own is currently being challenged by rival media companies. They are calling on the British government to review the bid because they said it would give News Corp too much dominance in the UK media landscape. The UK tabloid Daily Mirror reported on Friday that Murdoch had met with British Prime Minister David Cameron for 45 minutes just 24 hours after the Conservative Party leader took office in May.
Quote:Murdoch also indicated that shareholders would not be engaged in selecting recipients of donations, and that if shareholders disagreed with directors' decisions, "you have the right to vote us off the board." When asked specifically about his widely reported comment that News Corp.'s donation to the RGA was a result of his friendship with former Fox News employee and current GOP gubernatorial candidate John Kasich, Murdoch said "I didn't say it had nothing to do with News. Corp. I did make a foolish throwaway line saying -- I was trying to -- candidate Kasich who used to work for us for a number of years." Eddington told a representative from the Nathan Cummings Foundation -- which sent a letter to the board of directors earlier this week calling for full disclosure of News Corp.'s political contributions -- that their proposal would be reviewed and that News Corp. would "act expeditiously."Quote:MLP STOCKHOLDER: And regarding the potential reputational risk for giving such a sizeable contribution to the U.S. Chamber, which is involved in multiple scandals right now? MURDOCH: There are no scandals, there are only allegations, and you should not be stating that as fact. MLP STOCKHOLDER: The scandals are a fact. I mean, they're being played out in the headlines every day, so -- MURDOCH: No, any allegations, I'm sorry. MLP STOCKHOLDER: If it's playing out in the headlines, I would argue that that is in fact a scandal, and I'd just, all I would really like to know is what the board's process is in weighing the reputational risk involved. I take your point about the Wall Street Journal piece today, and I welcome that news, but I would like to know how the board evaluated the reputational risk there. .... It's particularly troubling to shareholders that, in particular, the U.S. Chamber contribution was only learned of by shareholders because of a leak to the press. Would the board consider much broader disclosure around shareholder -- around political spending? MURDOCH: We've considered it from time to time. I don't believe we'll [inaudible] it again, but we'll see. MLP STOCKHOLDER: Would you be willing to engage shareholders in that process? MURDOCH: No. Sorry, you have the right to vote us off the board if you don't like that.
Quote:MLP STOCKHOLDER: And regarding the potential reputational risk for giving such a sizeable contribution to the U.S. Chamber, which is involved in multiple scandals right now? MURDOCH: There are no scandals, there are only allegations, and you should not be stating that as fact. MLP STOCKHOLDER: The scandals are a fact. I mean, they're being played out in the headlines every day, so -- MURDOCH: No, any allegations, I'm sorry. MLP STOCKHOLDER: If it's playing out in the headlines, I would argue that that is in fact a scandal, and I'd just, all I would really like to know is what the board's process is in weighing the reputational risk involved. I take your point about the Wall Street Journal piece today, and I welcome that news, but I would like to know how the board evaluated the reputational risk there. .... It's particularly troubling to shareholders that, in particular, the U.S. Chamber contribution was only learned of by shareholders because of a leak to the press. Would the board consider much broader disclosure around shareholder -- around political spending? MURDOCH: We've considered it from time to time. I don't believe we'll [inaudible] it again, but we'll see. MLP STOCKHOLDER: Would you be willing to engage shareholders in that process? MURDOCH: No. Sorry, you have the right to vote us off the board if you don't like that.
Sunday, October 17, 2010 12:43 PM
WHOZIT
Quote:Originally posted by Niki2: Quote:News Corp (NWSA.O) shareholders on Friday quizzed Chief Executive Rupert Murdoch and his fellow directors over the process by which the company makes donations to political organizations. The directors faced several questions at the company's annual general meeting from individual shareholders and shareholder activists about a recent decision to donate $1 million each to the Republican Governors Association and U.S. Chamber of Commerce. The gifts are being made in the run-up to U.S. congressional mid-term elections on Nov 2. Murdoch said he and the board believed the donation was made in the "best interest of the company." "We believe it is in the interest of the company and the country that there be a fair amount of change in Washington, D.C.," he said. Shareholder activist groups including The Nathan Cummings Foundation have criticized the recent donations. In a letter to the board on Oct. 11 the foundation said the decision was "troubling". "The issue of corporate political spending is particularly sensitive for media companies given the public's expectation that they provide objective news coverage," the letter said Murdoch also said the decision had "nothing to do with the editorial or journalism of the company." While he accepted the size of the gifts was "unusual," he said it was unlikely to be repeated. Rod Eddington, who is News Corp's lead director, said he understood the concerns about a need for transparency and that the decision to make the donations only came after the board took advice from management. News Corp's influence in politics in the United States and the United Kingdom through its media outlets has often been a controversial issue with many of Murdoch's adversaries. His bid to buy back the 61 percent of UK satellite TV provider BSkyB (BSY.L) News Corp doesn't already own is currently being challenged by rival media companies. They are calling on the British government to review the bid because they said it would give News Corp too much dominance in the UK media landscape. The UK tabloid Daily Mirror reported on Friday that Murdoch had met with British Prime Minister David Cameron for 45 minutes just 24 hours after the Conservative Party leader took office in May. http://www.reuters.com/article/idUSN1519690120101015 Quote:Murdoch also indicated that shareholders would not be engaged in selecting recipients of donations, and that if shareholders disagreed with directors' decisions, "you have the right to vote us off the board." When asked specifically about his widely reported comment that News Corp.'s donation to the RGA was a result of his friendship with former Fox News employee and current GOP gubernatorial candidate John Kasich, Murdoch said "I didn't say it had nothing to do with News. Corp. I did make a foolish throwaway line saying -- I was trying to -- candidate Kasich who used to work for us for a number of years." Eddington told a representative from the Nathan Cummings Foundation -- which sent a letter to the board of directors earlier this week calling for full disclosure of News Corp.'s political contributions -- that their proposal would be reviewed and that News Corp. would "act expeditiously."Quote:MLP STOCKHOLDER: And regarding the potential reputational risk for giving such a sizeable contribution to the U.S. Chamber, which is involved in multiple scandals right now? MURDOCH: There are no scandals, there are only allegations, and you should not be stating that as fact. MLP STOCKHOLDER: The scandals are a fact. I mean, they're being played out in the headlines every day, so -- MURDOCH: No, any allegations, I'm sorry. MLP STOCKHOLDER: If it's playing out in the headlines, I would argue that that is in fact a scandal, and I'd just, all I would really like to know is what the board's process is in weighing the reputational risk involved. I take your point about the Wall Street Journal piece today, and I welcome that news, but I would like to know how the board evaluated the reputational risk there. .... It's particularly troubling to shareholders that, in particular, the U.S. Chamber contribution was only learned of by shareholders because of a leak to the press. Would the board consider much broader disclosure around shareholder -- around political spending? MURDOCH: We've considered it from time to time. I don't believe we'll [inaudible] it again, but we'll see. MLP STOCKHOLDER: Would you be willing to engage shareholders in that process? MURDOCH: No. Sorry, you have the right to vote us off the board if you don't like that.Ahhh, dictatorship, ain't it wonderful? Hey, hey, hey, "fair and balanced", never doubt it. Of COURSE there are no scandals...it's only a scandal if you can prove it beyond a reasonable doubt. Just like Kennedy and Marilyn Monroe...they never proved it, so of COURSE it wasn't a scandal! Hippie Operative Nikovich Nikita Nicovna Talibani, Contracted Agent of Veritas Oilspillus, code name “Nike”, signing off
Sunday, October 17, 2010 1:57 PM
MAGONSDAUGHTER
Sunday, October 17, 2010 4:15 PM
FREMDFIRMA
Monday, October 18, 2010 3:52 AM
GEEZER
Keep the Shiny side up
Quote:Originally posted by whozit: ....and Barry got mega bucks from Wall Street big shots and George Soros.
Monday, October 18, 2010 5:39 AM
Monday, October 18, 2010 3:50 PM
DREAMTROVE
Monday, October 18, 2010 4:34 PM
Monday, October 18, 2010 8:51 PM
Tuesday, October 19, 2010 6:29 AM
Tuesday, October 19, 2010 10:41 AM
Tuesday, October 19, 2010 11:09 AM
PIRATENEWS
John Lee, conspiracy therapist at Hollywood award-winner History Channel-mocked SNL-spoofed PirateNew.org wooHOO!!!!!!
Tuesday, October 19, 2010 2:11 PM
Tuesday, October 19, 2010 2:41 PM
Quote:Originally posted by Magonsdaughter: Out of curiosity, Frem, do you feel that way also about the constitution? You didn't consent to those rules? NB Really just curious here, not wanting to start a flame war or be rude.
Quote:I, (NAME), do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; and that I will obey the orders of the President of the United States and the orders of the officers appointed over me, according to regulations and the Uniform Code of Military Justice. So help me God.
Wednesday, October 20, 2010 4:17 AM
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