Wen Jiabao’s “hidden riches” exposed by NYT

China Premier Wen Jiabao’s “hidden riches” exposed by NYT

A recent New York Times article exposed the “hidden riches” of the family of China’s Premier Wen Jiabao. In a matter of days Wen and his lawyers were denying the details of the story. As it turns out Wen Jiabao, known as the “people’s premier”, and his family have assets totalling $2.7 billion dollars. According to the New York Times article, his family came into its wealth after Jiabao became a part of China’s political elite. Born into a “poor family” Jiabao made it part of his political agenda to be more relatable to the Chinese people. His Mother, a schoolteacher, now holds over $120 million in assets. Other family members have been financially supported…

Arthur Sulzberger a putz, says NYT reporter Don McNeil

Arthur Sulzberger a putz, says New York Times reporter Don McNeil

New York Times reporter Don McNeil ripped publisher Arthur “Pinch” Sulzberger Jr. for piloting a “ghost ship” and being being overly fond of management fads and leadership gurus as the paper languishes amid labor strife, in an email sent to roughly 150 New York Times employees. McNeil said Aurthur Sulzberger spends too much time traveling overseas and speaking at conferences while the New York Times and its staff are in open conflict over the latest collective bargaining agreement and the paper lacks a proper CEO (Sulzberger currently serves as interim CEO). “[O]ver the last 20 years, Arthur has adopted a series of management consultants.” McNeil writes in the email published by Gawker. “First there was…

Goldman Sachs sells stake in trafficking website

Goldman Sachs sells stake in Backpage trafficking website

New York Times columnist and crusader against human trafficking Nicholas Kristof discovered that Goldman Sachs used to own 16 percent of Village Voice Media, which operates prostitution site Backpage.com. Backpage.com has dominated the market for sex ads since Craigslist stopped running them. The site earns Village Voice Media $25.4 million a year. In his article, Kristof calls Backpage the “biggest forum for sex trafficking of under-age girls in the United States” and says that while many ads run in Backpage.com are for adult escorts, Backpage also “plays a major role in the trafficking of women or minors who are coerced” into prostitution. Goldman Sachs was “mortified” when Kristof began his reporting, Kristof says, and began…

Goldman Sachs banker Greg Smith slams firm in NYT

Goldman Sachs banker Greg Smith slams firm in NYT resignation letter

Greg Smith, a London-based Goldman Sachs vice president, publicly resigned from the financial firm in a scathing New York Times op-ed piece published Wednesday. In the article, Smith lashed out against Goldman’s “toxic” culture which, he feels, places profit above the best interests of clients. Smith likened the business to an elephant hunt, where bankers push investors into deals that will make the most money for the firm. Adding insult to injury, Smith claimed clients were consistently referred to as “muppets” in internal emails. Goldman CEO Lloyd Blankfein and President Garry Cohn defended the firm in an internal statement. It cited a survey in which an overwhelming majority of Goldman employees said they think the…

US should ditch Taiwan: New York Times op-ed

nytimes

Commie pandas must have slipped something into the water cooler at the New York Times yesterday, because the paper ran a shockingly ignorant and naïve op-ed suggesting that the US sell out Taiwan to China if Beijing would write off the US$1.14 trillion in American debt it currently holds. In To Save Our Economy, Ditch Taiwan, former Marine and Harvard fellow Paul V. Kane states that America’s relationship with Taiwan is a Cold War anachronism that offers little strategic benefit to the US, observing that “absorption into mainland China is inevitable.” Kane notes that such a deal would benefit China economically, as it would no longer have to spend the US$30 billion to US$50 billion…

Wall Street Journal takes on New York Times

Newspaper Wars

After more than a century of peaceful co-existence, the Wall Street Journal has decided to take on the New York Times head on with its Greater New York section. New owner Rupert Murdoch declared “let the battle begin.” Is this going to be a newspaper war for the ages? Or have the readers already moved on….online? Check out when we covered the late night wars between Jay Leno and Conan O’Brien on NBC. ‘Thumbs-up’ on YouTube if you have read the WSJ or the NYT in the last seven days.