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Thursday, June 28, 2007
When the Street Eats its Own
I will be interested to see the reaction from the Street to Murdoch's Dow Jones takeover.
Rupert is gonna absolutely eviscerate the Journal, and spit out something like a cross between the Sun and the business section of your local free paper. Yes, it's speculation - but it's also what he's done to every newspaper he's ever owned.
So will the Street care when one of their own - and one of their few and cherished - institutions is ripped apart, strip-mined, and left broken and bleeding?
Markets have no morality. But they do have white knights...
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