Word: peretz
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...Peretz says that Harrison wanted to sell the magazine and still have it, that he expected him to be an absentee owner. Peretz says he did not encourage Harrison in that view. While Harrison does not publicly attack Peretz, friends say that he feels betrayed. One source who wishes to remain unknown says Harrison told him that selling The New Republic to Peretz was "the biggest mistake I ever made...
Apparently the only message which got through to Karnow, Pincus, and Grumbach about the new man in the owner's office was that Peretz was serving an apprenticeship and they didn't, Karnow said, expect him to "throw his weight around...
Richard L. Strout '19, who writes under the column-head TRB for The New Republic (Strout says the title is the reverse of the initials of the Brooklyn Rapid Transit, hastily improvised under deadline years ago) says of the Peretz-Harrison arrangement, "I don't see how any same person would have thought it would last." The arrangement for Peretz to be Harrison's apprentice but also owner of the magazine was an "artificial situation with a built-in conflict," Strout says...
...clincher that gave Peretz final authority in the dispute was a clause saying "the seller will serve the buyer's best interests." The agreement was that Harrison would stay on for a three year grace period while Peretz learned the ropes. This arrangement, Peretz says, caused one of his friends, a "shrewd" businessman, to say, "This kind of two-headed monster will never last...
...wasn't expected to throw his weight around the way he did says that right now he is having more fun than he's had in years. Peretz says that he has found an outlet for his "political, intellectual, literary and entrepreneurial tendencies," and that The New Republic "is right...