Word: rattner
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...nervous as Murdoch exploited permissive Australian accounting rules to run up $8 billion in corporate debt (vs. assets worth perhaps $20 billion), much of it short-term and in need of frequent refinancing. But Murdoch continued to insist to stockholders that "fortune does favor the brave." Says Steve Rattner, head of the media department at the investment bankers Lazard Freres: "Of all media moguls, Rupert has been the boldest. If Fox or Sky had crashed and burned, he would have burned too. He has an enormously strong constitution...
Perhaps the most significant trend in Murdoch's latest maneuvers is that he continues to be willing to risk billions on video-related enterprises while balking at mere millions for print undertakings. Says analyst Rattner: "Clearly he has decided that the future of news and entertainment is electronic. Even buying TV Guide is tied in to that philosophy...
While these events are clear, it appears that the letter commenting on them submitted by Morris Rattner and me does not lend itself to such clear reading. Or so it would seem by the way in which the Crimson staff editorial misread...
...Rattner correctly points out that the public record of the arrests can literally ruin their lives. Witness a Belmont High School swim coach who resigned in the wake of the incident...
SOME of the arguments against the arrest policy are transparent veils for defending the practice of anonymous public sex. Rattner and Barrios write that bathroom sex is a "victimless crime" and that the University's opposition is caused by a "selective sense of decency"--as if there were some inalienable right to have sex in public...