Wednesday, October 20, 2004
The above is Sinclair Broadcasting's stock chart, hitting a 52-week low today.
May the pro-business Republicans answer this question: I thought it was the #1 priority of public companies to do what's in the best interest of their shareholders, namely by doing what's necessary to get the stock price to go up - no? With Sinclair's decision to air the propaganda-filled documentary on John Kerry, advertisers are leaving and lawsuits are coming.
Hmm, it would appear that this company doesn't care about its shareholders and doesn't care about the business of business. Nope, it appears ideology matters first and foremost, choosing cronyism and political favoritism over maximizing stock price gains.
Good to see free-market, laissez faire in action!
Posted by Grey Matter at 1:23 AM