Wednesday, March 18, 2009

The man who destroyed Knight Ridder retires

Bruce Sherman, who forced Knight Ridder to sell its newspapers in 2006 because he wasn't getting enough of a return in his investment, will retire next month at age 61, The New Republic reports. He bought high and sold low, losing billions for the investors in his fund and destroying previously healthy newspapers along the way. He forced Knight Ridder to sell its papers to McClatchy. McClatchy later sold its Knight Ridder papers in the Bay Area to MediaNews for $1 billion.

1 comment:

Anonymous said...

Bruce Sherman retiring at age 61 ?
In this day & age most blue collar hard working americans who've had to scrub the dirt from under their fingernails for years will not be able to retire at such an early age because of greedy people like him.Wouldn't be surprised to find out he has ties to receiving sometype of govt. bailout $$$.Yes,the Man is a title deserving...of him & in no way does he have a clue or care of the lives he ruined by way of his stupidity.Those who trusted his judgement & have lost $$$ should use the resources available in america to assure that he will not have a comfortable retirement.What goes around comes around !!!