There is a venerable Wall Street joke featuring an investor who, having accumulated a large position in an illiquid stock, decides it is time to get out. ''Yes, sir,'' replies the broker when he is told to sell. ''To whom?''
The current situation of Knight Ridder, the owner of such newspapers as The Philadelphia Inquirer and The Miami Herald, brings back that joke, albeit painfully.
The investor is a hitherto successful money manager named Bruce Sherman, whose Private Capital Management invests money for wealthy individuals and institutions.
http://www.iht.com/articles/2005/11/17/business/web.norris.php
The current situation of Knight Ridder, the owner of such newspapers as The Philadelphia Inquirer and The Miami Herald, brings back that joke, albeit painfully.
The investor is a hitherto successful money manager named Bruce Sherman, whose Private Capital Management invests money for wealthy individuals and institutions.
http://www.iht.com/articles/2005/11/17/business/web.norris.php
