Vulture Capitalist? Warren Buffett Buys, Then Closes Newspaper

Posted by Brian

Warren Buffett - "Vulture" Capitalist?

During the 2012 Presidential race, Democrats, the Obama lapdog media, and liberals in general, labeled Mitt Romney a "vulture capitalist" because of his tenure at Bain Capital.  Of course, this was an unfair smear on Romney (which worked), as Bain, which buys companies which are already struggling or on the verge of bankruptcy, attempts to turn them around, and then sell them at a profit.  Far more often than not, that is what happened.  But occasionally those companies could not be turned around and would then be liquidated.  People in those companies unfortunately lost their jobs. This is a simplification of course, but generally that is how it worked.
My question is this:  Do you think that Warren Buffett will be excoriated and labeled a "vulture capitalist, as Romney was, for buying the Manassas News and Messenger newspaper company and a Happy New Year firing to all of its employees, barely six months after buying it? My guess is not only no, but the mainstream media will virtually ignore it.  He is, after all, one of "them".

WARREN BUFFETT-OWNED NEWSPAPER SHUTS DOWN
by WARNER TODD HUSTON  31 Dec 2012

After 143 years in print, the Manassas News & Messenger of Manassas, Virginia has turned off its printing presses for good.

The Manassas News is another in a long chain of failed local newspapers that have ceased publication over the last decade, unable to compete with social media, electronic media, and cable TV delivering news as it happens. The paper stopped publication in November.
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Deadbeat Taxpayer Buffett Owes BILLIONS in Back Taxes

Posted by Brian

The "Wizard of Omaha" Warren Buffett, quick to portray himself as just a down-home every guy, and who has been a forceful voice for Obama's "soak the rich" tax plans hasn't been practicing what he preaches.  The second richest man in the country, who has been lecturing us about the rich not paying their "fair share", appears to be the very greedy bastard he has been railing about.

It Turns Out Warren Buffett Is A Master Of Avoiding Taxes
The Daily Reckoning|April 04, 2012

Life isn’t fair. Some extremely smart people never make much money. Similarly, some rather stupid people seem to fall into it and make fortunes. Go figure. Then, there is Warren Buffett.

Warren is fond of playing the role of the “folksy” type who still lives in his modest house in nowhere Omaha and owns an old car he’s had for years. Just plain folk, he’d have you believe. Well, DON’T believe it! This is the same Buffett who constantly travels by private jet; is chauffeured by limousines wherever he goes; regularly stays at 5-star hotels; invests in deals not available to any other investors. Yet, he’d have you believe he’s just like you. Sure!

Lately, Warren has been a shill for Obama. Over and over again, we hear how good ole Warren “wants” to pay more taxes and thinks his wealthy buddies ought to follow suit. “We aren’t taxed enough,” he says. Well, let’s take a closer look at just where Warren stands when it really comes down to paying his taxes. Not at what he says about taxes but what he has actually done regarding the paying of taxes that he legitimately owes.

There are two recent cases where Warren has done everything possible to AVOID paying taxes that he actually owes. The first case involved a 14-year fight over the dividend-received deduction that was finally settled with the IRS in 2005. The second case is still pending after 10 years in which he owes just over $1 BILLION in back taxes. Both of these cases are well-documented and you can satisfy yourself simply by using Google to inquire as to the voracity of these assertions. Also note the timeframes of 14-years and 10+-years; not exactly a haphazard hissy fit. While you’re at it, you might also ask yourself “why” Warren says one thing in public discourse while he practices the exact opposite in his business and personal life. Is not that the definition of hypocrite?
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