Thursday, August 25, 2005

As lazy and stupid as their editorial writers

Another argument for the Estate Tax.

Presenting the Bancroft family, owners of the Dow Jones Co. which publishes the Wall Street Journal.

"The fact that we own the Wall Street Journal," a family member told me some years ago, "is the only thing that keeps us rom being just another rich family."

That is pathetic. They accept the poor perfomance of the company and refuse to sell because that would take away their identity as media tycoons.

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