« Whither Hudson Yards, again? | Main | The Rat’s Nest »
January 24, 2009
New York Times criticized for a deal with (Mexican) tycoon; could those criticisms apply to its deal with Ratner?
Atlantic Yards Report
Mexican billionaire Carlos Slim Helu is investing $250 million in the New York Times Company. This transaction has triggered a critical essay in Slate. Norman Oder wonders if some of the criticism being made of the Times Company's close relationship with Slim couldn't also be applied to the chummy relationship with Bruce Ratner, who partnered with the Times in building the paper's new headquarters.
As I quote some excerpts from Martinez's essay, I'll suggest some similar criticisms may apply to the Forest City Ratner deal.
Whether a weak Mexican state can develop and implement muscular antitrust policies to rein in the likes of Slim and foster greater competition is one of the keys to our neighbor's prosperity, which shouldn't be a minor story for an American newspaper.
Whether major projects like Atlantic Yards can be built in New York City via a transparent and fair process, including the role of eminent domain shouldn't be a minor story for New York's leading newspaper, especially given that the Times Tower itself was an example of such challenges.
The point is, Slim doesn't have to interfere at all. I know from experience that publishers do intervene in the editorial process, as is their prerogative. And I can assure you that Slim's investment will be a factor, even if unspoken, in editorial decision-making henceforth at the Times. Perhaps Mexico's crony capitalism will remain a mostly neglected topic—but now conspiracies will be read into the neglect.
I'll take the Times at their word that the publisher doesn't interfere in the news coverage. (Michael Wolff suggests Ratner is "protected" and, while there's no proof of that, and there has been some tough reporting, there's been a lot of weak reporting, too, and never a major investigative piece.)
Posted by steve at January 24, 2009 8:42 AM