STRATEGY: While much of Stan Perron’s wealth comes from his sale of Toyota vehicles, he continues to invest in shopping centres.

Old stagers embrace retail change

Shopping centres and old media, such as newspapers, are not high on the priority list of most investors thanks to the rise of the internet, but they are high on the list of some of the world’s richest people.


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As I find often with Tim Treadgold, this week's article doesn't let FACTs interfere with a 'good yarn...' The fact is, NEITHER the purchase of the Washington Post by billionaire Jeff Bezos nor that of the Boston Globe by John Henry was a 'contrarian investment move.' In fact, these were two publicly minded billionaires willing to subsidise important journalistic icons of American topical discussions. In essence, their moves were akin to fabulously wealthy Citizen Kane, who explains to his banker that he KNOWS that his paper LOST a million dollars THIS year, and WILL LOSE a million dollars NEXT year, so he can only afford the losses for 50 YEARS! There are more Zeroes behind the numbers in the modern POST/GLOBE cases, but Bezos can WELL afford the Post's loss of $250 million p.a. for quite a while!

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