Venture Capitalism

Meet Ron Burkle
http://en.wikipedia.org/wiki/Ronald_Burkle

Friend of the Clintons, Billionaire, major fundraiser and donor to the Democratic Party, supermarket chain owner [Ralph’s, Dominick’s, Food4Less, Pathmark](wonder if he has an opinion on Food Stamps?), part owner of YMF Media, the company that took over “black radio” Inner City Broadcasting which owned WBLS in New York (revenue is up 61% in one year with white people running it)…

The Fresh & Easy supermarket chain out West has filed for bankruptcy. It’s been losing $22 million a month

http://www.utsandiego.com/news/2013/Oct/01/tp-fresh-easy-bankruptcy-sets-table-for-auction/

Ron Burkle is going to be the “stalking horse” bidder at the auction for what is left of the company.

The irony here is a big part of why this company failed is non-union competition from Wal-Mart. Wal-Mart of course started to grow in Arkansas while Bill Clinton was Governor, and Hillary Clinton served on the Walmart Board of Directors. It does make you wonder why Democrats have such hatred for Walmart, doesn’t it?

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1 Response to Venture Capitalism

  1. Art Stone says:

    Somewhat unrelated, YMF Media has agreed to sell 5 stations in Columbia SC to Larry Wilson, the guy who originally put together Citadel Broadcasting using money buying up small stations at inflated prices during the post 1996 merger orgy. He was gone from Citadel before they decided to buy ABC Radio. The stations in South Carolina had been owned by the bankrupt “black radio” owner Inner City Broadcasting.

    http://www.allaccess.com/net-news/archive/story/122329/l-l-broadcasting-to-purchase-ymf-media-in-columbia

    Note how the spokesman tries to say that YMF has run the station for 13 years, when they took it over only in 2012 – rewriting the prior owners out of their version of his-story.

    Here are the ratings for Columbia (L&L is Larry Wilson)
    http://ratings.radio-online.com/cgi-bin/rol.exe/arb183

    If you’re curious, Larry Wilson is not diverse.
    http://www.alphabroadcasting.com/01/25/13/Larry-Wilson/landing.html?blockID=661315&feedID=12105

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