Remember Newsweek? The news magazine has all but disappeared from the landscape. Good luck finding them in a grocery store. Happy hunting on noting a major story they have broken. In 2003 the magazine had a U.S. circulation of 2.7 million copies. Within seven years the company had lost so much money it was sold – for $1.00.
Various owners had since tried to make the brand work. One recently was suspected of fraudulent loans and in January Newsweek had its Manhattan offices raided to obtain its computer servers for the investigation. Which is to say, when it comes to delivering lectures on conducting business the site is a dubious source.
That didn’t stop them however from clucking loudly about a member of the administration.
Jared Kushner-founded firm doesn’t want to invest in poor areas due to "unfavorable growth prospects" https://t.co/V3vMM1WlmD pic.twitter.com/6UyuwK99gx
— Newsweek (@Newsweek) December 17, 2018
So much to untruck in a brief tweet about the firm called Cadre. First, “founded”, indicating past tense. Because, as Newsweek admits deeper in the article, “Kushner left any management position he had in Cadre upon entering the White House and does not have a decision-making role at the company“.
As for the “doesn’t want to invest“, the implication they are required to is rather sophomoric. The article references a Trump administration tax break for companies that invest in distressed areas, but that would only be available IF they were to invest in qualifying areas.
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But the tone of disdain here for a company not investing, due to poor growth projections, can only be made by a news outlet that operated so poorly the entire company sold for 1/5 of the cover price of one issue of its magazine.
With insight this keen, it’s hard to believe that Newsweek had to be sold for a dollar…
— aThirdOfDuane (@aThirdOfDuane) December 17, 2018
1) Jared is not running that business NOW, he is in government now.
2) Businesses don't exist to do social welfare programs.
3) Anyone that retweets this or is "outraged" over this is almost as dumb as the author.— Steph (@steph93065) December 17, 2018
A business will not remain in business if they can’t make a profit. Something maybe Newsweek is not aware.
— Ryan B. Leslie (@RyanBLeslie) December 18, 2018
Based on the professional track record, you can drop the “maybe”.
Omg hello people from the Right, I’m from the Left, let’s bond over how stupid this headline is
— dylan (@dylanjt) December 17, 2018
Chick-Fil-A has invested in several poor areas!
— MarkSox (@MarkSox251) December 17, 2018
Sssshhhhh! They are inherently evil for totally different reasons!
Maybe business leaders should all open a Solyndra and be out of business in a year.
— Mark Weber (@web61) December 17, 2018
Now this does have a proven track record. Pocket billions, close your doors in a short period of time, and make off, with little media complaining. Somehow a company not taking government funds is declared bad by Newsweek.
There is only one other result from this kind of story: Cadre goes into depressed areas and turns a profit. Then Newsweek would be able to carp about how Kushner is profiting off of the poor and downtrodden citizens.
The magazine has the tagline of “Stay Relevant”. Don’t you first need to become that?
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