Capitalist "Creates" Wealth For Sluts/Angels/Whores

Read all the juicy stuff too.

It’s unknown whether or where Redstone’s relationship with Singh falls on that spectrum, but in both this instance and with The Electric Barbarellas, Redstone is seemingly using his status as the chairman of not one, but two publicly traded companies (CBS and Viacom) to advance his personal interests.

In doing so, he is negatively impacting shareholders in both of those companies. In a research report last week, for instance, Wunderlich Securities wrote that it discounts Viacom’s stock by 10 percent simply because the erratic Redstone remains in command. Put another way, if Redstone were to be removed from Viacom, the securities firm says that its share price would gain 10 percent immediately. That’s more than $3 per share based on Viacom’s closing stock price of $32.87 yesterday, or $1.8 billion in total market value. CBS, presumably, suffers from a similar discount.

We suppose Megan McArdle is OK w/ this, because Sumner Redstone is a titan of job-creating industry.