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# The Global Intelligence Files

On Monday February 27th, 2012, WikiLeaks began publishing The Global Intelligence Files, over five million e-mails from the Texas headquartered "global intelligence" company Stratfor. The e-mails date between July 2004 and late December 2011. They reveal the inner workings of a company that fronts as an intelligence publisher, but provides confidential intelligence services to large corporations, such as Bhopal's Dow Chemical Co., Lockheed Martin, Northrop Grumman, Raytheon and government agencies, including the US Department of Homeland Security, the US Marines and the US Defence Intelligence Agency. The emails show Stratfor's web of informers, pay-off structure, payment laundering techniques and psychological methods.

## Re: Mexican mogul Slim sees opportunity in NY Times

Released on 2012-08-24 05:00 GMT

Email-ID | 3447461
Date | 2009-01-21 03:30:26
From | eisenstein@stratfor.com
To | burton@stratfor.com, exec@stratfor.com

Find out. Would make an AWESOME campaign. Just say no to the NYT!
Sent from my iPhone
On Jan 20, 2009, at 8:08 PM, "Fred Burton" <burton@stratfor.com> wrote:
It would be interesting to see what cartel he is beholding too. Wonder
how much drug money is being laundered into this transaction? "Slim
got his start in the cigarette business.." His father was a Lebanese
immigrant.
----------------------------------------------------------------------
From: eisenstein@stratfor.com [mailto:eisenstein@stratfor.com]
Sent: Tuesday, January 20, 2009 8:03 PM
To: Fred Burton
Cc: Exec
Subject: Re: Mexican mogul Slim sees opportunity in NY Times
More likely a "slim" opportunity
Sent from my iPhone
On Jan 20, 2009, at 4:54 PM, "Fred Burton" <burton@stratfor.com> wrote:
AP
Tuesday January 20, 10:08 am ET
By Julie Watson, Associated Press Writer
New York Times offers prestige to Mexican billionaire looking to
expand into US market
MEXICO CITY (AP) -- A Latin American billionaire looks to expand his
empire in the United States in a deal that could make him the largest
shareholder of The New York Times Co.
The $250 million investment by Mexican tycoon Carlos Slim could
provide some synergies with his telecommunications holdings in Latin
America, analysts say.
ADVERTISEMENT
Perhaps more importantly, Slim, reputed to be the world's
second-richest man, would gain the prestige of owning one of the
world's best-known and most influential newspapers.
"By having a stake in the New York Times, he's basically projecting
himself as a powerbroker in this country, regardless of how his
investment does," said Armand Peschard-Sverdrup, a senior associate of
the Center For Strategic and International Studies, a Washington think
tank.
The Times announced late Monday the financing agreement with Slim's
companies Banco Inbursa and Inmobiliaria Carso for $125 million each.
Times President Janet L. Robinson said the cash infusion will be used
to refinance existing debt and will provide the company with increased
financial flexibility.
New York Times shares slipped 8 cents to $6.33 in morning trading
Tuesday, the first trading day after the company announced the deal.
The Times, which also publishes The Boston Globe and International
Herald Tribune, has been trying to conserve cash as advertising
revenues continue to slide. Newspaper publishers across the country
are hurting amid the economic downturn and as advertisers shift
spending online. The Times slashed its quarterly dividend by 74
percent in November and plans to raise $225 million from its new,
52-story Manhattan headquarters, either by selling the building and
leasing it back or borrowing against it. It also put its stake in the
Boston Red Sox up for sale.
In September, Slim and members of his family purchased 6.4 percent of
the company's publicly traded shares. The Times said the value of
Slim's investment has since fallen to $58 million from $128 million.
The Times said Slim would buy six-year notes in the company with
warrants that are convertible to common shares. The notes carry a 14
percent interest rate, with 11 percent paid in cash and 3 percent in
additional bonds, the newspaper reported.
Those terms could be similar to those insisted upon by Warren Buffett,
when he invested billions in Goldman Sachs Group Inc. and General
Electric Co., with the promise of 10 percent annual dividends.
Slim would get no representation on the Times' board, and no special
voting rights. But when he exercises the warrants, he would own up to
17 percent of the company's common stock, making him one of the
company's largest shareholders. The Ochs-Sulzberger family owns about
19 percent of the company but controls it through a special class of
supervoting shares.
Slim is part of a crop of emerging-market billionaires, from Mexico to
Russia, who are on a shopping spree now that the recession has slashed
the prices of some of America's best-known companies.
Slim recently upped his stakes in Saks Fifth Avenue, and his Inbursa
brokerage in Mexico bought at least $150 million of Citigroup's
sinking shares.
"A lot of foreign business tycoons are bargain shopping, and this is
something the U.S. has no choice but to get used to,"
Peschard-Sverdrup said. "We're going to have all these various foreign
interests owning various U.S. assets. It's one of the things that the
recession ultimately has accelerated."
Some investments seem risky at best. Retail electronics tycoon Ricardo
Salinas Pliego, another Mexican billionaire, raised his stake in
bankrupt Circuit City to 28 percent before the company announced last
month that its U.S. stores will go out of business.
Slim has built his fortune by turning troubled companies. He learned
how to make his money from his father, a Lebanese immigrant and Mexico
City shopkeeper who bought cheap property.
Slim got his start in the cigarette business and made it big in 1990,
taking control of Mexico's state-owned telephone monopoly. Telefonos
de Mexico SA, or Telmex, still operates more than 90 percent of the
nation's fixed-line phone services, while his America Movil SAB is
Latin America's largest mobile phone service provider.
"He transformed a state-owned company into one of the most profitable
businesses in the country," said analyst Jose Coballasi of Standard &
Poor's in Mexico City.
Now worth an estimated $59 billion, Slim owns hundreds of businesses
in Mexico, from bakeries to clothing stores to record shops and drug
stores. His industrial-retail conglomerate Grupo Carso is solid,
enjoying liquidity despite the crisis, Coballasi said.
Opponents say Slim, 68, runs ruthless monopolies that illegally block
competitors, and is known for hostile takeovers. After Slim boosted
his stake in Saks from 17.2 million shares to 25.3 million shares late
last year, the company's board introduced a "poison pill" into its
share structure, apparently to prevent a Slim takeover.
Slim has said he knows how to seize an opportunity. These days, there
is no better place to buy businesses on the cheap than the United
States.
"I don't see him meddling," said George Grayson, a Mexico expert at
the College of William & Mary in Virginia. "Those of us who read the
New York Times everyday, I think will be uncorking champagne bottles
because unless these papers are infused with capital they are going to
cut back services."
The Times Co. reported having about $46 million in cash and $1.1
billion in debt in September. A $400 million loan expires in May.
"The New York Times needs money in the next few months, and Slim has
it," said Shannon K. O'Neil, a Latin American expert at the Council on
Foreign Relations in New York. "So in this sense, he could help save
it by providing essentially a loan for the paper, to provide them time
to make the changes necessary to adjust to the changing media world
and become more profitable again."