While Rush/Ried Argue, People Die

I was on the treadmill at the gym this morning, watching whatever was on for diversion. A monitor was turned to the local FOX station and I'm watching all this time being devoted to Rush Limbaugh and Harry Ried's letter. Turns out that Rush is auctioning off the letter on eBay. So I researched the corporate players when I got to work, which are Clear Channel, Premier Radio Network, Fox News and eBay. Here's the bottom line: Corporations win, soldiers continue to fight and people die.

Watching Rush and Doocy go at it reminded me of, with apologies, two opposing used-car salesmen screaming at each other, but both are owned by the same company. Now bear with me here a moment. Let's take a look at the Major Holders of Clear Channel, of which Premier Radio Network is a subsidiary.

Symbol Name Of Corporation CCU Major Holders Clear Channel Communications Inc. (As of 30-Jun-2007) Top 10 Institutional Holders Shares 2007 Value 2006 FMR Corporation (Fidelity Management & Research Corp) 36,940,638 7.42% $1,397,094,929 -.--% Highfields Capital Management L.P. 24,854,400 4.99% $939,993,408 -.--% JP Morgan Chase & Company 18,522,665 3.72% $700,527,190 -.--% NWQ Investment Management Company, LLC 15,480,978 3.11% $585,490,587 -.--% Credit Suisse/Switzerland 15,124,460 3.04% $572,007,077 -.--% Barclays Global Investors UK Holdings Ltd 14,635,125 2.94% $553,500,427 -.--% State Street Corporation 13,391,275 2.69% $506,458,020 -.--% Vanguard Group, Inc. (The) 13,117,136 2.63% $496,090,083 -.--% TCW Group, Inc. (The) [Société Générale-France] 12,059,180 2.42% $456,078,187 -.--% Morgan Stanley 10,375,898 2.08% $392,416,462 -.--% % of Shares Held by All Insider and 5% Owners: 7% -.--% Top 10 [2.7%] of 376 Institutional Holders Control 35.04% -.--% Percentage of Barclays and "Associates" Control 14.54% -.--%

Now let's take a look at the Fox Channel, which is owned by News Corp.

Symbol Name Of Corporation NWS Major Holders News Corp. [FOX] (As of 30-Jun-2007) (As of 30-Jun-2006) Top 10 Institutional Holders Shares 2007 Value 2006 Vanguard Group, Inc. (The) 64,235,862 6.51% $1,473,570,674 -.--% Legg Mason Inc. 37,125,926 3.76% $851,668,742 4.35% FMR Corporation (Fidelity Management & Research Corp) 21,637,504 2.19% $496,364,341 3.02% Morgan Stanley 18,887,212 1.91% $433,272,643 1.26% Harris Associates L.P. 14,172,000 1.44% $325,105,680 1.25% Lord Abbett & Co 13,394,090 1.36% $307,260,424 -.--% Calpers (California-public Employees Retirement System) 12,879,264 1.31% $295,450,316 -.--% Calamos Advisors LLC 12,835,101 1.30% $294,437,216 -.--% JP Morgan Chase & Company 8,950,983 .91% $205,335,550 0.70% Mellon Financial Corporation 8,882,676 .90% $203,768,587 0.85% % of Shares Held by All Insider and 5% Owners: 5% -.--% Top 10 [x.x%] of xxx Institutional Holders Control 21.59% 20.25% Percentage of Barclays and "Associates" Control 8.92% 7.68%

NOTE: Wikipedia information here.
NOTE: News Corp also owns these media properties.
NOTE: Here's another ownership-of-media resource.

Finally, let's take a look at the Major Holders of eBay:

Symbol Name Of Corporation EBAY Major Holders eBay Inc. (As of 30-Jun-2007) Top 10 Institutional Holders Shares 2007 Value 2006 Legg Mason Inc. 71,476,798 5.26% $2,300,123,359 -.--% Barclays Global Investors UK Holdings Ltd 49,440,097 3.64% $1,590,982,321 -.--% Dodge & Cox Inc 31,671,304 2.33% $1,019,182,562 -.--% Vanguard Group, Inc. (The) 30,997,034 2.28% $997,484,554 -.--% State Street Corporation 28,714,329 2.11% $924,027,107 -.--% AXA (Paris, France) 26,587,598 1.96% $855,588,903 -.--% Price (T.Rowe) Associates Inc 26,270,155 1.93% $845,373,587 -.--% Oppenheimer Funds, Inc. 25,471,986 1.88% $819,688,509 -.--% Morgan Stanley 24,609,882 1.81% $791,946,002 -.--% Baillie Gifford And Company 23,381,270 1.72% $752,409,268 -.--% % of Shares Held by All Insider and 5% Owners: 19% -.--% Top 10 [1.4%] of 702 Institutional Holders Control 24.92% -.--% Percentage of Barclays and "Associates" Control 14.75% -.--%

I'm sure you see the pattern of the Major Holders, and also their Major Holders. They win from a screaming match like this while our soldiers die. But who benefits from the war? Simply note the Major Holders on this page and compare them with the Major Holders here. Need I say more?

Obviously, Rush Limbaugh and Harry Reid continue to get their salaries and bonuses, too.

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© 2007 by Edward Ulysses Cate
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