Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2 9/18/84; site amdahl.UUCP Path: utzoo!watmath!clyde!burl!ulysses!allegra!bellcore!decvax!decwrl!sun!amdahl!gam From: gam@amdahl.UUCP (gam) Newsgroups: net.politics Subject: Re: Good evening. This is the CBS Evening News, Jesse Helms reporting. Message-ID: <929@amdahl.UUCP> Date: Sun, 13-Jan-85 05:56:12 EST Article-I.D.: amdahl.929 Posted: Sun Jan 13 05:56:12 1985 Date-Received: Tue, 15-Jan-85 00:54:58 EST References: <295@gargoyle.UChicago.UUCP> Organization: Blue Mouse Trailer Resort, Hellmouth, CA Lines: 22 > News item from the NYT, Jan. 11, 1985 (article by Sally Bedell Smith): > > ...According to the documents, Senator Helms sent letters to > conservatives around the country urging them to buy shares in CBS > in order to influence the company.... > CBS officials said there are 29.7 million shares of CBS stock held by > about 24,000 shareholders. William S. Paley, the former CBS > chairman, is the largest individual stockholder, with 6.55 percent. > The price of a share of CBS stock closed yesterday at $73.875. So in order get controlling influence of the company (ie, get 50.000...0001% of the stock of CBS) would cost 29.7M * $73.875 (say) / 2 = $1097.04M = $1+ BILLION. I understand from an "All Things Considered" report that the plan was to send the letters to 1 million conservatives. Each (and every one!) would have to buy $1000 of CBS stock (guess what such a rush to buy will do to the stock price?). And then they all have to agree (each and every one!) on what policies CBS should follow. -- Gordon A. Moffett ...!{ihnp4,hplabs,sun}!amdahl!gam