Peter Kafka

Recent Posts by Peter Kafka

Mark Cuban to Sam Zell: I’d Still Like to Buy the Chicago Cubs. Just Lower Your Price, Please.

Nothing like a billionaire with a blog: Mark Cuban uses his this morning to explain that he’s still in the market for the Chicago Cubs. It’s just that Cuban, who made his money selling to Yahoo (YHOO) during Bubble 1.0 and kept it by getting out of that stock before Crash 1.0, doesn’t want to pay what owner Sam Zell wants–which seems to be about $1 billion.

If you’re at all interested in sports and business, it’s worth a quick read–Cuban has a nice touch at the keyboard, and really, how many other billionaires can you describe that way?

But for the time-pressed, here’s the upshot: Given that the Zell’s Tribune Company has turned into a nightmare for Zell, that price should come down, which seems to be Cuban’s thinking here:

So when it came down to it, I did what I thought was the only smart thing to do. I asked for an extension. I knew that if they got the money they wanted for the team, well my bid was not going to be high enough anyway. If they didnt, or the other bidders couldnt come up with their money, they would come back to me.

I’m still waiting.”

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik