Peter Kafka

Recent Posts by Peter Kafka

What Do Maxim Magazine, Chrysler and Your Tax Dollars Have to Do With Each Other?

maximWhat does the collapse of lad magazine publisher Maxim have to do with the auto industry’s bailout?

More than you think, argues the New York Post’s Keith Kelly. If you’re interested in either publishing or Washington’s attempt to save the auto business, you should read the entire piece.

But here’s the important part: Quadrangle Group, the big media investment group run by Steve Rattner, borrowed $125 million from Cerebus Capital Management to buy Maxim and other high-concept, big-print titles from founder Felix Dennis. Those magazines are in disarray (yesterday, Quadrangle shuttered music title Blender) and Quadrangle defaulted on those loans last year.

Still there? OK. Now Rattner has left Quadrangle for Washington, where he’ll advise the Obama administration on how to deal with companies that include Chrysler, which is owned by… Cerebus.

Which should make for an entertaining conversation or two, at the very least.

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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