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Full Version: George Clooney BLASTS Hedge Fund investor LOEB
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Great stuff. as people know Loeb is trying to shake things up at Sony by hiving off its Entertainment/media division.

Said Clooney: “I’ve been reading a lot about Daniel Loeb, a hedge fund guy who describes himself as an activist but who knows nothing about our business, and he is looking to take scalps at Sony because two movies in a row underperformed? When does the clock stop and start for him at Sony? Why didn’t he include Skyfall, the 007 movie that grossed a billion dollars, or Zero Dark Thirty or Django Unchained? And what about the rest of a year that includes Elysium, Captain Phillips, American Hustle and The Monuments Men? You can’t cherry pick a small time period and point to two films that didn’t do great. It makes me crazy. Fortunately, this business is run by people who understand that the movie business ebbs and flows and the good news is they are ignoring his calls to spin off the entertainment assets. How any hedge fund guy can call for responsibility is beyond me, because if you look at those guys, there is no conscience at work. It is a business that is only about creating wealth, where when they fail, they get bailed out and where nobody gets fired. A guy from a hedge fund entity is the single least qualified person to be making these kinds of judgments, and he is dangerous to our industry.”


Why is he dangerous?

“[Loeb] calls himself an activist investor, and I would call him a carpet bagger, and one who is trying to spread a climate of fear that pushes studios to want to make only tent poles,” Clooney said. “Films like Michael Clayton, Out of Sight, Good Night, And Good Luck, The Descendants and O, Brother Where Art Though?, none of these are movies studios are inclined to make. What he’s doing is scaring studios and pushing them to make decisions from a place of fear. Why is he buying stock like crazy if he’s so down on things? He’s trying to manipulate the market. I am no apologist for the studios, but these people know what they are doing. If you look at the industry track record, this business has made a lot of money. It creates a lot of jobs and is still one of the largest exporters in the world. To have this guy portraying it that Sony management is the bad stepchild and doesn’t know what it is doing and he’s going to fix it? That is like Walmart saying, let me fix your town, putting in their store, strangling all the small shops and getting everyone who worked in them to work for minimum wage with no health insurance.
“It’s crazy he has weight in this conversation at all,” Clooney continued. “If guys like this are given any weight because they’ve bought stock and suddenly feel they can tell us how to do our business — one he knows nothing about — this does great damage than trickles down. The board of directors starts saying, ‘Wait a minute. What guarantee do you have that this movie makes money?’ Well, there are no guarantees, but if you average out the films Will Smith and Channing Tatum have made, you will take that bet every time, even if sometimes it just doesn’t work out.” Clooney also said he believes that down the line both films have a chance to be a wash. Clooney was particularly sensitive on the subject of job creation.

“Hedge fund guys do not create jobs, and we do,” he said. “On the movie we just made, we put 300 people to work every day. I’m talking about nice, regular people, and when we shot in a town, we’d put another 300 people to work. This is an industry that thrives; there are thousands of workers who make films. You want to see what happens if outside forces start to scare the industry and studios just make tent poles out of fear? You will see a lot of crap coming out.”
This guy has taken aim at 2 asian related companies so far.. SONY (japanese) and Yahoo (chinese american)
He bought a significant amount of stock you're damn right he was the right to dictate how his money is spent, clooney you don't like it then buy him out, you can produce loss making movies to your hearts content, aggogant elitist through & through.
i hate my own kind too. scums of the earth.
Clooney makes some good points.

Not a fan of Hollywood at all.. but he's right in this case.

Loeb is taking aim at Kaz Hirai:

[Image: kazuo-hirai.jpg]
(08-04-2013 07:16 AM)EVILYOSHIDA Wrote: [ -> ]This guy has taken aim at 2 asian related companies so far.. SONY (japanese) and Yahoo (chinese american)

he didn't take a stab at Sony btw. he's glad Sony is run by insiders and not bankers...... his whole rant is about the idiocy of the fund manager.
^ I'm talking about Loeb not clooney.
oh my bad. YAHOO is no longer CHinese American. The Yang was bought out and told to hit the road last year.
(08-04-2013 07:23 AM)DONG JOHNSON Wrote: [ -> ]oh my bad. YAHOO is no longer CHinese American. The Yang was bought out and told to hit the road last year.

I think this is EY's point, i.e., bought out by Loeb (thereby bringing the formerly independent YAHOO under the NWO umbrella).
Jew kicks out the Asian.

makes sense.
(08-04-2013 07:31 AM)Roland Bates Wrote: [ -> ]
(08-04-2013 07:23 AM)DONG JOHNSON Wrote: [ -> ]oh my bad. YAHOO is no longer CHinese American. The Yang was bought out and told to hit the road last year.

I think this is EY's point, i.e., bought out by Loeb (thereby bringing the formerly independent YAHOO under the NWO umbrella).

Yeah.

I think they he even hired some PI's to investigate the last CEO scott thompson.

it's funny how his 2 most high profile cases.. he took aim at ASIAN media companies.

Yahoo was deeply entrenched with asia, esp. Japan and China (alibaba)
(08-04-2013 07:32 AM)DONG JOHNSON Wrote: [ -> ]Jew kicks out the Asian.

makes sense.

i wouldn't put it that way...

Clooney a jew is defending Sony.
(08-04-2013 07:36 AM)EVILYOSHIDA Wrote: [ -> ]
(08-04-2013 07:32 AM)DONG JOHNSON Wrote: [ -> ]Jew kicks out the Asian.

makes sense.

i wouldn't put it that way...

Clooney a jew is defending Sony.

Clooney is NOT Jewish or partially Jewish.
but yeah.. it seems this LOEB has problems with asians owning media companies.
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