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A slew of left-wing business moguls are on the skids thanks to poor investment decisions, questionable judgment, and accusations of bribery and cronyism?

~ The Rebel ~ 2012/05/16 04:20:13
Warren Buffett has lent his star power and his surname to President Barack Obama’s push for higher taxes, but his firm and its shareholders have not fared well during the Obama administration. Berkshire Hathaway has underperformed the Standard & Poor’s 500 Index by an average of eight percent over the past three years.

Bloomberg News reported earlier this month that the Oprah Winfrey Network (OWN) may have lost as much as $330 million since its launch due to poor ratings and lackluster demand.

Hedge-fund billionaire Philip Falcone has driven telecommunications company LightSquared into Chapter 11 bankruptcy.

Jeffrey Katzenberg, Obama’s largest campaign contributor, has also found himself embroiled in a bribery scandal. The SEC is investigating whether DreamWorks bribed Chinese officials in exchange for the right to produce and distribute DreamWorks films in that country. Secretary of State Hillary Clinton and Vice President Joe Biden joined Katzenberg as he signed an agreement to open a new facility in Shanghai.

The tally of embattled businessman extends past politics into the nonprofit sector.

READ MORE:
http://freebeacon.com/obamas-bad-businessmen/

Read More: http://freebeacon.com/obamas-bad-businessmen/

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2014/08/23 15:22:55

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