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Alden Global Capital’s letter to Illinois Senators Dick Durbin and Tammy Duckworth, annotated

By Julie Reynolds Heath Freeman has come out of hibernation.  The co-founder of vulture hedge fund Alden Global Capital hasn’t spoken to the media in years. He never, ever returns journalists’ calls. When he’s been close to being deposed in… Continue Reading →

Saving Local News in the Time of Coronavirus

The author visiting Heath Freeman’s Montauk manse before a security fence was installed. By Evan Brandt POTTSTOWN, PENNSYLVANIA — It should come as no surprise to any regular readers of this blog that, like other local businesses, local news is… Continue Reading →

MNG/Alden just launched a flurry of layoffs and furloughs as local news readership soars in coronavirus crisis

UPDATES:  April 10: A source tells DFMworkers that the Reading Eagle, which Alden’s Heath Freeman claims to have “saved,” has laid off 19 people. Ten were from the newsroom. Nine additional layoffs were in other departments, no details yet. April… Continue Reading →

Thank a journalist today

Local news reporters perform heroic service in the face of coronavirus By Julie Reynolds Despite near-daily attacks from the president, years of extreme budget cuts by their companies’ hedge fund owners, and the risks they face reporting daily on the… Continue Reading →

The wealth-extraction problem

Taking a deep dive into global finance, private equity and a coming recession with Nicholas Shaxson, author of The Finance Curse   RELATED STORY: The Op-Prop Chop Shop: How hedge funds like Alden extract wealth from companies they ‘invest’ in… Continue Reading →

A message to readers of the nation’s oldest continuously published newspaper: Your roof is on fire

The Courant’s current offices | Sage Ross, Creative Commons License We need to encourage Alden to put up or shut up By Susan Campbell Dear Hartford Courant reader, Your roof is on fire. The signs have been there, but you… Continue Reading →

Schumer demands answers from Alden Global Capital

Letter highlights offshore investors “shrouded in secrecy” as more lawmakers decry Alden’s impact on local news By Julie Reynolds Senate Minority Leader Chuck Schumer (D-NY) is demanding information from Alden Global Capital President Heath Freeman and calling out the hedge… Continue Reading →

The Op-Prop Chop Shop: How hedge funds like Alden extract wealth from companies they ‘invest’ in

An interview with Nicholas Shaxson, author of The Finance Curse By Julie Reynolds Nicholas Shaxson has spent a career looking into highly secretive companies. He is, after all, the author of a respected book on offshore tax havens (Treasure Islands,… Continue Reading →

Guns, fracking and big coal: Hedge fund Alden has a history of plundering its newspapers for questionable industry investments

By Julie Reynolds Alden Global Capital, the New York hedge fund behind the gutting of local newspapers nationwide, has increased its investments in the parent of Smith & Wesson firearms and controversial coal company Peabody Energy, a new Securities and Exchange… Continue Reading →

Chicago City Council considers proclamation urging Alden to invest, sell, or face questions in person

Photo of Chicago City Council chambers by Daniel X. O’Neil | Used under Creative Commons license By Julie Reynolds Declaring that “local news is vital to communities,” a Chicago Alderman has introduced a resolution calling on executives from hedge fund… Continue Reading →

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