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A CNBC news report tonight (June 18) at 5 p.m. put the spotlight on Tom Gores, the Beverly Hills financial swinger whose firm now owns the Union-Tribune, and Mike Aguirre, the former city attorney who was endlessly smeared by the U-T and defeated for re-election. This time, Gores got the worst of it. In commenting on the attempt by Gores's firm, Platinum Equity, to get a big, subsidized chunk of auto parts maker Delphi, CNBC noted what is now well known: Gores had an affair with his brother's then-wife (now ex-wife); it came to light in the celebrated Hollywood Anthony Pellicano private eye case. She thought she was being tailed during a rendezvous with Tom Gores. The CNBC piece also mentioned alleged sexual hanky-panky supposedly charged in civil suits. Aguirre, who heads San Diego's National Center for Regulatory Reform, was interviewed about President Obama's proposed regulatory reform. Aguirre gives it an "F" grade. He doesn't approve of the Federal Reserve getting more regulatory power; the Fed's independent status could be threatened, and there is a conflict between running monetary policy and regulating financial institutions. As revealed earlier on this blog, Aguirre believes that the 1933 Glass-Steagall Act that mandated a strict separation of insurance, investment banking and commercial banking functions, should be reinstated. Also, hedge funds should have to register as investment companies and derivatives should be regulated by the Commodity Futures Trading Commission.

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Comments

Anon92107 June 19, 2009 @ 4:19 a.m.

Don, it's time to get serious about focusing on solving San Diego’s problems created by the Copley Union-Tribune era and not allow sensationalism to distract us any longer.

Reading your reports, the new owners of the U-T do not appear to be serious about journalism which means that solutions to San Diego's escalating problems will be delayed even longer while our political, economic, environmental and social institutions descend further into the dumper of failed civilizations.

Your reports keep proving that we are stuck in a spiraling decline due to our culture of instant gratification that has refused to plan and protect extremely precious and increasingly limited resources far too long.

To overcome the consequences of the failures created by our older generations, the younger Reader generations must be encouraged to maximize the use of every remedial option at their disposal using all available communications media to prevent the increasingly unacceptable environment and social breakdowns from producing a quality of life they won’t be able to enjoy at all.

The younger generations of voters must use The Reader Blogs, Twitter, etc. to produce a peaceful Revolution To Save San Diego from the consequences of destruction created by the Copley U-T and San Diego’s failed political and economic leaders.

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Don Bauder June 19, 2009 @ 6:23 a.m.

Response to post #1: I understand from insiders that so-called efficiency experts are now going through U-T offices, following workers around, asking them what they do and how they do it. So at least there is some seriousness about profits. Quality journalism? That remains to be seen. Best, Don Bauder

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Visduh June 19, 2009 @ 7:35 p.m.

Nothing I've read or seen makes me think that Platinum Equity has any commitment to journalism at the U-T. They are the sort of operation that goes into and out of "properties" to grab quick gains. Running a metro daily is a long-term, day-in and day-out process of observing human frailty, and reminding the readers of what life is all about.

So, if you think the commitment of journalism under the Copley reign was weak, well, "you ain't seen nothin' yet." It will get worse, much, much worse.

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Don Bauder June 19, 2009 @ 11:11 p.m.

Response to post #3: You have perceptively picked up what a lot of people are thinking. Platinum players are asset strippers and flippers. It is hard to believe they really want to own the U-T for long enough to turn it around. To have a real "commitment to journalism," as you put it, they would have to spend some money hiring dedicated professionals. From what I have seen, I just don't see that. On the other hand, if Platinum's strategy is to flip it, there is a problem: who would buy it, or buy any metro daily? Best, Don Bauder

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Anon92107 June 20, 2009 @ 5:06 a.m.

Response to post #4:

Again: "The younger generations of voters must use The Reader Blogs, Twitter, etc. to produce a peaceful Revolution To Save San Diego from the consequences of destruction created by the Copley U-T and San Diego’s failed political and economic leaders."

The paramount fact is that U-T EdBd has betrayed San Diegans for so long that the new owners can't possibly screw it up any worse.

Your younger Reader readers have been betrayed the most and the U-T has been a dead and buried form of journalism their entire lives.

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Don Bauder June 20, 2009 @ 7:25 a.m.

Response to post #5: There is much wisdom in what you say. Best, Don Bauder

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Visduh June 20, 2009 @ 9:44 a.m.

RE post #5, nothing is ever so bad that it cannot get worse. The U-T will slip further. Don is right in pointing out that if Platinum wanted to have a turnaround, it would invest in talent. Instead it had another round of layoffs that weakened an already-understaffed operation, and eliminated more of its experienced staffers. It retains a weak managing editor and all of the editorial board that it inherited, the places where changes really were needed.

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Don Bauder June 20, 2009 @ 2:57 p.m.

Response to post #7: Yes, the editorial management remains the same, as does the editorial board. You are right: that's where change is desperately needed if the newspaper is to establish credibility. Best, Don Bauder

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anon5 June 20, 2009 @ 9:40 p.m.

Now I am not going to sit here and say that Platinum is in it for the long haul. They are a business. Their job turn the business around and to make money. While you insist that they arent investing, there is no mention of the fact that they have agreed to a contract with a pagination company. Surely your insiders have told you that?

That is much further than Copley ever got.

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Anon92107 June 21, 2009 @ 5:24 a.m.

Response to post #6:

It's time for The Reader to replace the U-T.

The fact is that The Reader is the only source of honest journalism left for San Diegans to read today.

And together with Twitter, The Reader can end the era of political destruction by the U-T/San Diego GOP that has damned near destroyed the San Diego economy with their succession of Golding-Murphy-Sanders puppets.

The U-T/GOP's "strong mayor" tyranny must be overthrown if the younger Reader generations are to have any future quality of life at all.

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MsGrant June 21, 2009 @ 7:32 a.m.

It just got worse. The political cartoons are gone.

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Don Bauder June 21, 2009 @ 8:38 a.m.

Response to post #9: I am not aware that the U-T has entered into a contract with a pagination company. If it's true, I appreciate your sending on the information. The U-T got bids from several companies through the years, but never inked a pact. A pagination system would certainly improve efficiency. It would also make the paper more marketable. As I reported several months ago, the U-T feared it would run out of the materials that make its out-of-date, semi-paginated system run. So full pagination was a necessary step. Best, Don Bauder

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Don Bauder June 21, 2009 @ 8:40 a.m.

Response to post #10: The misnamed strong mayor system must go. Best, Don Bauder

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Don Bauder June 21, 2009 @ 8:44 a.m.

Response to post #11: I haven't noticed that the political cartoons are gone. Steve Breen seems to be there. Best, Don Bauder

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Don Bauder June 22, 2009 @ 10:41 p.m.

Response to post #15: Not sure I get your point. Best, Don Bauder

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MsGrant July 2, 2009 @ 7:40 a.m.

The Sunday edition of UT no longer prints political cartoons in the Dialog section, or any section for that matter.

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Don Bauder July 4, 2009 @ 6:09 a.m.

Response to post #17: I haven't noticed that, but I take your word for it. Best, Don Bauder

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SurfPuppy619 July 4, 2009 @ 4:16 p.m.

The OC Register reprints about 5-8 political cartoons everyday in their online edition-Opinion section, which to me is the heart and soul of politics.

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Don Bauder July 4, 2009 @ 7:57 p.m.

Response to post #19: Not a bad idea, particularly if several different points of view are presented. Best, Don Bauder

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