I can’t believe our luck lately at Trading 8s. My friend and mentor Reese Schonfeld has agreed to contribute this post (and hopefully more to come). Reese was the co-founder, President, and CEO of CNN. Yes, that CNN. (Its ratings have declined ever since he left.) He was also the co-founder and President of the Food Network. Before earning his reputation as “The Most Dangerous Man in Television,” he worked for United Press Movietone News, after which he became Vice President of United Press International Television News. He later founded the Independent Television News Association, the Medical News Network, and the world’s first 24-hour local news station. Like his friend Norman Horowitz, Reese is uncommonly brilliant and kind. — AWO
The leaderless “democratic” Egyptian revolution, which began with so much hope, has now entered its second phase. Even as I write this, hundreds of thousands of Egyptians are thronging Tahir Square, celebrating their victory over Mubarak while training their sights on the new military government. Middle-class private entrepreneurs protest the military government’s ownership and control of businesses ranging from the manufacturing of jeeps to the sale of olive oil. They want those businesses privatized.
Meanwhile, The New York Times reported, “Egyptian workers and the country’s military chiefs squared off again on Wednesday as strikes and labor protests spread to the Cairo airport and the nation’s largest textile factory…” Many of the strikers demand a return to “socialism” when, under former strongman Gamal Abdel Nasser, the state owned all the major industries. Continue reading “Waiting for Robespierre”