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Kurt Eichenwald Profile picture
@kurteichenwald
Aug 19, 2019 • 4 tweets • 3 min read • Read on X
Sigh. Trump once again shows why he's the dumbest businessman I ever met in 2 decades of covering the financial world.

He says the @nytimes is "losing a fortune" and has a "massive unfunded liability." Let's start with profits - here they are, year for year, over past 3 years...
@nytimes 2...and this is in a struggling industry.

As for the "unfunded liability," Don is talking about a pension liability. There is currently a dispute - the Times has already won once - regarding withdrawal liability and whether the Segal Blend is appropriate for calculation. And...
@nytimes ...while the Times won once in court, its been appealed. Now...the IMPORTANT thing. The Times is the test case. About 1,000 different companies are affected by this calculation dispute, which is why so many companies have thrown in their opinions, too... mwe.com/insights/new-y…
@nytimes ...Bottom line: The Times is one of the most profitable papers, profits gone up year on year, it won case about unfunded liability and is on appeal, and if Trump wants to declare the court victory is a loss, then he is claiming 1,000 companies have unfunded liability.

#Dimwit

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More from @kurteichenwald

Kurt Eichenwald Profile picture
Sep 6, 2025
Trump continues to show he is an idiot with absolutely no knowledge of American history or the history of our Armed Forces. Pumpkinhead declares that the Department of War was renamed the Department of Defense because it was "woke." In fact DOW was NEVER renamed DOD..../1
... DOW was renamed in 1947 as the National Military Enterprise only one reason: The armed forces were being unified for the first time. The Department of War only oversaw the Army and later the Navy. With the introduction of the Air Force, Truman - and the GOP Congress.../2
...decided they needed to consolidate all of the civilian leadership of each branch into one entity. Keeping something with the same name when it was a different beast struck GOPrs and Dems as foolish. So they renamed it as the National Military Enterprise.../3
Read 6 tweets
Kurt Eichenwald Profile picture
Apr 28, 2025
With us now learning that Redstone from Paramount is putting pressure on 60 Minutes to trim its journalistic sails to keep Trump happy and help her with a merger, time to tell a story of journalism from another era. This is a story about greatness at the @nytimes. I was....
...conducting a running investigation of the American Express Company, which was engaged in a lot of stuff it shouldn't have been. Some brutal stories upended major deals they were trying to make, etc. I won one of the monthly Publisher's Awards ($500) AO Sulzberger Jr. gave..
...winning for my American Express work. Three months after I finish, my boss comments how much he admired my faith in the paper. I had no idea what he was talking about. "Wait, you don't know?" he asked....
Read 7 tweets
Kurt Eichenwald Profile picture
Apr 18, 2025
In just three months, Trump has:
1. Wrecked decades-long relationships with USA's best allies, who now have said that relationship is over.
2. Sent global stocks markets into a tailspin.
3. Sent bond markets into collapse.
4. Moved world against dollar as global currency.../1
...5. Lied to courts & refused to abide by rulings, in what could be the greatest breakdown in Constitutional government since founding.
6. Ignored due process before shipping someone to a torture prison.
7. Wistfully discussed his desire to send Americans to torture prisons.../2
...8. Demonstrated, once again, that he is too stupid to understand what tariffs are or how they work.
9. Threatened the independence of the federal reserve.
10. Demanded that the federal government get to determine what private colleges teach.
11. Crippled the FDA, CDC..../3
Read 5 tweets
Kurt Eichenwald Profile picture
Apr 17, 2025
People looking only at the stock market are missing the full magnitude of Trump's economic incompetence. His "yes-no-maybe" idiocy with tariffs is leaving equity investors with no sense of which way to go. But worse is the bond market..../1
...the near-cliche of markets it that when investors sell stocks, they rush to US bonds. It's a rare time in our history that this standard response does not happen. But...now it's not. The largest holders of our debt are instead scooping up short-term t-bills and gold.../2
...this means that they are losing faith - or certainty - in the US long term economic future. The only way to deal with this is to increase interest rates - thus providing bond investors with higher rewards for taking what they perceive as higher risk..../3
Read 16 tweets
Kurt Eichenwald Profile picture
Jan 2, 2025
As a German citizen (I hold dual citizenship) Im disgusted by the ignorance of @JDVance & @elonmusk in promoting AfD as if it's a normal party. Perhaps they aren't just ignorant & AfD actually reflects their viewpoints, but there is a reason its founders resigned, the German.../1
...courts have deemed them an extremist organization (which, if you creep 2 far in Germany, can get you banned), why there have been national protests against them, and why the German government's Bundesamt für Verfassungsschutz classified Der Flügel, AfD's far-right faction.../2
whose growth of control of AfD is what led to the resignation of its founders, as "a right-wing extremist endeavor against the free democratic basic order" and as "not compatible with the Basic Law." AfD sued, but a court ruled "there were sufficient factual indications.../3
Read 8 tweets
Kurt Eichenwald Profile picture
Oct 26, 2024
As someone who has been a journalist for almost 40 year, working as a senior writer at the New York Times, Newsweek, etc, the decision by @WilliamLewis, a Murdoch alum, to cripple the @washingtonpost by abandoning endorsements, is one of the most craven actions I've ever seen../1
...taken in the industry. Make no mistake, this wasn't just cowardice. It was @WilliamLewis and perhaps @JeffBezos dragging a now-once great paper into the sewer because of their own political beliefs. If Lewis et al wanted to abandon endorsements, fine. But you don't do it.../2
@WilliamLewis @JeffBezos ...days one of the most consequential elections in history. We have on one side a convicted felon, deemed an ignorant fascist by his own people, who half this country believes is, in fact, a fascist, and on the other side a woman half the country believes is a communist.../3
Read 14 tweets

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