Sam Zell Admits to Buyer's Remorse
Possibly ‘buyer’s remorse’ is the nice way to phrase what Sam Zell has been feeling these days, but here’s what he had to say in an interview with Bloomberg Television today about his 2007 acquisition of Tribune Co.:
“By definition if you bought something and it’s now worth a great deal less, you made a mistake, and I’m more than willing to say that I made a mistake. I was too optimistic in terms of the newspaper’s ability to preserve its position.”
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