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RON ARNOLD: SOROS IS FUNDING WAR ON FOX NEWS WITH DIRTY MONEY

by The Examiner
October 28, 2010 12:00 AM
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OPINION

Yes, pro-life can mean pro-birth control
By: Kimberly Ross

Fauci is just a symptom of an incompetent, entrenched bureaucracy
By: Becket Adams

Why does the Left hate success?
By: Jim Nelles



VIDEOS

Reporter’s Notebook: Biden makes 2024 campaign official

The Debrief with Conn Carroll: How consequential is Tucker Carlson's departure
from Fox?

Reporter’s Notebook: What we are learning about the Pentagon leaker

Cammack backs DeSantis's Disney feud: 'Disney inserted themselves into this
fight'



NEWSLETTERS


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delivered right to your inbox.


Media Matters and Tides Foundation have a tough new recruit in their war against
Fox News: People for the American Way. How tough? Behind PFAW's
"ain't-we-wonderful" public face looms a crushing political force.

PFAW is a lobbying organization with its own foundation, two 527 electioneering
groups, a political action committee, and total revenues probably north of $20
million. PFAW is a 501(c)(4) and doesn't reveal its income, but its foundation
alone listed $13.4 million in the most recent report.

That's nothing to trifle with when it comes to flooding advertisers with angry
"Drop Fox News" messages. But it was to be expected: Tides CEO Drummond Pike,
who signed the anti-Fox campaign letter, helped television mogul Norman Lear
create PFAW in 1980.

Since 1999, Tides has given PFAW over $1.5 million, so it's hard to say no to
Drummond.

And, even though George Soros didn't give PFAW a special million-dollar Destroy
Fox News gift like it did Media Matters, his Open Society Foundations have sent
over $3.3 million their way since 1999.

Soros, of course, is good at making big headlines, but he's a lot better at
making big money (Forbes estimates $14.4 billion net worth), which is how he
supports his big global system (more than 60 operations) of big impact
foundations (about $600 million per year).

Michael T. Kaufman, a Soros biographer, made two intriguing points about Soros
the man: As a child, he felt a messianic calling, and as an adult he underwent
extensive psychotherapy that only made it worse.

So, while Soros thinks he's messiah of the world, he's actually the messiah of
money. His Soros Fund Management's remarkably successful hedge funds, including
its flagship Quantum Fund, invest according to Soros' uncanny feel for when to
hold 'em and when to fold 'em.

His company oversees about $24 billion, which it uses to buy large stakes in
just about the dirtiest, most politically incorrect investments you can imagine.
Right now it's concentrated in energy, transportation, financial, retail
(including Chinese drug stores) and other industries.

Soros holds Ford Motor, Duke Energy, El Paso (natural gas), Encana (Canada,
natural gas), BPZ Resources (oil and gas, no relation to BP, which he does not
hold), Hess, Anadarko Petroleum, ConocoPhillips, ExxonMobil, Occidental
Petroleum, Devon Energy, smaller amounts of Chesapeake Energy, Apache and
Marathon Oil. You get the point -- and that's not half of it.

He holds McDonald's, Wendy's, Arby's, Yum! Brands, Burger King Holdings,
PepsiCo, Coca-Cola, and so on down the fast-food list.

He holds MFA Financial (mortgage-backed securities); Philip Morris International
(tobacco products); Alliance One International (tobacco products); Autochina
International (sells and services cars in China); Global Industries (offshore
oil and gas rigs, many built in foreign locations); Liberty Global
(communication cables, based in Europe).

Oh, yes: Soros bought a position in Lehman Brothers just before the investment
bank failed in 2008. (Read his whole June 30, 2010, SEC Form 13F Holdings Report
at left-tracking-library.org/soros-and-pike.htm.)



In all, it's possible that Soros has helped ship more American jobs overseas,
made more people homeless and sick, nudged more people into obesity, spewed more
CO2 into the air, bought into more corporations that would outrage the green
lefties, than any investor on Earth.

To give him his due, Soros holds First Solar, GT Solar, SolarWinds (but that's a
software company), and Solar Capital (but that's an investment firm that buys
mostly subordinated debt -- how names can fool us).

I suggest that Media Matters, Tides Foundation, People for the American Way and
all the folks who take money from Soros for the war on Fox News accept no more
of his dirty money until he cleans up his investment act. Then play
holier-than-thou with your fellow citizens.

Examiner contributor Ron Arnold is executive vice president of the Center for
the Defense of Free Enterprise.


OPINION

Yes, pro-life can mean pro-birth control
By: Kimberly Ross

Fauci is just a symptom of an incompetent, entrenched bureaucracy
By: Becket Adams

Why does the Left hate success?
By: Jim Nelles



VIDEOS

Reporter’s Notebook: Biden makes 2024 campaign official

The Debrief with Conn Carroll: How consequential is Tucker Carlson's departure
from Fox?

Reporter’s Notebook: What we are learning about the Pentagon leaker

Cammack backs DeSantis's Disney feud: 'Disney inserted themselves into this
fight'



NEWSLETTERS


Sign up now to get the Washington Examiner’s breaking news and timely commentary
delivered right to your inbox.

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