Editor:
“Trust” has meaning in everyday life — in relations between and among people. My dictionary devotes 3 1/4 inches to the word “trust.”
In a free society such as the United States of America, publically owned companies serve their owners — the shareholders. When the shareholder is dissatisfied with the performance of a company, he/she can immediately sell their shares. If enough shareholders sell their shares, the price of the shares goes down.
Such is the case with 21st Century Fox. Its share price reached a high of $31 to $32 shares at the end of March this year.
The media began discussing the possibility of Fox replacing Bill O’Reilly, its most popular host. The stock price began a gradual decline until the end of April when it reached a price of $30 a share.
O’Reilly was fired April 19. At the beginning of May, the stock price began a sharp decline to a current price of $27 a share.
In business as in politics, the people who “trusted” Fox News have spoken.
Bill Farout
Idyllwild
