In exchange for its $242 million, [the New York Times] is paying [Carlos Slim] an annual interest of 14% on the full $250 million. Over six years, that will add up to $210 million. The cost of this money, in other words, is almost as much as the money itself.
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In exchange for its $242 million, [the New York Times] is paying [Carlos Slim] an annual interest of 14% on the full $250 million. Over six years, that will add up to $210 million. The cost of this money, in other words, is almost as much as the money itself.
—Pretty sure Sulzberger could’ve gotten a better deal if he put that $250M loan on a credit card.