“Even as the flames of the scandal begin to edge closer to Mr. Murdoch’s door, anybody betting against his business survival will most likely come away disappointed. He has been in deep trouble before and not only survived, but prospered. The News Corporation’s reputation may be under water, but the company itself is very liquid, with $11.8 billion in cash on hand and more than $2.5 billion of annual free cash flow.
“Still, money will fix a lot of things, but not everything. When you throw money onto a burning fire, it becomes fuel and nothing more.”
Troubles That Money Can’t Dispel, by David Carr, NY Times, July 17, 2011
Guh, I feel dirty just reading about that man.