What is to Become of Listin Diario?

Apr 26, 2002
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The headline in the Listin Diario, the oldest (largest?) newspaper in the DR, today was not about the Baninter fraud (only the largest in the nation's history with the potential to bring down the financial system), but was rather about the government takeover of the financial/media empire of Ram?n B?ez Figueroa, including Listin itself.

Does this mean that Hippo gets a newspaper? Or will it be put up for sale? Would that sale occur before or after the election? Under the current circumstances (economic decline, media saturation), would anyone buy it? Or will it be sold for practically nothing to PRD hacks? Any guesses?
 

Cleef

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Feb 24, 2002
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Blue License Plates

Drove by LD yesterday around 4 and the entire parking lot, the side street, and on Lincoln itself was filled (double parked if you can believe it) with Jeepetas and other gaudy vehicles with blue license plates.

Just a curious observance.
 

PJT

Silver
Jan 8, 2002
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Just a curious observance

A blue day for the Listin, the government making sure the "official" version of the story hits the press.

The whole country has been mugged again. Regards, PJT
 

Golo100

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Jan 5, 2002
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here's my two cents

I just sent letters to WAN(World Association of Newspapers) and to the Interamerican Press Society(SIP or IPS) protesting the incursion by Hippo's military boots into the Listin Diario and other media institutions. Maybe we should all do the same.

Hippo is trying to install a dictatorship. I would not be surprised if he conducts a self-coup now that he has placed his key military officers in every top precinct in the country. Most generals now are PPH sympathizers who have been richly rewarded. He may pull this if he sees his presidential ambition in danger from Leonel Fernandez.

The Baninter show at the palace was directed at Leonel Fernandez. Notice that he even sacrificed a little of himself by placing his name in the list of gifts received from Ramon Baez Figueroa "Figureo" (a jeepeta) as long as he could get Leonel's name in there with bigger things(a jeepeta, funding for his Global Foundation which could be many millions and other things) and force Leonel to be on the defensive trying to explain this whole deal.

Hippo feels the rest of the goodies he has gotten may get lost in the shuffle. But take my word for it, Hippo got more than the Sultan of Brunei's son on his first year's birthday. In fact, Hippo has yet to pay for an airline ticket since he took office, and even before that. He probably has a seat named after him in Figureo's plane and helicopters and a private stateroom in his $18 million dollar yatch.

TW
 

Golo100

Bronze
Jan 5, 2002
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From today's Miami Herald

"Deadline not paper's only pressure"
also titled "Seized Paper Carries on Despite Scandal", Cover page, Business section of Miami Herald's Latin version

Listin Diario tries to deal with week 2 of seizure
BY JANE BUSSEY
jbussey@herald.com

SANTO DOMINGO - Police officers and newspaper managers were shoving and shouting the day Dominican authorities seized the country's oldest newspaper. But as the daily's future hung in the balance, it was its reporters and editors who kept the incident from ballooning into an international outrage.

The government alleged that the owner of Listin Diario carried out a multimillion-dollar loan fraud and that the newspaper chain was the property of the collapsed Banco Intercontinental, now in government hands.

The newspaper's owner and its top editors, meanwhile, denounced what they called an assault on the freedom of the press.

After more than a dozen police officers and two magistrates arrived to carry out the seizure in a confrontation with management on May 15, shaken editors and reporters retreated to the newsroom -- and voted to stay and work.

''We decided the newspaper deserved to survive,'' said Alicia Estev?z, the highest-ranking editor to remain after two editors above had her resigned. ''We wanted to put out the newspaper,'' she said almost a week later.

All agreed the decision had to be unanimous: Either they would all stay, or they would all walk. It would be a decision heavily influenced by economic need, for most of them could not afford to be without jobs in the Dominican Republic's worsening economy.

CLANDESTINE MEETING

The decision to stay saved the day for President Hip?lito Mej?a, who had met in secret with one of the top editors prior to the seizure to negotiate the ouster of Listin Diario's publisher and editor.

With Listin Diario appearing daily on newsstands and front doorsteps, the takeover caused barely a ripple during Mej?a's trip to meet with President Bush and other U.S. officials Tuesday and Wednesday.

Questioned in Washington, Mej?a insisted that he would respect the freedom of the press. His words were echoed by Emilio Herasme Pe?a, a respected journalist handpicked to take the helm of the newspaper after most recently having been a spokesman for the Customs Agency.

''I can guarantee you that there is more freedom of the press here today than before,'' Herasme said, pointing to a front-page story on the political opposition's charge that the president ordered the seizure as part of an agenda, specifically his controversial decision to run in the presidential election to be held in 10 months.

Estev?z said that no one had been fired and that there had been no censorship so far. On Wednesday, she wrote in a column that she and most of her co-workers had stayed to fulfill their duty to inform.

But the column also raised the possibility that the experiment to run the newspaper without government interference might fail.

And, outside the paper, the seizure has shaken many sectors of Dominican society.

''This deeply affected an institution that is fundamentally a public service,'' said Miguel Franjul, a former executive editor of the paper who resigned rather than be fired. ``What objective could this have if it isn't to promote the interests of the president?''

113 YEARS OLD

The paper, which celebrates its 114th anniversary in August, was created as a a sheet listing steamship's sailing times, hence its name, which translates to The Daily Lists.

Despite having been closed for more than 20 years under the dictatorship of Rafael Trujillo, as the island nation's largest and oldest newspaper, it had a reputation and respect akin to that of The New York Times. (The Herald's international edition is printed on Listin Diario presses.)

But its current problems can be traced to the $2.2 billion-plus collapse of Banco Intercontinental, known here as Baninter. Listin Diario was purchased in 2000 by Bearpark International, which is owned by Ram?n B?ez Figueroa, the high-flying owner of Baninter.

The day before the takeover, B?ez and two other bank executives were jailed on charges that included fraud.

The next day, the government, arguing that the bank had destroyed the records of a $65 million loan to B?ez and Bearpark to purchase the Listin Group, ordered the paper's takeover, along with that of nearly 70 radio stations and three television stations.

Lawyers for B?ez are seeking an injunction against the seizure. A federal court is to hold its first hearing today.

B?ez's lawyers and others -- including the leading opposition to Mej?a -- call the seizure political. Central Bank lawyers concede that authorities have not taken over any other company from among the more than 180 held by B?ez and related shareholders.

And even Herasme admits the paper was a thorn in the government's side: ``The paper began to be used as an instrument of defense. Who is going to leave the [Catholic] Church in the hands of Luther?''

NO BIG SURPRISE

Dominicans argue that, in a country where the personal exercise of presidential power is frequent, no one should be surprised when institutions don't stand up to the pressure.

''In some ways, this shows that the institutions in this country are really at risk,'' said Julio Minaya, a professor of philosophy at the Autonomous University of Santo Domingo.

``Listin Diario is more than a newspaper; it is an institution.''

Courtesy of TW
 

Chirimoya

Well-known member
Dec 9, 2002
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That'll do nicely!

Today though there is a proposal for the List?n to be returned to Ramon B?ez Romano (Figureo Sr.) in return for his paying back the missing billions.

Do you think the government will accept cash, cheque, or perhaps a Baninter credit card?

Chiri
 
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Apr 26, 2002
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Under the same circumstances in the USA, the newspaper would be placed under the control of the bankruptcy court, which would appoint a trustee to be responsible for it. The trustee would then appoint a board of management subject to court approval. I realize that this might not work in the DR because the courts are politically tied to the executive branch.