The Billionaire Who Destroyed His Newsroom When the Employees Voted to Join a Union

Diane Ravitch's blog

This is a sad but instructive story of a billionaire, Joe Ricketts, who closed down his two popular news websites out of spite. He was angry because his workers voted to unionize.

Maybe it meant that his staff would be paid more. But the owner could afford it. He was angry because he didn’t want a union. Period.

Hamilton Nolan explains what happened:

“Joe Ricketts, the founder of TD Ameritrade whose family owns the Chicago Cubs, is worth more than $2 billion. He is the owner of DNAinfo, a local news site that covered New York City and Chicago with unparalleled skill, as well as Gothamist, a network of city-oriented websites that DNAinfo bought this year. He is also a major right-wing political donor of rather flexible morality. During the last presidential primaries, Mr. Ricketts spent millions of dollars funding ads that portrayed Donald Trump as an untrustworthy, dangerous misogynist…

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