Ben Gilbert: belief

Transcript context

…Yeah. He had rounded up the money from some people in New York, some people in Tennessee. I think he waved around the letter from Grover Cleveland to a bunch of people. That was a small part of the consideration. The other part is he uses seller's notes again of $600,000 in debt owed back to the creditors that they will pay off over some number of the coming years from profits he'll generate by running this paper that has 9000 subscribers and is bleeding (I think) on the order of about half-a-million dollars a year at this point in losses. You can see if you're Trask or the existing bankruptcy committee, you're like, I think we'll take the merger. This doesn't sound any kind of guarantee. This guy that no one's ever heard of, he’s coming in from Tennessee. You got to sympathize with the original plan. Totally, but somehow he gets it done. He emerges with The New York Times and he has just one problem which is, okay, how are you going to turn this thing around?…

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