When you got a demand issue it's hard to imagine the stock market at an all-time high.

The question is not do you take money out of stocks and put it into real estate, or the reverse. There's so much money out there looking for a home. I don't think it's either/or.

When you got a demand issue it's hard to imagine the stock market at an all-time high.

The single biggest issue that I'm very sensitive to is inflation. I'm very concerned that this extended period where the interest rates were quite low and stimulated a lot of activity could breed inflation and create a problem for us.

The reality is that I need to be challenged and interested, as long as the risk and reward is in line.

Everyone likes pussy. It's un-American not to like pussy.

When all is said and done, what must be remembered is a newspaper is a business. It used to be a fabulous business that made extraordinary margins. It's now a very good business with appropriate margins.