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George Clooney backs up Sony’s strategy and says Loeb is a “carpet bagger”

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A couple of months ago Daniel Loeb, hedge fund manager and owner of a large 7% Sony share criticized the Sony company strategy. He recently also criticized the Sony movie business. But this time Sony got a very unexpected backup from George Clooney. Deadline.com reports Clooneys words:

“Loeb calls himself an activist investor, and I would call him a carpetbagger, and one who is trying to spread a climate of fear that pushes studios to want to make only tent poles… Why is he buying stock like crazy if he’s so down on things? He’s trying to manipulate the market. I am no apologist for the studios, but these people know what they are doing.”

How any hedge fund guy can call for responsibility is beyond me, because if you look at those guys, there is no conscience at work. It is a business that is only about creating wealth, where when they fail, they get bailed out and where nobody gets fired. A guy from a hedge fund entity is the single least qualified person to be making these kinds of judgments, and he is dangerous to our industry.”

Well said George!

And you may read the latest article on The Verge too:

In the end, Sony saw Loeb’s proposal as little more than a distraction along the way to executing Hirai’s plan. And, with recent successes in smartphones and even televisions, it’s understandable that the company would want to keep its focus on the path ahead.

Now let’s see if the soon to be announced new QX and NEX cameras will be another success!

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