Carlos Slim, the billionaire Mexican businessman who made his fortune in telecommunications in his home nation and throughout Latin America, has purchased a 6.4% stake in the New York Times company, making him the third-largest investor behind Harbinger Capital Partners and the Sulzberger family. Slim has declared that the investment was financial - indicating he expects a recovery in the shares.At this point, Slim and two hedge funds (Harbinger and Firebrand Partners) collectively hold more than 30% of the Times Class A shares. Yet the family retains control through ownership of the Class B Shares-an inherently inequitable type of monopoly power.Ironically, Slim knows quite a bit about the benefits of holding monopoly power. His control of the Mexican telecommunications markets has been protected through his influence with the Mexican government - a sweetheart arrangement through which he extracts sky-high profits from Mexican citizens.Others have walked down that long...(Read Full Post)