This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Five Dumbest Things on Wall Street This Week: Oct. 19

Stocks in this article: C JCP CLWR MSFT P

2. (More) News Corp. Nonsense

Rebekah Brooks may have left News Corp. (NWSA) in disgrace, but she certainly didn't leave broke.

The former head of News Corp.'s U.K. newspaper business was blessed with a payout package worth about $11.3 million after the unit's phone-hacking scandal led to her ouster, according to a Bloomberg report. Apparently Brooks's going-away gift also included legal fees, cash and a chauffeur-driven car, said Bloomberg's source, who preferred to remain nameless since Brooks' payoff was non-public information.

Right on Rupert! It's nice to see you rewarding your loyal soldiers for taking bullets -- or cream pies -- for you.

Brooks, who left the company in July 2011, will certainly need to muster all the support she can get. She and a host of other over-eager so-called journalists will stand trial next year for the crimes of intercepting the voice mail of celebrities, lawmakers and crime victims, and then conspiring to cover it up.

As to whether she will continue to cover up any alleged indiscretions made by her benefactor Rupert, well, that remains to be seen. We imagine that $11.3 million and a personal driver probably go a long way in getting somebody to keep their mouth shut. Moreover, it's a small price to pay considering the company has spent more than $315 million for legal fees, settlements and the elimination of its News of the World tabloid.

And speaking of shutting people up -- and out -- Rupert confirmed Tuesday that shareholders rejected a proposal to split the top two roles at the media giant and eliminate the company's dual stock capital structure at the annual shareholder meeting in Los Angeles. Investors mounted the campaign to try and rein in the Murdoch family's power at the company and increase accountability in the aftermath of this embarrassing and costly episode.

Oh please. As if these dissident shareholders ever had the slightest chance at taking power from the Murdoch clan. Forget a pie in the face. That whole idea was just a pie in the sky.

4 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs