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After blowing up ties with the media, Netanyahu now fears taking questions in wartime

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11 months ago

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The last time that Prime Minister Benjamin Netanyahu sat in an Israeli television studio for an interview was April 13, 2023.

The interview, which aired on the firmly pro-Netanyahu Channel 14, had the benign atmosphere of a group of friends chatting. The “interviewers” were the same people who sang Netanyahu’s praises in the run-up to November’s election.

What’s certain is that the Israeli public did not receive any important information from the broadcast, only some slogans about the so-called anti-Netanyahu propaganda airing on Israel’s mainstream Channels 11, 12 and 13, which, according to the prime minister, were obscuring the truth about his greatness from the public.

At the start of the conversation with his friend/fan Yinon Magal, Netanyahu accused the very channel he was being interviewed by of insufficiently covering his successes.

“If you listen to the media outlets, including this studio, the things we achieve are not covered. Why? Because they mainly cover the [anti-judicial overhaul] demonstrations. I’ve made a list of all the things that the press doesn’t show you.”

We’ve known for years that Netanyahu’s appetite for positive coverage is insatiable. He hasn’t spoken to local outlets, not even Channel 14, after that appearance in April. He has given over 20 interviews since then to English-language channels abroad. But he doesn’t take questions in Hebrew.

He is a prime minister on trial for corruption and a huge portion of the public has lost faith in him, but he doesn’t converse with his people in their language. And since the murderous attack by Hamas on Israel 15 days ago, with over 1,400 people slaughtered, he has not presented himself for any questioning by the media. Even in this darkest hour, with Israel plunged into war by the Hamas onslaught across a border our political and military leadership failed to protect, Netanyahu has not consented to any kind of interview or serious interaction with the Israeli media and, by extension, the public.

He has published a few videos — and caused mass panic when he delivered a video message on a Friday night, a very rare occurrence on the Sabbath. At the time, people thought he had something important to say, six days into the war, but all he wanted to do was improve his image after realizing that US President Joe Biden had already met with families of the hostages. And, even then, Netanyahu barely addressed the issue.

“I spoke today with some of the families who have lost their loved ones, or who do not know their fate. Their worlds have fallen apart,” he said during the broadcast — the first time a prime minister had addressed the nation on Shabbat since 1994. This was the only new fact he shared, at the end of another day of fighting on the Gaza border.

For years, Netanyahu has been claiming in private conversations — and his supporters and spokespeople echo his words with unquestioning loyalty — that the reason he doesn’t do interviews is that Israeli interviewers treat him with disrespect. This claim is utter nonsense.

Israeli journalists interviewing Netanyahu have always asked pointed questions, have never done so disrespectfully, and have been prepared to follow directions issued by his office.

For example, they interviewed the prime minister in locations that were convenient for him, despite the fact that during the last five rounds of elections, he was supposed to be interviewed under the same conditions as any other candidate. But he was accorded more respect, the kind reserved for heads of government.

Netanyahu never once gave the media the same respect they gave him.

Then-opposition leader Benjamin Netanyahu speaks at a Channel 14 conference in Jerusalem, October 23, 2022. (Yonatan SIndel/Flash90)

The last time Netanyahu agreed to be interviewed on Kan, Israel’s state broadcaster, was on September 14, 2019 — over four years ago.

He was last interviewed on channels 12 and 13 on March 20, 2021, over two and a half years ago. Subsequently, he granted countless interviews to Channel 14 — a channel aimed squarely at the Netanyahu-supporting right-wing Israel public.

Now, during a war, he is shaking in his boots at the idea of talking to the press. The man who wrecked his relationship with journalists across Israeli media is unable to hold a press conference or even give an interview while the country he leads is at war.

In the same hour-long conversation with Channel 14 on April 13, Netanyahu repeated many tired clichés: “I say to our enemies, you will not harm us. The people of Israel are alive, strong, and victorious. And now I’ll answer your question, Yinon. Where would you like to start? The economy?”

Instead, Magal asked him about an assessment made by Israel’s intelligence agencies in which they determined there to be a growing risk of war, and asked him if it was a credible threat. And Netanyahu answered him with his characteristic smugness: “I think the claim is exaggerated, but we’re always prepared for this possibility. We are preparing for threats in every direction.

“We hit the Iranians, struck Syria, and in Lebanon we attacked Hamas and Hezbollah targets. Hamas will not open another front,” he continued.

Then-opposition leader Benjamin Netanyahu speaks at a conference organized by Channel 14 in Jerusalem, October 23, 2022. (Yonatan SIndel/Flash90)

The interview continued in the same vein: The media doesn’t praise him enough; he, the self-proclaimed Mr. Security, is operating on all fronts (hollow words that mean nothing, as we’ve learned in retrospect); and the media is creating unnecessary panic on the issue of judicial overhaul.

Only one answer given by Netanyahu that day has turned out to be accurate.

“If our enemies think that this internal debate will prevent the public from presenting a united front [in the face of danger], they are mistaken. They may be tempted to attack us, because they think Israel is collapsing. But we are a strong people in a strong country,” Netanyahu said, in an accurate prediction of the sheer number of reservists and volunteers who would come together in the face of war.

The price of destroyed media relations

As mentioned, Netanyahu has been claiming for years that he does not talk to the Israeli media because of supposed disrespect and blunt questions. Even if this were true, it wouldn’t be reason enough for the leader of a democratic country to ignore the media. Dialogue with the public is a central principle of democracy.

Just as Netanyahu trampled on public services, allowed unrestrained firebrands into his cabinet, distorted the entire structure of government, and attacked the judiciary, so too he distorted the relationship between the elected leader and the press.

Prime Minister Benjamin Netanyahu sits down with Channel 14’s “The Patriots,” on April 13, 2023. (Channel 14 screenshot: used in accordance with Clause 27a of the Copyright Law)

All the prime ministers who came before him — Yitzhak Rabin, Ehud Barak, Ehud Olmert, Ariel Sharon, and Shimon Peres — were criticized by the media. So what? That didn’t stop them from continuing to consent to interviews and holding press conferences.

So where are we now? During an all-out war, Netanyahu is afraid to speak and has no journalists (with the exception of a group of Channel 14 bootlickers) with whom he has maintained any sort of relationship.

He’s called [Hebrew link] the heads of channels 12, 13 and Yedioth Ahronoth in distress, begging fervently that they stop slandering him live on air or wait for six months after the end of the war before crucifying him, because he argues that such criticism hurts national morale.

If he had maintained any kind of reasonable working relationship with commentators, journalists and reporters over the last 14 years, he might have had a chance. But he’s lost the trust of most of them — and in this time of emergency, public outrage has spilled over.

Is there a single democratic country in the world with a leader who doesn’t hold press conferences in the country’s native tongue for years on end, who doesn’t allow interviews, and who doesn’t answer questions? Having ignored the fundamentals of public discourse, in this area, along with many others, Netanyahu is an overwhelming failure.

 

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Trump could cash out his DJT stock within weeks. Here’s what happens if he sells

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3 weeks ago

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August 23, 2024

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Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.

Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.

Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.

Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.

Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.

Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.

Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.

As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.

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Arizona man accused of social media threats to Trump is arrested

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3 weeks ago

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August 23, 2024

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Cochise County, AZ — Law enforcement officials in Arizona have apprehended Ronald Lee Syvrud, a 66-year-old resident of Cochise County, after a manhunt was launched following alleged death threats he made against former President Donald Trump. The threats reportedly surfaced in social media posts over the past two weeks, as Trump visited the US-Mexico border in Cochise County on Thursday.

Syvrud, who hails from Benson, Arizona, located about 50 miles southeast of Tucson, was captured by the Cochise County Sheriff’s Office on Thursday afternoon. The Sheriff’s Office confirmed his arrest, stating, “This subject has been taken into custody without incident.”

In addition to the alleged threats against Trump, Syvrud is wanted for multiple offences, including failure to register as a sex offender. He also faces several warrants in both Wisconsin and Arizona, including charges for driving under the influence and a felony hit-and-run.

The timing of the arrest coincided with Trump’s visit to Cochise County, where he toured the US-Mexico border. During his visit, Trump addressed the ongoing border issues and criticized his political rival, Democratic presidential nominee Kamala Harris, for what he described as lax immigration policies. When asked by reporters about the ongoing manhunt for Syvrud, Trump responded, “No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys.”

This incident marks the latest in a series of threats against political figures during the current election cycle. Just earlier this month, a 66-year-old Virginia man was arrested on suspicion of making death threats against Vice President Kamala Harris and other public officials.

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Trump Media & Technology Group Faces Declining Stock Amid Financial Struggles and Increased Competition

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3 weeks ago

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August 20, 2024

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Trump Media & Technology Group’s stock has taken a significant hit, dropping more than 11% this week following a disappointing earnings report and the return of former U.S. President Donald Trump to the rival social media platform X, formerly known as Twitter. This decline is part of a broader downward trend for the parent company of Truth Social, with the stock plummeting nearly 43% since mid-July. Despite the sharp decline, some investors remain unfazed, expressing continued optimism for the company’s financial future or standing by their investment as a show of political support for Trump.

One such investor, Todd Schlanger, an interior designer from West Palm Beach, explained his commitment to the stock, stating, “I’m a Republican, so I supported him. When I found out about the stock, I got involved because I support the company and believe in free speech.” Schlanger, who owns around 1,000 shares, is a regular user of Truth Social and is excited about the company’s future, particularly its plans to expand its streaming services. He believes Truth Social has the potential to be as strong as Facebook or X, despite the stock’s recent struggles.

However, Truth Social’s stock performance is deeply tied to Trump’s political influence and the company’s ability to generate sustainable revenue, which has proven challenging. An earnings report released last Friday showed the company lost over $16 million in the three-month period ending in June. Revenue dropped by 30%, down to approximately $836,000 compared to $1.2 million during the same period last year.

In response to the earnings report, Truth Social CEO Devin Nunes emphasized the company’s strong cash position, highlighting $344 million in cash reserves and no debt. He also reiterated the company’s commitment to free speech, stating, “From the beginning, it was our intention to make Truth Social an impenetrable beachhead of free speech, and by taking extraordinary steps to minimize our reliance on Big Tech, that is exactly what we are doing.”

Despite these assurances, investors reacted negatively to the quarterly report, leading to a steep drop in stock price. The situation was further complicated by Trump’s return to X, where he posted for the first time in a year. Trump’s exclusivity agreement with Trump Media & Technology Group mandates that he posts personal content first on Truth Social. However, he is allowed to make politically related posts on other social media platforms, which he did earlier this week, potentially drawing users away from Truth Social.

For investors like Teri Lynn Roberson, who purchased shares near the company’s peak after it went public in March, the decline in stock value has been disheartening. However, Roberson remains unbothered by the poor performance, saying her investment was more about supporting Trump than making money. “I’m way at a loss, but I am OK with that. I am just watching it for fun,” Roberson said, adding that she sees Trump’s return to X as a positive move that could expand his reach beyond Truth Social’s “echo chamber.”

The stock’s performance holds significant financial implications for Trump himself, as he owns a 65% stake in Trump Media & Technology Group. According to Fortune, this stake represents a substantial portion of his net worth, which could be vulnerable if the company continues to struggle financially.

Analysts have described Truth Social as a “meme stock,” similar to companies like GameStop and AMC that saw their stock prices driven by ideological investments rather than business fundamentals. Tyler Richey, an analyst at Sevens Report Research, noted that the stock has ebbed and flowed based on sentiment toward Trump. He pointed out that the recent decline coincided with the rise of U.S. Vice President Kamala Harris as the Democratic presidential nominee, which may have dampened perceptions of Trump’s 2024 election prospects.

Jay Ritter, a finance professor at the University of Florida, offered a grim long-term outlook for Truth Social, suggesting that the stock would likely remain volatile, but with an overall downward trend. “What’s lacking for the true believer in the company story is, ‘OK, where is the business strategy that will be generating revenue?'” Ritter said, highlighting the company’s struggle to produce a sustainable business model.

Still, for some investors, like Michael Rogers, a masonry company owner in North Carolina, their support for Trump Media & Technology Group is unwavering. Rogers, who owns over 10,000 shares, said he invested in the company both as a show of support for Trump and because of his belief in the company’s financial future. Despite concerns about the company’s revenue challenges, Rogers expressed confidence in the business, stating, “I’m in it for the long haul.”

Not all investors are as confident. Mitchell Standley, who made a significant return on his investment earlier this year by capitalizing on the hype surrounding Trump Media’s planned merger with Digital World Acquisition Corporation, has since moved on. “It was basically just a pump and dump,” Standley told ABC News. “I knew that once they merged, all of his supporters were going to dump a bunch of money into it and buy it up.” Now, Standley is staying away from the company, citing the lack of business fundamentals as the reason for his exit.

Truth Social’s future remains uncertain as it continues to struggle with financial losses and faces stiff competition from established social media platforms. While its user base and investor sentiment are bolstered by Trump’s political following, the company’s long-term viability will depend on its ability to create a sustainable revenue stream and maintain relevance in a crowded digital landscape.

As the company seeks to stabilize, the question remains whether its appeal to Trump’s supporters can translate into financial success or whether it will remain a volatile stock driven more by ideology than business fundamentals.

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