RE: ROBERT DECHERD

The one thing that Robert failed to disclose in his letter to employees is that he and Jim Moroney have hired a criminal attorney. (I am not at liberty to say who.) Neither does the letter address the Grand Jury probe that led to retention of counsel. Of course, it goes without saying that when the D.A. announces he’s taking an interest in you, the first thing any sane person does is pick up the Yellow Pages and look under “A.” (Or, for the more sophisticated among us, D Magazine’s “Best Lawyers.”)

The defense he makes in his letter against the accusations leveled in the amended shareholder suit seems reasonable to me, and you can bet it was vetted by inside and outside attorneys before he published it. I’m glad he addressed again the conspiracy theorists–which now seem to include the editors of the Star-Telegram–that say he dumped stock prior to making the circulation scandal public. Those kind of year-by-year selling programs are common for very large shareholders. Decherd remains Belo’s largest shareholder–and the person with the most to lose.

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