Remember the scene from “Citizen Kane” when a worried accountant tells Kane that his newspaper is losing a million dollars a year. And Kane responds, “You know, Mr. Thatcher, at the rate of a million dollars a year, I’ll have to close this place in 60 years.”
So how long will billionaire oilman Phil Anschutz keep subsidizing the San Francisco Examiner? Forbes Magazine says Anschutz just sold some oil fields in Pennsylvania and North Dakota for $3 billion — the biggest payday in his life.