0.24

.41

Ron Burkle's Yucaipa Global Partnership Fund bought 8.57 million shares (6.2%) for $3 a share. Yucaipa partner David Olson was appointed to Xinhua's board as an independent director.

again, advertizing

Scarry!!! just can't see this not working, even with the Shelly incident.

Got in 8.10

ditto

IPO'd @ $13, extremely cheap.

YTD Return: -33%

From Barron's 5-21-07

"In just seven years, Xinhua has become a kind of McGraw-Hill of China -- with financial news services, stock indexes and ratings agencies. Listed in Tokyo, Bush's company's raised $300 million in March in a U.S. offering on behalf of its Xinhua Finance Media unit (ticker: XFML). Xinhua Finance has collected some influential U.S. assets this year, including the hard-hitting proxy advisory firm Glass Lewis that's staffed with veterans of the Securities and Exchange Commission and the Wall Street Journal...or at least it was until last week. That's when two of the most prestigious staffers at Glass Lewis resigned after apparently concluding that their new parent company, Xinhua Finance, would have flunked a Glass Lewis review of its corporate transparency. It turns out that Xinhua Finance Media's IPO prospectus failed to mention some awkward facts about the company's then-chief financial officer, Shelly Singhal."