Mavs owner Mark Cuban was in NYC yesterday, speaking on a panel titled "The Future of Media" held in conjunction with Advertising Week. Among his fellow panelists were Randy Falco, CEO of AOL; Vanity Fair columnist Michael Wolff; and Ken Auletta, the New Yorker media writer who also served as moderator. At some point, Auletta asked Cuban to offer some advice to owners of newspapers. Turns out, it was pretty simple: "Give up."
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Cuban told those in attendance he keeps his money in one place these days: "In the bank. This is where you save for the rainy day." Then again, this morning he's among those talking to the Canadian media about the American financial crisis -- and he does offer this suggestion, for those looking to move their money out of the vault: "If I had the time, I would be researching every company that needs renewable and expandable debt to survive and would short the shit out of it." --Robert Wilonsky