Knight Ridder has always had a reputation for journalistic excellence as well as for making that value a priority over the bottom line--which is perhaps why Knight Ridder's financial performance has lagged that of its industry peers for years.

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Creating value for shareholders remains a top priority, and in the first half of fiscal 2013, we returned over 95% of operating cash flows through share redemptions and dividends.

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Shareholder value is, at best, not a priority.

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For China to truly transition to a service economy and produce products high up the value chain with real innovation--as the government has made a priority in fields like aircraft, and clean technologies--it must have the business minds that can lead the way there.

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