The Daily Whim
A Photo Gallery With An Attitude
Wed. Apr 24, 2002
You've Got Losses!
You’ve Got Losses! – AOL Time Warner Inc. Wednesday reported a net loss of $54.2 billion for its first quarter—one of the biggest losses in corporate history—mostly from a one-time charge of $54 billion. The charge reflects a decline in value of AOL’s purchase of Time Warner and was recorded in accordance with a new accounting rule requiring companies to record declines in the value of acquired assets.
I think that’s business speak for, ”since the merging of the two companies, their stock has tanked, losing 75% of its value.” Yep, that’s ”synergy” alright.
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