Word: analysts
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...York City's J.F.K. airport. The airline is already considering as many as nine U.S. destinations. "The U.S. is the final important piece," says Flanagan, whose airline also initiated flights to Lagos, Shanghai and Vienna last year. "Airlines are generally bad businesses. Emirates is different," says Damien Horth, an analyst at UBS in London. "It has been consistently profitable." Still dramatically expanding, it has more than $26 billion worth of new airplanes on order, including 45 of the massive, double-decker Airbus A380s...
...successful. Over 17 years, Greenberg inched American International Group (AIG) into China, even as critics said he would never open that market. Today China is one of AIG's most promising regions. Yet Greenberg's success was accompanied by arrogance. He thought nothing of dressing down an analyst who asked tough questions, and when AIG came under siege early this year--accused of questionable bookkeeping--he responded with disdain and publicly chided regulators for investigating "foot faults...
...pressure increased for more disclosure in financial dealings and for greater accountability at the management level. For decades the insurance industry had done similar deals; indeed, the product that took down Greenberg is legal and still used by others. "Accounting rules have an enormous amount of subjectivity," says analyst J. Paul Newsome at brokerage firm A.G. Edwards. "What nobody had an issue with 15 years ago is very much not O.K. post-Enron, post-WorldCom...
...things get so bad so fast? "The problem with a stock like this is that it attracts fanatics," says Brian Ruttenbur, an analyst at Morgan Keegan. Enthusiasts, says Ruttenbur, treated Taser like a dotcom, sending its price soaring, even though the company posted just $4.4 million in earnings in 2003. The company's rapid growth--some 10% of the nation's 1.1 million officers now have a stun gun--led investors to hope that soon every police officer would get a Taser, just as most carry batons and pepper spray...
...spray was not to blame. With more studies, Tasers could be similarly exonerated. And even though Taser's stock has plummeted, it is still above where it was in early 2004. "The company has performed extremely well, but its rate of growth has slowed," says Joe Blankenship, an analyst at Source Capital Group, who notes that Taser is flush with cash. As it fights its many battles, Taser may need that war chest. --With reporting by Kristin Kloberdanz/Chicago and Jeffrey Ressner/ Los Angeles