Word: fiscal
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Although not immediately more profitable. In mid-October Sony revised forecasts for its 2007 fiscal year, which ends in March, predicting a 38% decline in net income, to about $435 million. The losses are partly owing to charges for the battery recall and delays in launching the highly complex PS3. For fiscal 2008, Stringer is still predicting a profit margin of 5%, though he admits he's not sure how he'll achieve it. "But I am not altering the profit target...
Nonetheless, investors won't see a payoff for years. Sony will probably lose $1.7 billion selling PS3s in its 2007 fiscal year. Analysts for the Yankee Group estimate Sony spends $700 to $800 to make each PS3, creating a loss on every sale. The games division won't return to profitability until several million units have been sold, as component prices fall and revenues from higher-margin software kick in. Said Stringer: Sony will "have to generate some excitement and profits from elsewhere in the company...
...says Dr. Georges Benjamin, executive director of the American Public Health Association. But he attributes much of the upheaval to government-wide belt tightening rather than to Gerberding's reorganization, noting that core programs at the CDC have been cut 4.5% in each of the past two fiscal years. He and other experts believe that the agency needs at least $15 billion a year to do all the jobs it has been assigned--nearly twice the current budget of $8.5 billion...
...Moderate Democrats have celebrated the midterms as a victory for their brand of fiscal conservatism, foreign policy "realism" and a version of "traditional values." Certainly, Washington will see an influx of unorthodox Democrats: congressmen-elect Heath Shuler in North Carolina and Brad Ellsworth in Indiana are pro-life and pro-gun. But liberals won in some relatively conservative areas as well, and often after being largely ignored by national Democratic strategists. In the House, they include Kentucky's John Yarmuth (who supports universal health care and affirmative action), New Hampshire's Carol Shea-Porter (she was once escorted...
...that life among the University’s endowment managers has come to resemble a Spanish-language soap opera. Now, the University’s own holdings are moving that way as well. Harvard’s investment in Univision Communications Inc., the Spanish-language broadcaster, swelled during the fiscal quarter that ended Sept. 30 to become its 13th largest stake in a publicly traded company, according to filings with the Securities and Exchange Commission. That investment would be worth $32.4 million at the close of trading yesterday, if the University has maintained its holdings in Univision. Univision...