Word: profiteer
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...Disney Teen Machine has become a finely tuned profit pump in an industry rife with unpredictability. The result is that Disney's cable networks represent the one slightly solid piece of earth among the entertainment giant's sinking properties. ABC is struggling, sales are way down at Disney's theme parks and stores, most of its non-Pixar movies have been wan performers, and revenue from DVDs is shriveling. The cable networks, which in addition to the Disney Channel include ESPN, ABC Family, Soapnet and Disney XD, brought in 26% of the company's $26.3 billion in revenue...
...private-equity firm Blackstone was about to buy Hilton Hotels. A senior vice president at IBM handing over details of Sun Microsystems's financials, which he had access to only because IBM was contemplating buying Sun. A managing director of Intel passing along the company's revenue and profit numbers before they were publicly released and later asking his hedge-fund consort for a job with one of his "powerful friends...
...conduct alleged in this complaint is serious and should serve as a warning to anyone who would consider compromising our nation's secrets for profit." - David Kris, assistant attorney general for national security (Statement...
...business headlines, at least, they are seeing it. After the close of trading on Monday Apple reported that quarterly earnings were up a stunning 47% on strong sales of iPhones and Mac computers. Investors were also cheered by the prospects that Caterpillar would deliver a bullish profit report. On Tuesday morning Caterpillar did just that, reporting earnings that were down 53% but were well ahead of analysts' expectations. (See 10 big recession surprises...
...Calculating the financial group's improvement can be a bit tricky since going from a loss to a profit isn't truly a percentage improvement. "When you cross over zero, comparisons get weird," says Van Dijk. Even so, the financial group's turnaround - it should log $15 billion or more in fourth-quarter profit - will give a strong boost to the S&P 500 composite earnings. The S&P will also be boosted by a famous departure: "GM was losing billions last year, but it's no longer in the S&P," observes Van Dijk...