Word: quartered
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...Merrill, having arrived 14 months ago from the New York Stock Exchange. But he infuriated Lewis by paying out a couple of billion bucks in bonuses before the deal had closed and before disclosing to Lewis that Merrill was going to produce $15 billion in losses for the quarter. Hey, he was just taking care of his people. What's the problem...
...problem was that in doing so, Thain broke another cardinal rule: Don't surprise the boss - especially on the negative side. Lewis was reportedly apoplectic about the size of Merrill's losses in the fourth quarter. But here's a question: What were BofA's risk managers doing? When BofA did its due diligence, it certainly went over Merrill's trading book. If the losses were tied to positions that had already been taken, then shame on BofA. If Merrill's traders made bad bets in the fourth quarter, it's worth asking again, Where were BofA's risk...
...This duality is the strength and weakness of the magazine, which back in the '70s sold up to 7 million copies a month but has been losing money for years. In the third quarter of 2008 alone, the publishing sector of Playboy Enterprises Inc. lost $1.3 million. While Playboy is still the best-selling men's magazine (circ. 2.6 million), its market share has been eaten away by lad mags like FHM and Maxim. The publication is kept alive because apart from its historical importance to the Playboy brand, it is said to be much beloved by Hefner...
...failing and turbulent economy, looking at how a company may do over the course of this year requires more imagination than it does math skills. Earnings actually tell very little. They are a picture of the past. Most come out several weeks after a quarter ends. In a recession, that gap in time may make looking backwards a process which is nearly useless. Looking forward. nearly every public company in America is basing its guidance on conjecture more than predictable sales. That is why a growing number of companies are withdrawing forecasts all together...
Planned Parenthood of Zambia, for example, has lost nearly a quarter of its funding and almost 40% of its staff because of the policy. The group still provides abortions, but the activities that have been affected by the loss of that aid are more diverse: pre- and postnatal care, early child immunizations, malaria screenings and tests for cervical cancer. The lack of funding for contraception in some African countries actually became such an obstacle to preventing the transmission of HIV/AIDS that Bush exempted PEPFAR, his global AIDS initiative, from the Mexico City restrictions. Opponents of the policy also argue that...