Word: warners
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...WARNER BROS...
...market totaling a few million dollars in sales per year. Retrospectively, it’s unclear what benefit, if any, the public received from these blocked mergers since most mergers of large, competing companies fail. For proof, look at the fates of MCI Worldcom and AOL Time Warner, two companies whose plans for world domination through merger have failed of late. AOL just recorded the largest quarterly loss—$54 billion—in corporate history, and Worldcom’s CEO Bernie Ebbers has just resigned under pressure from his board for his poor management...
...Prime Number $54.2 billion is the record first-quarter loss reported by AOL Time Warner, due to a balance sheet write-down following the plunge in the company's stock price...
...intrigued by "Yet a Stranger: Why Black Americans Sill Don't Feel at Home" (Warner; May) by syndicated columnist Deborah Mathis, whose work appears in USA Today. "Forty years after the civil rights movement, not only does racism still exist but it's become even more insidious for having gone underground, argues Mathis. This more virulent strain of discrimination, less blatant, and therefore harder to confront, pervades American society to the extent that black Americans feel defensive and uncomfortable in their own country...
...Investors generally ignore the bad news, either because they'd seen it coming - AOL Time Warner telegraphed its loss weeks ago - and because nearly every survivor of the tech bust has a few embarrassing purchases to own up to. Besides, AOL Time Warner's shares are down 41 percent this year alone, thanks to investors doing their own writing-down of AOL's value (with most analysts pegging it at about $1 a share on top of Time Warner's assets). So the $54 billion loss - and the total $1 trillion in goodwill-impairment writedowns that some analysts expect...