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How do you LOSE $54.2 billion ????????

Discussion in 'The Powder Keg' started by Doglips, Apr 24, 2002.

  1. Doglips

    Doglips G&G Newbie

    NEW YORK (CNN/Money) - AOL Time Warner Inc. Wednesday reported a net loss of $54.2 billion for its first quarter -- one of the biggest losses in corporate history -- mostly from a one-time charge of $54 billion.

    How doe you "lose" that kinda of $$...what left the check book in your car...I hope someone can explain this too me.... I re read it several times it is BILLION ... and its not that big of a deal...I sure wish they would lose it into my bank account....
    :confused: :confused: :confused: :confused:

    SPOCAHP ANAR G&G Enthusiast


    I heard it too. They said it had something to do with a new accounting practice?

    Sounds like government economics.


  3. Chris

    Chris Administrator Staff Member

    Phascopsrana, I love you avatar and sig :)

    Well its a simple way of saying someone got money and someone got screwed, and the people that got screwed aren't the CEO's eating the steak, you guess on who got screwed......

    I must say the only thinkg I like about Time Warner is Road Runner, but I will be getting my cable modem through MindSpring.
  4. Rooster

    Rooster G&G Newbie

    This loss is a lot of paper accounting. T/W stock was at all time highs when the economy took a turn south and now its worth a lot less. You know bill gates is the richest man on earth - on paper. If all these people had to turn that stock into greenbacks they wouldn't be nearly as rich. Bill gates would still be the richest although because we're all using computers.:confused:

    The following is from MSNBC 4/24/02:

    AOL Time Warner’s loss was almost entirely due to a writedown because of a sharp decline in the company’s stock, which has fallen by more than half since the merger of America Online and Time Warner announced in January of 2000. In the same period a year ago, AOL Time Warner had a net loss of $1.4 billion.
    Last edited: Apr 24, 2002

    SPOCAHP ANAR G&G Enthusiast

    Bill Gates

    God bless that man. If it weren't for him I'd still be trying to operate my vcr. Now I'm trying to figure this thing out!
  6. Rooster

    Rooster G&G Newbie

    One conquest at a time now. Next yule be wanting us to help you set the clock on you new DVD player!!! LOL
  7. Chris

    Chris Administrator Staff Member

    Well, with the launch of an new AOL coming out, Bill Gates I am afraid will be coming a little poorer, so AOL stock/TW will be big again and MS will go down....
  8. jerry

    jerry Since 2002 Forum Contributor

    poor AOL

    couldn't have happened to a nicer company. mabe their bunny hugger gun hating friends will bail them out?:hmmm: