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04/25/2002 11:02 PM ID: 20738 Permalink   

US Biggest Loss Ever: AOL Loses $ 54 Billion

 

AOL Time Warner revealed they have lost exactly $54.2 billion in the first quarter of 2002. The biggest media company in the world had the biggest loss ever in the American history. Its stock lost 74% of its value.

"The loss is a recognition that AOL paid too much for Time Warner", says George Gilbert, from Northern Technology Fund, which has AOL stock. "If they paid for it in cash, it would be a real disaster, but they paid for it in AOL funny money."

According to AOL, one of the problems is the poor advertising sales, which fell 10%. "Online advertising is a disappointment", said Richard Parsons, AOL's chief executive officer.

 
  Source: quote.bloomberg.com  
    WebReporter: Ororo Show Calling Card      
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  7 Comments
  
  well their main problem is  
 
AOL SUCKS!
 
  by: juanito   04/26/2002 01:21 AM     
  haha  
 
yeah, I have to laugh at these big, evil, merged, messed up conglomorate corporations with goofy names made up of smaller, more name-like names all stuck together in a stupid sort of way. Serves them right for trying to own, homogenize, and monopolize all media and generally take over the world.
 
  by: Odoylerules   04/26/2002 02:15 AM     
  just like...  
 
pinky and the brain. ted turner: come bill, we must prepare for tomorow nigh bill gates: why ted, what are we gonna do tomorow night? ted turner: why the same thing we do every night pin...i mean bill, TRY TO TAKE OVER THE WORLD!!

they're bill, bill and ted ted ted ted ted ted ted ted teeed
 
  by: juanito   04/26/2002 02:40 AM     
  ..  
 
That's really too bad...NOT.
 
  by: wb22gprix   04/26/2002 05:20 AM     
  Theres more to the story  
 
If you actually read deeper into this story, yes AOL has basically lost a shit load, a big reason is the new accounting standards. I guess companies are not allowed to claim there "goodwill" as an asset quarterly, which makes them look worse. Alot of companies are showing billion dollar losses because of this new standard. Now a combination of what I just said, and that AOL just plain out SUCKS,is why they look so bad.
 
  by: jono15   04/26/2002 05:35 AM     
  aol is ok  
 
The AOL software sucks major ass. I would leave my account in the blink of an eye, however, it's great for warez. = )

So easy to go in a chat and have a file sent to you...
 
  by: raph   04/27/2002 05:18 AM     
  mwuahahaha  
 
die evil aol! die, die, die!
 
  by: thelebaron   06/13/2002 01:54 AM     
 
 
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