It just goes to show: Time Warner is such a huge conglomerate and its stock is so immovable that the news and its price have no relation. Take today, for instance.
On a day when the big news included the company's beloved baseball team, the Atlanta Braves, in dead last in the team's division ("I'm just looking for a score that has a 'W' in front of it," said GM John Schuerholz "calmly") and the salacious rumors of CFO Wayne Pace's role as "sugar daddy" to a high-class prostitute, the stock was up 15 cents, nearly 1%, to $17.11.
Perhaps it's true, as one commenter noted, that it's a good thing Pace is [alleged to be] getting more love -- "If he's happy in the bedroom he'll perform better in the boardroom. As a stock holder, I think maybe she should bring over her friends and make sure he's extra happy."
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Reader Comments (Page 1 of 1)
6-19-2006 @ 9:16PM
Frodo Baggins said...
let's get serious there is one an only one issue that will ever move this stock and it isn't the braves win-loss record, it isn't how much the cfo pays to get his jollies, it isn't stock buybacks or harry potter, it isn't even 59 percent year over year growth on an earnings base of $40 billion
the one and only issue the street cares about is what's going to happen with aol if you don't recognize that, you've got no business blogging about this stock for six years the street has steadfastly rejected the failed merger the current strategy of harvesting the remains of aol's dwindling subscriber base won't get this stock out of the teens, ever nobody's buying parsons lies that aol is the growth engine of time warner
and don't expect voluntary change from time warner's executive management despite a flatline stock price, parsons made $13 million last year, he's quite comfortable with the status quo
we need a shareholder revolt or somebody like icahn to clean house hell, even time warner president bewkes calls the idea of synergies within the conglomerate "bullshit" (http://www.bloggingstocks.com/2006/06/03/synergy-at-time-warner-forget-it-says-bewkes/) who else needs to say it before the world believes it?
so join me in calling on the big dick at time warner to spin off aol already google seems to think the company is still worth about $20 billion -- that would make a nice dent in time warner's soaring debt and give shareholders something more to care about than the braves pitching staff