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(Chicago Sun-Times)   AOL Time Warner pissed away the GDP of Finland   ( divider line
    More: Dumbass  
•       •       •

7373 clicks; posted to Main » on 30 Jan 2003 at 1:11 PM (14 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

85 Comments     (+0 »)

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2003-01-30 09:56:47 AM  
I'd feel bad for them but it's AOL. Cry me a river.
2003-01-30 09:57:03 AM  
I don't care as long as they don't tax my dividends!

What, you mean AOL isn't paying taxes either? Cool!
2003-01-30 10:09:52 AM  
AOL could have gotten more customers is they had only advertised their service. Why didn't they send out free CDROMs with their software on it?
2003-01-30 11:49:16 AM  
I bet Time Warner is like, "No way man. Don't associate me with those losses. It's all AOL dude. I held up my share." Then I bet AOL was like, "Time Warner = teh S0x0rs!!!111"
2003-01-30 11:52:41 AM  
Wile E. Coyote to take over as CEO. Stock in ACME surges on the news.
2003-01-30 12:01:19 PM  
They should've just merged with Finland, while they were at it.

At least they'd break even.
2003-01-30 01:13:43 PM  
how do you lose this much money? anyone, anyone?
2003-01-30 01:15:38 PM  
i wish i could lose that much money, or at least had that much to lose.
2003-01-30 01:16:00 PM  
Man, Finland's gonna be pissed.
2003-01-30 01:16:03 PM  
Finland is cool....... they paid the US its WW2 war debts unlike the rest of the crappy nations involved.
2003-01-30 01:16:08 PM  
see!! everyone was standing up for those little bastage kindergardunswers yesterday.. If they had been paying frickin' royalties on all of those little ditties they were warbling offkey in the alps on their Nokias, none of this shiat would have happened....
2003-01-30 01:16:12 PM  
Apparently they had a lot of "goodwill" at one time, and now they don't. This "goodwill" is worth, like, shiateloads of money and as soon as I figure out exactly what it is - I'm getting me some.
2003-01-30 01:16:16 PM  
[image from too old to be available]

Ha ha!
2003-01-30 01:16:43 PM  

fark AOL/TimeWarner. Sleezy damn company.
2003-01-30 01:16:52 PM  
i'm at, like, the fourth "na" of "na na, na na na na, wey-hey-hey, go fark yourselves."
2003-01-30 01:17:58 PM  
Time Warner is going back to the gold standard.
2003-01-30 01:18:51 PM  
Hey, when you loose that much, you can only go up up up!!! Buy!!! Buy!!! Anyone have a margin account I can borrow.....
2003-01-30 01:19:16 PM  
I remember the good old days without the AOL CDs. Back then guys in black would break into your house and install AOL while you slept.
2003-01-30 01:21:28 PM  
Actually it is the people who owned the stock that pissed the money away.
2003-01-30 01:21:51 PM  
That's what you get when you put a left-wing nutbag in charge...CNN's goin to hell to. Eat a fat dick Ted Turner.
2003-01-30 01:23:13 PM  
If you think about it, how much money could they have saved if they hadn't sent out a CD (or floppy, back in the day) to every address every f'ing day? I know CD's are dirt cheap but if you include the packaging and shipping, we're talking big numbers...yes, BIG numbers....Mmmmmmm.....numbers.........
2003-01-30 01:23:36 PM  
Finland is cool....... they paid the US its WW2 war debts unlike the rest of the crappy nations involved.

You're a history PhD right? idiot.

Finland = cool place. Nice to visit. Do some middle distance running and take a sauna.
2003-01-30 01:23:54 PM  
I don't know anything about accounting or management, but I do know a thing or two about gambling, and I'd bet a nickel the company's just getting raided or something and then will be ditched as bankrupt. What I understood from the article is that their massive losses aren't even tangible, it's depreciation on stuff more or less. Sure, my pickup's worth a third of what it was, but it's still a damn good pickup.
2003-01-30 01:24:45 PM  
I like Finland too, but that makes no sense at all in THIS thread...
2003-01-30 01:25:27 PM  
WW2 I mean...
2003-01-30 01:26:22 PM  
Any posibility the 98.7 billion dollars was wasted on sending AOL cd's to every household in America twice a week?
2003-01-30 01:28:59 PM  

Finland is cool....... they paid the US its WW2 war debts unlike the rest of the crappy nations involved.

really ?! you mean there are other wealthy wesern nations that still owe us gobs of post-WWII money ?

Look at the deficit ! I say we start passing the cap around while casually fiddling with the safety on some ICBMs
2003-01-30 01:29:29 PM  
[image from too old to be available]
2003-01-30 01:29:40 PM  
Let's look at the management team's salaries -- their rewards for this impressive corporate performance. The 1st number is there cash pay, the 2nd is their total comp when the values of their options grants are included also. And 'M' means $1 million.

(source: Yahoo)

Stephen Case, 43
Chairman $1.0M $127M

Richard Parsons, 53
CEO, Director 1.2M 27M

Kenneth Novack, 60
Vice Chairman 1.2M 32M

R. Turner, 63
Vice Chairman and Sr. Advisor 1.3M --
2003-01-30 01:30:50 PM  
"America On Line....So Easy To Use It's No Wonder Why So Many Idiots Use It"
2003-01-30 01:32:22 PM  
I don't think the AOL CD's were a big part of the costs.

CD costs about 10 cents, mailing it in bulk costs another 20 cents.

sent to roughly 30 million homes each time.

cost: a few million

I"m not sure how they end up with a $98 B loss. do they have a weapons program they aren't telling us about ?
2003-01-30 01:33:16 PM  
I'm so old-school, I remeber free AOL floppy disks!
2003-01-30 01:33:25 PM  

2003-01-30 01:35:04 PM  
Nothing like marrying a tall & blond Scandinavian woman.
2003-01-30 01:35:28 PM  
Did I say The 1st number is there cash pay ?

OMG I is dumber than Dubya.
2003-01-30 01:38:55 PM  
Dear AOL Time Warner,

Narrowband modem connectivity is DEAD. The need for your ad-cluttered browser is nonexistant, as there are several other quality browsers to choose from, all free. Your prices suck, your marketing campaigns are wasteful and annoying, and why the hell would I pay for your service if I can get 45 days free right away?!

In short: change or die -- I don't care which. You _could_ be an instrument of change in this country -- quality broadband still isn't so pervasive that you couldn't make money on it, especially given your user base. But the times of bilking people for crappy connections is over.

Yours truly,
2003-01-30 01:40:32 PM  
Aol can't die, there are too many idiots around to keep it going.
2003-01-30 01:41:32 PM  

dumber than Dubya

that's catchy. very evocative.

doesn't have the same double entendre as Slick Willy but it has more opportunity for general global use.

imagine two Masai Bushmen after one of them catches the other in his hunting trap....
2003-01-30 01:41:51 PM  
I agree Ralph,

After you get your finger out of your nose, lets ask England, Germany, Japan, and ESPECIALLY Franch for some money...

That should work..
2003-01-30 01:44:47 PM  
Do you realize how much faster and how much better the Internet would be if AOL just up and pulled the plug on its 25M subscribers?


Dear AOL Subscriber,

The Internet is now over. Please move on.


Steve Case and Ted Turner

2003-01-30 01:45:17 PM  
Vejita1975: Due to an some odd anti trust thing because of AOL being the only provider in certain areas, Aol can't have cable unless there are two other providers before them, or something like that, my grandpa used to work for them so he was complaining about it and his stock.

Basically his complaint came down to microsoft having far better lawyers than AOL.
2003-01-30 01:46:32 PM  
I really don't know about their status with DSL lines though.
2003-01-30 01:49:32 PM  
let's see, 25 Million subscribers.

assume half the 'loss' is because of the AOL part of AOLTimeWarner

$45 Billion loss.

somehow, they managed to LOSE $1,800 per subscriber.

Does this company employ acountants ? what kind of business model could this bunch of monkeys be using ? how could they have possibly justified these kinds of costs ?

completely loco

I think they have B2 bombers in there somewhere. I assumed only the amercian military could waste money like that.
2003-01-30 01:56:37 PM  
there are several other quality browsers to choose from, all free

One of the best is funded by AOL.
2003-01-30 01:57:43 PM  
They just need to change their service from a shiatty net connection to a not-so-shiatty P2P network. RIAA wouldn't stand a chance...
2003-01-30 01:58:08 PM  
Where did all the money go?
1. Executive salaries
2. Executive bonuses
3. Executive embezzlement
4. Executive bribery of congress and government officials

As a result of all this at time warner, and every other big corporation, millions are unemployed, and a second great depression may already be upon us. What should we do with all the executives? Execute them!
2003-01-30 02:01:21 PM  
So, it wasn't actually Finland's GDP, it was an amount equal to Finland's GDP... I was wondering what AOL-TW was doing with all Finland's money...
2003-01-30 02:04:58 PM  
It's not a cash loss, per se. $54 billion was a write-off due to changes in accounting rules, which means they started counting things differently. Probably something along the lines of counting a person using the free cd after they pay the first time, rather than the first time they log on using free minutes. (Say 100 million CDs, 35 million people log on using them, but only 2 million end up staying. instead of recording sales of $768 million, they actually only record $5.9 million) Or, instead of counting the $127 million Case got in options as an expense as soon as they're granted, they only record it when they're excersised (which will probably be pretty soon now that he's jumping ship).
They still made an operating (actual money) profit of $0.28 a share, had a free cash flow of $4.2 billion, and expect to pay down $20 billion in debt over the next two years.
Yeah, they're not going down the tubes any time soon.
2003-01-30 02:05:25 PM  
In other news, Ted Turner still rich.. free to colorize movies and edit cartoons... grrrrrr

2003-01-30 02:07:38 PM  
You guys aren't even thinking of the consequences. When AOL-Time Warner goes down, so do a lot of cool things. Namely:

New Line Cinema (I'm most afraid to lose them)
Time Warner Cable
About Half of everybody on the internet

See, when they go down, the whole internet will be barren for a while. Most people use AOL (most US citizens are also morons, coincidence?) so the internet will be stripped nekkid when aol goes down. There will be less trolling and flaming, but also less of everything. It'll be interesting to watch.
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