Friday, November 20, 2009

Time Warner Hypocrisy @ AOL

Time Warner (TWX) decides to sell off AOL. At the same time they announce they will reduce the AOL work force by one third. So basically the board of directors knew they had to cut one third if not more and kept these guys around, destroyed shareholder wealth and are now sufficiently hypocritical by trying to unload AOL with the lead headline that the staffing is bloated.