Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
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.