FromTexas
This Space for Rent
CBS reports $9.1B loss in fourth quarter
NEW YORK (AP) — CBS said Thursday that it lost $9.1 billion in the fourth quarter of 2005 on hefty charges to write down the value of its radio and television businesses.
Its net loss amounted to $6 per share in its first earnings report since it split with Viacom at the beginning of the year.
That compares with a net loss of $18.4 billion, or $10.99 per share, in the comparable period in 2004, when the company also recorded big charges to write down its radio stations, as well as its outdoor advertising business.
A $9 billion loss? That is huge, isn't it? Since CBS has given us programs many of us have enjoyed for free on their network, shouldn't we all chip in to help correct that loss? We let it go a year ago when they lost $18.4 billion because we were to worried about the oil companies making $9 billion! Maybe we should send all the oil company money to CBS! THAT IS HUGE!!!
Its billions... a nine with nine zeros after it! How can we let billions happen! Nobody should suffer the profit or loss of billions! Not in our socialized America!
So, who is the first in line to pony up some dough for CBS? How can we rip them off so bad by enjoying all those free programs we enjoy?
CSI anyone?