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    What in hell is with AOL???????? - 500 Beiträge pro Seite

    eröffnet am 02.08.02 17:30:47 von
    neuester Beitrag 15.08.02 11:45:37 von
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      schrieb am 02.08.02 17:30:47
      Beitrag Nr. 1 ()
      meint ihr da gehts noch weiter runter?
      Avatar
      schrieb am 02.08.02 17:34:13
      Beitrag Nr. 2 ()
      Solange das Damoklesschwert der Bilanzfälschung schwebt, lasse die Finger weg !!
      Es KÖNNTE die nächste Worldcom werden.
      Avatar
      schrieb am 02.08.02 17:36:15
      Beitrag Nr. 3 ()
      könnte auch auch ei guter einstieg sein...
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      schrieb am 02.08.02 17:38:25
      Beitrag Nr. 4 ()
      ja jenny, könnte ;);)

      Die Familien Hätte, Wenn, und Könnte sind ja bekanntlich die Reichsten an der Börse !! ;);)
      Avatar
      schrieb am 02.08.02 17:41:18
      Beitrag Nr. 5 ()
      Lothar Matthäus konnte das aber besser...

      "I`M very lucky to be in New York" :laugh:

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      schrieb am 05.08.02 23:39:01
      Beitrag Nr. 6 ()
      AOL Chief Faces Two Choices; Each Is Worse Than the Other
      By DAVID D. KIRKPATRICK


      n the next few weeks, Richard D. Parsons faces his first pivotal test as chief executive of AOL Time Warner: coming up with as much as $9 billion, beginning with an initial downpayment of at least $1 billion in cash.

      Mr. Parsons needs the money to buy out the 25 percent stake the company does not already own in Time Warner Entertainment — a partnership that includes HBO, Warner Brothers Studios and Time Warner Cable. This fall, Brian Roberts, chief executive of Comcast, will gain control of that stake and, eager for cash himself, wants AOL Time Warner to buy him out.

      But to do so, Mr. Parsons faces a choice of poisons: Borrow money and endanger the company`s credit rating, or issue stock at a time when investors are shunning cable and media companies. As a result, analysts and some within the company have even speculated that AOL Time Warner may seek to sell off noncore businesses — perhaps its 50 percent stakes in cable channels like Comedy Central or Court TV or its book publishing division.

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      Bond market investors are dubious that Mr. Parsons can extricate AOL from its predicament without lowering earnings or increasing debt. In the past, AOL Time Warner`s bonds traded at a higher price than any other cable company, but in the last two months its bonds have fallen below those of its rivals, down to junk-bond levels.

      In the last few weeks, AOL Time Warner`s shares have been battered by plummeting advertising revenue and allegations of improper accounting at its AOL division. On Friday, shares of AOL closed down 71 cents, to $10.30 a share, off more than 85 percent in the last two years.

      In his negotiations with Mr. Parsons of AOL Time Warner, Mr. Roberts of Comcast also holds a crucial bargaining chip — influence on the future of AOL. When Comcast gains control of the 25 percent stake in the partnership, after it completes its acquisition of AT&T`s cable business in the fall, Comcast will become the largest cable operator in the country. And AOL Time Warner needs access to those cable wires for its AOL broadband offering to consumers.

      Thus far, AOL has been unable to sign a high-speed distribution deal with any cable operator outside its parent company — a key to its future. People close to the negotiations for unraveling that partnership say that Mr. Parsons is insisting on signing a distribution deal at the same time.

      Of course, after buying AT&T`s cable business, Comcast will not be exactly flush either. In presentations to investors, Mr. Roberts has often explained that Comcast plans to lower its debt and preserve its credit rating by raising at least $6 billion for its stake in the partnership. He could sell his 25 percent stake in the partnership to the public in an initial offering, but at the moment such an offering would sell poorly, glut the market and hurt all the cable stocks, said Tom Wolzien, an analyst at Sanford C. Bernstein.

      Mr. Roberts is holding out for a pricey alternative: $1 billion in cash; billions of dollars in AOL Time Warner stock; and a stake in a cable company carved out of the partnership that might go public later.

      It is an onerous burden for Mr. Parsons. Neil Begley, an analyst who covers AOL Time Warner`s bonds for Moody`s Investors Service, said that, according to its calculations, AOL Time Warner has already slightly exceeded the 3-to-1 ratio of debt to cash flow it needs to warrant its current investment grade credit rating, pledging to pay down debt. "The company right now has no financial flexibility," Mr. Begley said.

      Next year, AOL Time Warner must also pay $725 million for Vivendi Universal`s stake in AOL France.

      No one is suggesting that AOL Time Warner is in any danger of the kind of cash crunch that has hobbled its rival, Vivendi. But Mr. Parsons has often said that he will not sacrifice the company`s credit rating.

      People involved in the negotiations to unravel the partnership say Mr. Parsons is seeking an agreement that sets an overall price and leaves the mix between stock, cash and other assets to be determined later.

      Those people said that Mr. Roberts hoped to minimize taxes on the deal, perhaps by receiving part of the payment in the form of the businesses currently owned by the partnership. The partnership currently includes a 50 percent stake in the cable television station Comedy Central, a joint venture with Viacom, and Court TV, a joint venture with John C. Malone`s investment company, Liberty Media. Kagan World Media, a media research firm, estimates that each channel is worth more than $1 billion.

      If pressed to raise cash to preserve the credit rating, company executives acknowledged, AOL Time Warner might sell other noncore businesses, or even all or part of another cable channel.

      Another factor is Mr. Malone of Liberty Media, a major shareholder in AT&T, Comcast and AOL Time Warner. Under the terms of a previous agreement with Comcast, for a few weeks each spring Mr. Malone has the right to sell Comcast his stake in their joint venture in the home shopping network QVC. That could be a multibillion-dollar obligation that Mr. Roberts could ill afford, said Jordan Rohan, an analyst at Soundview Technologies.

      Dennis Leibowitz, of the hedge fund ACT II Partners, said he had sold shares of AOL and bought shares of Liberty Media, betting that Mr. Malone will find a way to take advantage of the situation — perhaps in a three-way deal swapping his stake in QVC and Court TV to Comcast and receiving shares in AOL. "That is an archetypical John Malone maneuver," he said.

      In meetings within the company, however, Mr. Parsons has played down the possibility of selling businesses, although he has not ruled it out completely, company executives said. Asked recently by executives of AOL Time Warner`s profitable Turner Broadcasting division whether any of their channels would be sold to raise cash, Mr. Parsons replied that in 1985 a predecessor company sold off investments in MTV and Nickelodeon to pay debts incurred with an investment in Atari. And the company had regretted it ever since, he said.
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      schrieb am 15.08.02 10:52:37
      Beitrag Nr. 7 ()
      Jennylein,die haben zuviel geblasen!!!!!!
      :laugh:
      Avatar
      schrieb am 15.08.02 11:25:17
      Beitrag Nr. 8 ()
      W I R T S C H A F T

      Unregelmäßigkeiten bei AOL Time Warner


      D er riesige Medienkonzern hat pünktlich zum Ablauf der Abgabefrist für eidesstattliche Erklärungen mögliche Fehler in seinen Bilanzen eingeräumt. Es könnte sein, dass die Einkünfte von drei AOL-Transaktionen „unangemessen ausgewiesen“ worden seien, erklärte das Unternehmen am späten Mittwochabend. Dabei gehe es um einen Gesamtbetrag von etwa 49 Millionen Dollar (etwa 52 Mio Euro) über einen Zeitraum von eineinhalb Jahren. Die Angelegenheit werde noch geprüft.

      Es war das erste Mal, dass sich AOL Time Warner zu möglichen Falschangaben in seinen Bilanzen bekannte. Entsprechende Medienberichte hatte das Unternehmen bislang stets zurückgewiesen.

      Um welche Transaktionen es im einzelnen ging, wurde nicht mitgeteilt. Analysten zufolge handelt es sich gemessen am Firmenkapital ohnehin um einen relativ kleinen Betrag. Doch wurde AOL Time Warner angesichts der jüngsten Bilanzskandale in den Vereinigten Staaten genau wie alle anderen Firmen stärker aufs Korn genommen.

      Für alle Großkonzerne in den USA begann unterdessen die Stunde der Wahrheit: Vorstandchefs und Finanzvorstände von rund 700 börsennotierten Unternehmen mit einem Jahresumsatz von mehr als 1,2 Milliarden Dollar waren dazu aufgerufen, eine eidesstattliche Erklärung abgeben, dass die Bilanzen ihrer Gesellschaften richtig seien.

      15.08.02, 10:11 Uhr
      Avatar
      schrieb am 15.08.02 11:45:37
      Beitrag Nr. 9 ()
      iss ja wie bei einem bankraub.

      ist die beute bloß 2000 oiro wars ja nur ein klitzekleiner bankraub, qusi ein heuchlein von raub.

      da fällt mir nichts mehr ein.

      DUF


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