August 5, 2010 |
Former Internet giant AOL Inc. posted a $1.06-billion loss Wednesday resulting largely from an accounting charge triggered by its recent sale of social networking company Bebo Inc. The company, which was spun off by Time Warner Inc. last year, is struggling to remake itself as an information and media hub as its decade-old dial-up business continues to erode. Its ad revenue was down 27% from the same quarter last year. But the decline might have stemmed from a set of decisions that Wall Street likes, said Clayton F. Moran, an analyst at Benchmark Co. AOL has been selling off weaker advertising units as it steps up its efforts in higher-margin display advertising.
March 14, 2008 |
AOL has a new buddy: Bebo. After several months of negotiation, Time Warner Inc.'s AOL agreed Thursday to buy the social networking site for $850 million, part of its bold strategy to grab a greater share of online advertising. Analysts say it's a potentially powerful pairing if AOL succeeds where others have struggled, in making money from the growing Internet phenomenon of social networking. That could prove daunting if the economic downturn takes a big bite out of online advertising dollars.
April 7, 2010
Suppliers hit by NUMMI shutdown Less than week after the shutdown of NUMMI, the auto factory's former suppliers are expected to lose at least 1,200 East Bay jobs. Just two or three of the 13 suppliers in Alameda County surveyed are likely to survive, according to a study by the Corp. for Manufacturing Excellence. If the rest close their doors, about 917 jobs, $160 million in revenue and $64 million in wages would evaporate. The county is home to 31 suppliers for the closed New United Motor Manufacturing Inc. plant.