December 6, 2012 |
NEW YORK - Citigroup's move to sack more than 11,000 workers may foreshadow bigger cuts as its newly installed chief executive shakes up the lumbering Wall Street behemoth. The New York bank's restructuring - coupled with a $1-billion write-down in the fourth quarter - came as Citi, like other financial giants, suffers through a hangover from the housing meltdown and struggles to adjust to the resulting regulations. "This is simply just the beginning," said Todd Hagerman, an analyst at Sterne Agee.
November 21, 2012 |
Could it get any worse for hobbling Hewlett-Packard Co.? HP's stock plummeted 12% on Tuesday to its lowest price in a decade after the company said it was writing off $8.8 billion because it was duped into overpaying for a British software maker. The surprise revelation came as HP reported another quarterly loss and gave a weak first-quarter outlook. "The magnitude of the charge is pretty enormous," said Jayson Noland, senior analyst at Robert W. Baird & Co. "It's really bad and it's really expensive and it's really distracting.
November 17, 2012
The Greater Good Science Center at UC Berkeley is making it easy to try out a gratitude journal, with an interactive online project launched this month that's shareable on social media. At http://www.Thnx4.org , anyone can sign up for a two-week journal plan that includes prompts to get your grateful thoughts flowing. It also includes a survey so researchers can mine the data to look at the effects of gratitude in many specific ways, Emiliana Simon-Thomas, who, with Robert Emmons of UC Davis and others, developed the $5.6-million project, said Thursday.
September 13, 2012 |
Walt Disney Co. will take a $50 million write-down in the current fiscal quarter for a stop-motion animation project it canceled in August. The untitled movie was to be directed by Henry Selick, the well respected filmmaker behind "Coraline" and "The Nightmare Before Christmas. " Previously set to be released in October 2013, the picture had been in production for about a year when new Walt Disney Studios Chairman Alan Horn halted work. News of the write-down came in a presentation that Disney chief financial officer Jay Rasulo made to investors at the Bank of America/Merrill Lynch Media, Communications and Entertainment Conference in Beverly Hills on Thursday.
August 9, 2012 |
Meg Whitman, looking to get struggling Hewlett-Packard Co. back on track, continued to chip away at the technology giant's problems with a new round of financial moves designed to clean up its balance sheet. In a company update Wednesday, HP said it would take an $8-billion accounting charge in its fiscal third quarter related to its 2008 purchase of Electronic Data Systems. HP bought the technology outsourcing firm for $13.2 billion, a price that analysts and investors said at the time was too high.
July 3, 2012 |
Microsoft Corp. will record a hefty $6.2-billion write-down in its fourth quarter, mostly related to the disappointing performance of an online advertising business it acquired five years ago. The charge will probably mean a loss for Microsoft in the quarter, which ended in June. The company plans to report its fourth-quarter and fiscal-year earnings July 19. Analysts polled by Bloomberg had estimated that Microsoft would earn about $5.3 billion for the quarter. The Redmond, Wash., software behemoth said the accounting adjustment, known as a goodwill impairment, was "substantially the result" of buying Internet advertising firm aQuantive for $6.3 billion in August 2007.