CBS Corp. posted a massive third-quarter loss on Thursday after taking a $14.12 billion charge to write down the value of media assets on its books.
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The Washington Post Co. today reported an 86 percent decline in third-quarter earnings compared with the same period last year, as a significant loss at the flagship newspaper offset gains at the company's education and cable divisions.
For the quarter, The Post Co. had net income of $10.3 million ($1.08 per share) on $1.1 billion in revenue, compared with net income of $72.5 million ($7.60) on $1 billion in revenue in 2007.
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Friday, October 31
FLUSH! America sends the lying Main Stream Media down the sewer...
by
Riley Jones
on Fri 31 Oct 2008 11:42 AM EDT
Tuesday, October 28
Carter-Era Housing Policies Helped Spark Sub-Prime Crisis, Expert Says
by
Roland, the Gunslinger
on Tue 28 Oct 2008 02:19 AM EDT
The Community Reinvestment Act (CRA) – a Carter-era policy that requires federal financial supervisory agencies to encourage banks to grant loans to people with low income and little credit – played a major role in sparking the sub-prime mortgage crisis the nation now faces, according to economist Russell Roberts, who spoke at a forum on the issue Thursday at the Hudson Institute More>>> Saturday, October 25
Tuesday, October 21
5 million-dollar mistakes by movie stars
by
Riley Jones
on Tue 21 Oct 2008 02:16 PM EDT
Sean Connery wasn't supposed to be James Bond. Keanu Reeves wasn't supposed to be "The One." So, who were the original choices? "I would have absolutely messed up 'The Matrix,'" Will Smith told Wired about turning down the role of Neo. Here are 5 actors and the legendary roles they turned down... More>>> Sunday, October 19
Palin Gives 'SNL' Highest Ratings in 14 Years
by
Riley Jones
on Sun 19 Oct 2008 09:15 PM EDT
The Obama-loving media might hate Republican vice presidential candidate Sarah Palin, but according to preliminary estimates, the Alaska governor's guest appearance on NBC's "Saturday Night Live" gave the program its highest ratings in over fourteen years. More>>> Thursday, October 16
Fuel Cells Powered by Hydrogen from Sewage
by
Riley Jones
on Thu 16 Oct 2008 03:09 PM EDT
Researchers at the Oregon State University College of Engineering have discovered an efficient way to produce hydrogen from different types of biowaste, including municipal sewage. The process uses 75% less energy than the traditional water electrolysis method of producing hydrogen, and can be done at a much lower cost, making it a good candidate for hydrogen fuel production. In the lab, researchers are already close to the Department of Energy’s goal of $2 to $3 per gasoline gallon equivalent for hydrogen fuel. More>>>
Late-Night Comics Skewer Republicans 7-to-1, Study Finds
by
Riley Jones
on Thu 16 Oct 2008 01:41 PM EDT
John McCain is slated to return to "Late Show With David Letterman" Thursday night, but should the onetime media favorite be preparing for an ambush? A study shows the Kings of Late Night are not equal-opportunity destroyers this year when it comes to telling jokes about the candidates for president and vice president -- they're hammering Republicans a stunning seven times more often than they skewer Democrats. More>>> Wednesday, October 15
Question: Does an Obama Surge in the Polls mean the Stock Market is going to Tank even more?
by
Riley Jones
on Wed 15 Oct 2008 02:19 PM EDT
Confirmed: Obama Is Campaigning on Xbox 360!
by
Riley Jones
on Wed 15 Oct 2008 02:03 PM EDT
Last week we noted unconfirmed sightings of an “Obama for President” billboard in the Xbox 360 racing game Burnout Paradise. Today we’re able to report that it is, in fact, an official advertisement placed by the senator’s campaign team. “I can confirm that the Obama campaign has paid for in-game advertising in Burnout,” Holly Rockwood, director of corporate communications at Electronic Arts, the game’s publisher, told me via email, noting that EA regularly allows ad placements in their online games. “Like most television, radio and print outlets, we accept advertising from credible political candidates,” she continued. “Like political spots on the television networks, these ads do not reflect the political policies of EA or the opinions of its development teams.” More>>> Monday, October 13
BREAKING: Dems enter Therapy to help them cope with the housing crisis
by
Riley Jones
on Mon 13 Oct 2008 04:33 PM EDT
Brett Favre Puts Wisconsin Home on the Market (Photos)
by
Riley Jones
on Mon 13 Oct 2008 10:32 AM EDT
Brett Favre, who made his professional move to New York this year, is also preparing to make a permanent move. The former Green Bay quarterback has listed his Ashwaubenon, Wisconsin home for $475,000. More>>> Saturday, October 11
What does he know?
by
Riley Jones
on Sat 11 Oct 2008 07:58 AM EDT
Jailed political fundraiser Antoin "Tony" Rezko, the Chicago real estate developer who helped launch Barack Obama on his political career, is whispering secrets to federal prosecutors about corruption in Illinois and the political fallout could be explosive. Rezko also was friendly with Obama - offering him a job when he finished law school, funding his earliest political campaigns and purchasing a lot next to his house. But based on the known facts, charges so far and testimony at Rezko's trial, there's no indication there'll be an October surprise that could hurt the Democratic presidential nominee - even though Rezko says prosecutors are pressing him for dirt about Obama. More>>> Friday, October 10
Is Obama Depressing the Market?
by
Riley Jones
on Fri 10 Oct 2008 10:07 AM EDT
I think it would be an absolute cheap shot to blame the falling stock market on Wall Street's sudden realization that Barack Obama will very likely be the 44th president of the United States. But is fear of a potential Obama presidency playing any role at all in the weakness? How many investors, I wonder, buy into the theory of economist Peter Morici, hardly a conservative mouthpiece, who says, "Obama's tax and redistribute policies will not resurrect jobs, wages, or the price of stocks in American retirement accounts. Ordinary Americans who have to earn their livings outside the cosseted confines of Wall Street will be not much better off two years from now. In fact, Obama's policies may make economic conditions worse." More>>> Thursday, October 9
McDonalds goes back to burgers, quits pushing special rights for gays
by
Riley Jones
on Thu 09 Oct 2008 04:34 PM EDT
McDonald’s said it won’t renew its membership with the NGLCC when it expires in December -- and that its vice president, Richard Ellis, has resigned from the NGLCC board.
In a press release issued Thursday the NGLCC said "McDonald’s USA has been a good partner with the Chamber. There has been no discussion between the NGLCC and McDonalds regarding continuing membership, nor has the NGLCC been notified of any move not to renew our work together." The group went on to note that its mandate isn't to pursue "political agendas." More>>> Tuesday, October 7
Mystery Of That Missing SNL Bailout Skit Solved: NBC.com Took It Down For Legal Reasons; Has Put Up Edited Version Today
by
Riley Jones
on Tue 07 Oct 2008 11:30 PM EDT
But anyone who actually saw that video could see this might be a lawsuit waiting to happen. Because SNL labeled Herb Sandler and his wife Marion, the real-life former owners of Oakland's Golden West Financial (aka World Savings), as "people who should be shot" and accused them of predatory lending that brought down Wachovia Bank even though no charges have been filed. NBC told me just now they never received any legal threat from the Sandlers. [Though the couple did give an angry interview to The Associated Press about the SNL sketch.] More>>>
Iceland teeters on the brink of bankruptcy
by
Riley Jones
on Tue 07 Oct 2008 11:23 PM EDT
Home to just 320,000 people on a territory the size of Kentucky, Iceland has formidable international reach because of an outsized banking sector that set out with Viking confidence to conquer swaths of the British economy — from fashion retailers to top soccer teams. The strategy gave Icelanders one of the world's highest per capita incomes. But now they are watching helplessly as their economy implodes — their currency losing almost half its value, and their heavily exposed banks collapsing under the weight of debts incurred by lending in the boom times. More>>>
Big Mac Attack: RIPS CONGRESS DEMS OVER SUBPRIME TURMOIL
by
Riley Jones
on Tue 07 Oct 2008 12:13 PM EDT
John McCain went nuclear on Barack Obama yesterday, charging that the Illinois Democrat "abetted" the mortgage meltdown. McCain's harshest attacks on Obama's readiness for the White House came on another disastrous day on Wall Street, with stocks plummeting despite Washington's approval last week of a rescue plan for troubled financial firms. More>>>
Shrimp Farm Turns to Biofuel Producer
by
Riley Jones
on Tue 07 Oct 2008 11:21 AM EDT
Gary Wood’s Phoenix-area shrimp farm was highly profitable in the 90’s, but after an increase of imports from Asia, Wood went looking for something else to fill his ponds. Now that biodiesel is cost-competitive with its petroleum cousin, algae-farms have been popping up around Arizona and other warm areas. But Wood has an advantage: his shrimp already eat algae, so he knows exactly how to grow it. “We will harvest the algae in a very similar way we took the buildup from the shrimp ponds,” Wood said. “It is just amazing we are in this position right now. Up until a couple of years ago, we didn’t realize we’d done so much of this research.” More>>> Monday, October 6
Frank says GOP housing attacks racially motivated
by
Riley Jones
on Mon 06 Oct 2008 09:50 PM EDT
Rep. Barney Frank said Monday that Republican criticism of Democrats over the nation's housing crisis is a veiled attack on the poor that's racially motivated. The Massachusetts Democrat, chairman of the House Financial Services Committee, said the GOP is appealing to its base by blaming the country's mortgage foreclosure problem on efforts to expand affordable housing through the Community Reinvestment Act. He said that blame is misplaced, because those loans are issued by regulated institutions, while far more foreclosures were triggered by high-cost loans made by unregulated entities. "They get to take things out on poor people," Frank said at a mortgage foreclosure symposium in Boston. "Let's be honest: The fact that some of the poor people are black doesn't hurt them either, from their standpoint. This is an effort, I believe, to appeal to a kind of anger in people." More>>>
Oliver Stone: Bashing a sitting American President using Communist Cash
by
Riley Jones
on Mon 06 Oct 2008 03:21 PM EDT
For while Bush exits the White House a pariah, Stone hopes that W. – a $30 million project funded partly with Chinese money because no big Hollywood studio would touch it – will salvage a career that has been taking on water for more than a decade. Indeed, Stone’s previous movie about an American president, Nixon, cost $44 million to make and recouped barely a third of that at the American box office. This time, Stone is betting that the saleability of Bush’s failures will serve to guarantee his own success. More>>> Sunday, October 5
Scandal-plagued Jefferson heads to November runoff
by
Riley Jones
on Sun 05 Oct 2008 09:48 AM EDT
U.S. Rep. William Jefferson overcame the stigma of a federal bribery indictment in Louisiana's Democratic primary on Saturday, garnering enough votes in his New Orleans-based congressional district to secure a spot in a Nov. 4 runoff. Jefferson, seeking his 10th term in Congress, faces a December trial on charges that he took bribes, laundered money and misused his congressional office for business dealings in Africa. More>>> Friday, October 3
Crap Sandwich 2.0
by
Riley Jones
on Fri 03 Oct 2008 10:18 AM EDT
First, wehave a video that I'm not sure what to make of it... Rep. Brad Sherman says Congress has been threatened with Martial Law if the Bailout Bill is not passed. Second, we have Michelle Malkin illuminating this ugly mess for us... gotta love Michelle. What is amazing is that both the Conservatives and Liberals are saying much of the same thing- No Bailout. -Riley "Ok, it’s back to the beastly bailout business at hand and there is no time to waste. Crap Sandwich 2.0 is coming back to the House — and the MSM is heralding flip-floppers who are being bought off with Lord knows what. My syndicated column this week tears into Treasury Secretary Hank Paulson’s Panic Mob and their hostage-taking tactics. You need to light up the switchboards." More>>> |
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