AOL Adds Another $584 Million to Restatements of Ad Sales
Fortunately I don’t own any AOL Time Warner stock, the new AOL is about generating revenue by selling ads, but now it seams AOL is much better at creative accounting.
Time Warner yesterday restated another $584 million related to revenue booked by its AOL division shortly after the two companies’ 2000 merger, bringing to more than $1.26 billion the total sales that AOL booked improperly over several years.
$1.26 Billion evaporates into thin air, at the time of the AOL-Time Warner merger the value was placed $300 billion, today it's said to be $65 billion, next week maybe $1.49.
Everyone recalls those AOL disks we all received in the mail, but did you know it was Time Warner properties that were sending out these disks and that was years before this conspicuous merger that made a few people rich and many more poor.