Sunday, September 30, 2007

Report a Loss (Musical Tribute)

UBS expected to post big fixed-income loss: report
Partly the fixed-income losses stem from continuing costs associated with writing off bad bets by its in-house hedge fund, Dillon Read Capital Management, in the subprime mortgage market, according to the Journal. But other securities held by the fixed-income division contibuted to the loss too, it said.

Tate & Lyle Sugar to Report Loss as Weak Dollar Crimps Earnings
Sept. 28 (Bloomberg) -- Tate & Lyle Plc, the maker of Splenda sweetener, expects its sugar unit to report a ``small'' loss in the first half, while the decline in the dollar is likely to result in a drop in second-half pretax profit.

Japan's Hitachi hard-drive unit to post another FY loss - report
The projected loss will mean that the company has been in the red for the entire five years since Hitachi acquired it from IBM Corp in 2003, the business daily said, without citing sources.

Rite Aid Reports Much Wider 2Q Loss
Despite improved margins on substantially higher revenues, the company said its improved cash flow and tax benefits were eclipsed by higher spending on interest, integration and depreciation and amortization. It also took a one-time financing commitment charge of $12.9 million.

KB Home Reports Loss, Says Housing Market Will Worsen (Update7)
``During the third quarter of 2007, there was a significant deterioration in market conditions,'' Mezger said today in a conference call with analysts and investors. Stricter lending standards and an oversupply of unsold homes have hurt new home sales, and ``at this time we are not seeing any indication'' that the market will improve soon.

Lennar Reports Biggest Loss in Its 53-Year History (Update9)
The third-quarter net loss was $513.9 million, or $3.25 a share, exceeding the most pessimistic estimates from analysts and suggesting the worst housing market in 16 years shows no signs of stabilizing. Revenue at Miami-based Lennar fell 44 percent to $2.34 billion, the lowest in more than three years.

Zimbabwe: Scientists Call for Genetic Diversity
According to a study done by Rege and Gibson (2003) cited in the report, loss of livestock biodiversity in Africa was due to replacement by other breeds, cross-breeding with exotic breeds or with other indigenous breeds, conflict, loss of habitat, disease, neglect and lack of sustained breeding programmes.

Veterinary science experts say some of the major driving forces were economic, social, demographic and political factors.

I must apologize. I didn't expect to see a Zimbabwe story turn up when I was searching for "report loss" in Google. Zimbabwe comparisons are completely absurd. They don't have our stable currency nor do they have our strong healthcare system.

In any event, here's the musical tribute for those reporting losses!

Inspired by Calculated Risk.


Anonymous said...

China on vacation this week.

Stagflationary Mark said...

Maybe China probably doesn't report losses. They merely absorb them perhaps. ;)

Thanks for all your comments!