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Of all the creative excuses that companies tend to come up with when earnings disappoint, or when earnings are restated, the one that Scholastic (SCHL) came up with in the 10K it filed yesterday is definitely up there:
The decline in profitability of the DTH business was primarily a result of the federal Do Not Call [...]
While some people continue to debate whether or not we’re actually in a recession, Apple (AAPL) went a step further in the 10Q it filed yesterday, using stark new language to describe the state of the economy in its risk factors section:
The Company’s operations and performance depend significantly on worldwide economic conditions and their impact [...]
A mysterious finance charge popped up on my last credit card statement. Even if I manage to get it waived, there’s little doubt that those evil masterminds at the issuing bank are free to smack me with any absurd charge or penalty they can dream up. In the credit card industry the customer is never right (and even if [...]
As we head into the Fourth of July holiday and what will no doubt be a weekend full of BBQs, I can’t seem to get a number that I saw in the 10K that Smithfield Foods (SFD) filed last week out of my head: their slaughter capacity in the U.S. has now reached 122,000 pigs [...]
Is there anything more quintessentially American than a La-Z-Boy (LZB) recliner? There’s that famous scene in Idiocracy (one of my all-time favorite movies) where Frito is sitting in a La-Z-Boy-like chair that includes a toilet and a refrigerator and thus, never has to get up. Back in 1999, when I wrote about the company for [...]
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