It's Only Money
By Maxine Shapiro, KERA 90.1 commentator
Dallas, TX – It's Friday so "It's Only Money," a review of the big and not-so-big stories of the week. I'm Maxine Shapiro with KERA Marketplace Middays.
"Exxon Mobil profits fall 58% in first quarter as depressed oil and gas prices pushed the company's refining business to a loss." "Exxon Mobil gives $3.5 million to Texas universities." "TXU earnings are up 28% in first quarter." "TXU seeks to raise electricity prices, citing rising natural gas prices." I would like to thank the Dallas Business Journal Online for those four most revealing news stories for the week.
If you took your family to visit one of the Disney theme parks this quarter, you weren't alone. In fact, thanks to families just like yours, Disney's earnings, though still down from last year, came in higher than expected. Unfortunately, ABC is quickly becoming the Evil Queen, the Captain Hook, the nasty stepsisters of the family. ABC has only one show in the Top 20 and it's Monday Night Football. Can this Beast, ABC, turn into a shining prince for Disney? Stay tuned...
AOL Time Warner who reported "one the biggest losses in corporate history," is now "quietly" considering selling Time Warner Cable through a public offering IPO. That was reported on every news wire today, questioning just how quiet this is. AOL will, of course, keep a majority control. Very interesting.
Viacom, which owns everything else on the planet that Disney and AOL doesn't, also came in with a loss this quarter but was better than expected.
And Dallas' own Belo Corporation, which owns the Dallas Morning News, Channel 8, and Texas Cable News, totaling 18 television stations and 4 newspapers, posted gains this quarter higher than expected.
Speaking of the ex-part owners of the Dallas Mavericks, how 'bout them Mavs? Two to zip! Could be a sweep on Sunday...
For KERA Marketplace Middays, I'm Maxine Shapiro.
Marketplace Midday Reports air on KERA 90.1 Monday - Friday at 1:04 P.M.