Posted on 04/17/2010 4:50:37 AM PDT by Zakeet
The tally is in: NBC lost $223 million on the Winter Olympics in the first quarter.
That's slightly better than the most recent estimate of $250 million in losses. Advertising sales have improved a bit since NBC parent General Electric Co. made that projection in late January.
The Olympics did bring about $800 million in extra revenue to GE. But NBC had a lot of production and other expenses, including $820 million just to acquire the rights to carry the Vancouver Games on television and online. That expense was cited as the main culprit for the red ink.
(Excerpt) Read more at cbsnews.com ...
GE should be taxed more, because they help the govt stock the grocery stores.
I think GE is fine with losing money on these two. Just a business expense to further their aims in other fields.
Or, in Congressese, “We Saved 27 Million!”
I expected to watch a lot of events but every time I tuned in the first few days there was so much crap that I changed the channel..... then I hardly watched any of it...... I imagine they lost millions of casual sports fans like me who didn’t study the TV schedules, yet wanted to watch some great sporting events, then got sick of trying to wade through the nonsense and gave up.
oh, and CURLING is not a sport!!! I’d just as soon watch geriatric shuffleboard on a cruise ship.... actually, the latter is more exciting.
NBC: "And, for our next event, we plan to lose only $215 million -- so things are definitely looking up."
I wonder if they hve any problems getting those through airport security.
die media die.
lol
Ya see if they would of only held the Winter Olympics in Chicago like Obama wanted everything would have came out roses.
Okay, let’s look at the numbers this way.
GE had, as of late 2008, $139 Billion dollars of risky bad debt insured by the FDIC as if it was a simple bank savings account (at that time, up to $100,000 was that limit for you and me). Yes, they are paying something, a pittance, for that, just as a normal risk-free bank savings account has to have a fee they pay to insure the savings account. Those guarantees run out in 2012 at this time.
So, what sort of risk do you see in that? Do you not think this influences ongoing government policy, knowing that risky GE debt may all wind up defunct, falling back on the taxpayers like GM and Chrysler?
Do you think GM and Chrysler were good investments, 1rudeboy? I mean, as long as the shareholders were covered, what did the companies do wrong?
In my opinion, these, too, should have gone under, having no help from the government. The government effectively bought them, guaranteeing their debt and allowing them to continue to run, then they defaulted and we are stuck with them. Guess what? This is what we are lined up for when this GE lifeline on UNSECURED bad debt is let go, or, we continue to float it, metering it into the total cost of the whole economic bailout.
From NYT (Nov. 2008:
The F.D.I.C. program covers about $139 billion of G.E.’s debt, or 125 percent of total senior unsecured debt outstanding as of Sept. 30 and maturing by June 30.
http://dealbook.blogs.nytimes.com/2008/11/12/fdic-to-back-139-billion-in-ge-capital-debt/
Also what do you make of this collusion with 0bama:
http://bungalowbillscw.blogspot.com/2009/03/obamas-secret-general-electric-bailout.html
And we don’t know how much in the way of stocks and bonds the government and the FED have bought in GE to artificially prop it up. This is part of the stuff going on behind the scenes we aren’t privy to, but this is out there, just as this week’s allegations of a hidden US Government program to artificially reduce the price of gold, managed by JP Morgan, blew open by a Goldman trader opening his mouth. Of course, Goldman has been doing similar stuff in that and other markets for the government, too, it now appears.
I have no love for opportunists that make money by stealing from others. Perhaps you do.
Try reporting it as a sporting event instead of a series of soap operas.
It would be interesting to see the cost to put on a show like the Ed Schultz show and how much ad revenue is generated by it.
4: This right here: http://www.youtube.com/watch?v=IizWc4cJwbw
"Watch me try to march, watch me try to shoot the handgun, watch me get hollered at by the instructor and try to act like it's funny, watch me be an ugly American in general. Ha ha ha. "
You really believe that, right? Or maybe Bungalow Bill didn't explain it correctly.
(at that time, up to $100,000 was that limit for you and me).
Wrong again...the same program, for which you criticize GE's participation, also guaranteed your bank acount up to $250K.
GE paid over $1 billion to participate in the program. How much did you pay for the extra $150k in insurance?
I asked the same question on a recent thread and didn't get any proof there either.
So the number could be zero?
You know, my bank and credit union pays me a slightly lower interest rate on my deposit while charging those they lend to a bit more.
I really don’t freaking see how paying $1 billion for that, if they did so, appropriately covers $139 billion of bad, unsecured debt, when their secured debt in the form of homes and other assets was so poor. How much worse is the unsecured stuff? We don’t know, but we know that it’s covered by the US government for a fraction of its risk now, thanks to the loophole GE widened to get all their bad stuff covered.
That number could be zero, but the number we are on the hook for is $139 billion for UNSECURED bad debt.
That’s just waiting, adding for the time being to the risk of the US dollar debt.
I'm telling you that I did, and didn't find GE receiving any tax money. The link you provided indicates that GE paid $1 billion to participate in a program to free up commercial credit. Now, we can argue whether that program is worthwhile, but that doesn't have any bearing on the claim that GE received your tax money. Because the research I've done shows that it did not.
In other words, you are wrong (until someone less lazy proves otherwise). So don't tell me to do research when you have done none yourself.
Here's a clue: they never issued anywhere near $139 billion under the TLGP.
How much worse is the unsecured stuff?
You don't know how the program worked. Quit while you're ahead.
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