Thursday, July 17, 2008
5715: Flagging Sagging Profits.
A profits roller coaster in a MultiCultClassics Monologue…
• Six Flags shares dropped 44 percent. One analyst wrote, “Park admissions are expected to suffer this summer because of the economic outlook and related deferred investment in new rides and facilities.” Maybe the Six Flags Asian guy will attend the next shareholders meeting and holler, “Profit: No Flags!”
• Delta and American Airlines parent AMR reported 2Q losses at over $1 billion. To turn things around, passengers will now be charged $1 billion for every extra carry-on bag.
• EBay’s 2Q profits rose 22 percent, sparked by strong growth from its e-commerce sites and PayPal service. Expect to start bidding on airline jets and Six Flags roller coasters soon.