Watching Richard Parsons and David Faber of CNBC fame in an interview yesterday almost brought tears to my eyes i laughed so hard. It is absolutely comical how this merger failed in such a big way. It was hype to begin with. Steve Case and Gerald Levin probably should be in jail for such a massive eradication of shareholder equity, ie; the respective owners of each stock. Steve Case I hear did nothing but fly around on the corporate jet after his massive accumulation of wealth and Levin faded off to a golf course somewhere, no doubt, much to the chagrin of Jane Fonda's last ex-husband.
And to think Ted Turner didn't protect his massive shareholdings thru his broker at Merrill Lynch. It is one thing to lose a billion or two, a whole other deal to lose 5 or 6 billion of your own money in one stock. Wow, the Ladder Ranch may have been impossible for him to buy these days at 550 square miles!!
AOL is now giving away, for FREE, what i basically pay $240 a year for. Sounds like a great case for Harvard Business School to dissect down the road. Parsons doesn't have a clue how to turn the ship. The stock goes lower from here. Trust me.
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