A Little of the Old In and Out
(image via kleincreative)
In: Dick Parsons. What a difference a day makes in this dynamic new media cosmos. (The Corsair calmly pours himself a glass of Chateau D'Yquem) Yesterday, before Time Warner's 4th quarter earnings were in, we pegged The Pars for "road beef." (Exaggerated cough suggesting feigned detachment) Now, 24 hourse later, the forecast is sunny. According to PaidContent:
"Profits for 4Q05 were up 21 percent over the previous year with adjusted earnings of 24 cents per share compared to analyst estimates of 22 cents. An oblique reference to those who want to disaggregate TW, led by dissident financier Carl Icahn, from Chairman and CEO Dick Parson in the press release: 'Our scale and closely related, industry-leading businesses give Time Warner significant competitive advantages and strategic flexibility in today�s rapidly changing environment.'"
And, according to CNNMoney (owned by TW):
"The company said that all of its businesses did well in the quarter but that the cable and network divisions performed the best, generating double-digit percentage gains in operating income from a year ago.
"The company's film studio division also reported solid gains in sales and profits. The AOL division, which many on Wall Street have viewed as a drag on Time Warner's results, posted a solid gain in profits thanks to higher online advertising revenues."
Keep in mind that Wall Street rumors are saying that "a scathing look at Time Warner's cost structure is coming next week." Still: Carl Icahn, Shrugged.
(image via elliotback)
Out: Google. The pendulum swings. (Exaggerated cough suggesting feigned detachment) As Old Media titan Time Warner gets a bump of "special ketamine-ish" investor confidence, New Media powerhouse Google falls. This was predicted, incidentally, by Jason Calacanis. Says Michael Liedke (linka via breitbart via drudgiepoo via ap):
"Google Inc. shares sank Wednesday after its earnings report disappointed Wall Street and stunned almost everyone who follows its stock, except the company's founders.
"Co-founders Larry Page and Sergey Brin have always insisted they will run their 7-year-old company the way they want, even if it means ignoring stock market pressures to hit a widely watched earnings target.
"Now Tuesday's release of a fourth-quarter earnings report that badly missed analyst estimates will test their defiant attitude, along with investors' affection for the online search engine leader.
"'This shows that Google is not impervious,' Standard & Poor's analyst Scott Kessler said Tuesday.
"That realization rattled previously bullish investors as Google's stock price plunged by 9.7 percent in early trading Wednesday, wiping out nearly $12.5 billion in shareholder wealth. That backlash trimmed nearly $3 billion combined from the net worth of Page and Brin, who are both 32."
(images via images.hollywood)
In: Tara Subkoff. We have been rather withholding of praise of Tara Subkoff in the past. Especially in the onset of FashionWeek. (For further reference, see "Tara Subkoff Watches Channel Zero") Here's where we make up for the snarkiness. According to the brilliant Kim Hastreiter of PaperBlog:
"I just heard that Tara Subkoff ... is doing a little 'show' of her new IOC (Imitation of Christ) denim line in the windows of Barneys on Madison Ave. on Monday at 11:30 a.m. It's sure to be 'conceptual'... but worth checking out."
(link via thisislondon)
Out: Lake Como Wedding. Brad Pitt -- who is fiending for a well-written gay part to sink his teeth into -- is reportedly looking to a Valentine's Day wedding ("He�s seen the critical acclaim that Brokeback Mountain has won and he wants a piece of it"). According to the 3AMGirls:
"We hear the star secretly called the luxurious Villa d'Este hotel on the shores of Lake Como, Italy, because he wanted to tie the knot there with Angelina Jolie around Valentine's Day.
"The Troy hunk heard about the hotel from close pal George Clooney, who has a villa at nearby Laglio.
"It emerged that Brad and pregnant fiancee Angelina flew to Italy after attending the World Economic Forum in Davos, Switzerland, amid speculation of a Valentine's Day wedding ceremony.
"Now the hotel has confirmed that Brad called to check availability. 'A few months ago we did have contact with Brad Pitt,' admitted hotel director Jean-Marc Droulers yesterday. 'He asked whether we were available for the first two weeks of February. I told him we were closed then. After that, we never heard from him again.'"
Brangelina's going legit, it would appear.
(image via timeinc)
In: The Paleoconservatives (And Realists) Awaken. The startling use of the accusatory "protectionists," and, "isolationists," in last night's state of the Union shows that the gulf between the neocons and paleocons is no longer Karl Rove's best-kept secret. One wonders, considering the largeness of the venue chosen to adress this contretemps, just what Karl Rove's polling indicates. Does it mean that the Taki-Pat Buchanan antiwar, pro-immigration, tribalist faction of the Republican Party is on the rise? And, if so, does Tom Tancerdo become the de facto standardbearer in 2008 (as, we cannot fail to note, this blog predicted)
Since January 1, 2006 The President has moved perceptually closer to the Center, perhaps reflecting thepolitical reality that he is something of a lame duck (Congresspersons need to watch their own backs from here on out). The President hasn't in actuality moved to the Center so much policywise -- Alito, for example -- as he is reaching out an olive branch (inviting former Secretaries of State and NSA advisors to the White House; McCain torture compromise) across the poltical divide in order to be perceived as more moderate. You heard some of that in the speech when he hoped that disagreement would not turn into anger.
The result is that the far-right -- tribal, unified by anti-immigration sentiment-- has crystalized during their sojourn in the political wilderness under the Netanyahuesque leadership of Tom Tancredo, Congressman of Colorado. Also: the Realists -- George Will, foremost -- have been "getting saucy" at the neocons of late. It's now Bush versus the Conservatives; and it's on like Gray Poupon. Of course, Tancredo took the opportunity to oppose the President's State of the Union on the grounds that it was too liberal. Because, of course, Al-Aqueda operatives are day laborers, uninsured contractors and busboys from Mexico. (Exaggerated cough suggesting feigned detachment)
This will sound surprising, but George W Bush is not a conservative, proper. After September 11th, he ceased to be one. He is, in essence, a radical neocon.