Microsoft Corp reported its first-ever quarterly loss as a public company on Thursday as it took a previously announced earnings reduction due to the declining value of its ailing online unit, but held up better than expected in the face of stagnant computer sales. The company reported a net loss of $492 million, or 6 cents per share, for its fiscal fourth quarter, compared with a profit of $5.87 billion, or 69 cents per share, in the same year-ago quarter.
COMMENTS:
This $6.2 billion negative turnaround is more significant than it might sound. Microsoft's normal computer-based sales are way down
and their online unit crashed. This is historically
undoubtedly one of the strongest performing corporations in the country. What is being said here is that the economy is so
bad that it is sinking one arm of Microsoft and not allowing its strongest
sector to perform. If it is this bad for
Microsoft, how bad do you suppose it is for America’s small businessman… the
florist, druggist, convenience store operator… who does not need to lose his Bush tax cut?
TODAY’S QUERIES & ANSWERS:
Q. Obama has been promising to raise $1 billion for his
campaign. How close it is to doing
that? (Monte ~ Fallon, NV)
A. Obama, who four years ago broke just about every
fundraising record for a presidential hopeful, has now been forced to look his
supporters in the eye and confess that he might not keep pace with Republican
Mitt Romney. In fact, he’s been asking Russia, China, and Middle Eastern
countries to contribute. Now, if that fact
doesn’t piss you off, nothing will. Such audacity I have never before seen in my entire lifetime.
Q. Chuck Schumer is chastising the Supreme Court and the U.S.
citizens over the First Amendment? (Ogden ~ Redding, CA)
A. Yes. He believes
we need to limit the effect of the First Amendment, that Congress has the right
to limit the Amendment and that Members of the Supreme Court have a duty to
enforce such limitations. "And the
new theorists on the Supreme Court who don’t believe that, I am not sure where
their motivation comes from, but they are just so wrong. They are just so
wrong." Well there, Chuckie, if you
don’t like our Constitution, why are you still living here? Huh?
Q. Another solar firm has gone down? (Minnie ~ Reno, NV)
A. Amonix of North Las Vegas, Nevada has closed its doors
after 14 months of operation. It was heavily financed under an Obama administration
energy initiative. I’m not positive
about the timing, but I think they probably got their loan guarantee after the Solyndra situation hit the
well-known fan. I wonder if they also contributed to Obama’s campaign; this
solar energy stuff is starting to smell worse every day.
TODAY’S QUOTE:
“It just
seems to be a human trait to want to protect the speech of people with whom we
agree. For the First Amendment, that is not good enough. So it is really
important that we protect First Amendment rights of people no matter what side
of the line they are on.” ~ Floyd Abrams
TODAY’S VIDEO:
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