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December 2, 2008 9:26:59 PM CST

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6 Stories

 $148M Loss Bites Into Crocs 

Demand for colorful clogs tanks

Rocky Mountain News Rocky Mountain News Nov 13, 08 3:02 AM CST
(Newser) - Crocs, the maker of hugely popular colorful plastic clogs, suffered a $148 million third quarter loss on a 32% drop in demand in Europe and the US. The Colorado-based company has shuttered a factory in Canada, will close another in Brazil next month, and has amassed extensive unsold inventory, reports the Rocky Mountain News . More »

Christian Science Monitor Will End Daily Print Edition

Paper moves to web-first edition, will publish weekly magazine

Washington Post Washington Post Oct 28, 08 4:40 PM CDT
(Newser) - The Christian Science Monitor will discontinue its daily print edition in April as it shifts to the Internet. The paper, which turns 100 next month, will print a weekly edition instead. The Monitor has seen its circulation decline to 52,000 from 160,000 20 years ago, and while it is subsidized by the Christian Science church, the financial losses have become too much to bear, notes Howard Kurtz of the Washington Post . More »

More about:  Internet • newspapers • profits • print journalism • losses • Christian Science Monitor

ANALYSIS

Sides Dig In Despite Boeing Strike Costs

Stoppage in week 4; price tag nears $1.3B for aircraft giant

Seattle Times Seattle Times Sep 29, 08 1:35 PM CDT
(Newser) - Machinists employed by Boeing have been on strike for more than 3 weeks, with no end in sight; analysts say if the stoppage reaches a month, it could cost the aircraft maker $1.3 billion, the Seattle Times reports. The union sees its position as good, given Boeing’s huge backlog of orders, but a downturn in the airline industry could put workers on shaky ground. More »

 Goodbye Smell, Hello Misery 

You lose more than the ability to sniff roses without this key sense

Slate Slate Jul 10, 08 9:25 PM CDT
(Newser) - When ranking physical attributes we’d hate to lose, most people put sense of smell at the bottom, on par with losing a big toe. But when Elizabeth Zierah lost hers—and thus her sense of taste—3 years ago after catching a cold, the ensuing string of scentless and flavorless days transformed her into "an observer watching the character of me," she writes in Slate. More »

More about:  health • smell • losses • sense of smell

Mammoth Writedowns Hammer AIG

Insurance giant posts $7.8B 1Q loss as
credit woes continue

Wall Street Journal Wall Street Journal May 9, 08 2:41 AM CDT
(Newser) - American International Group posted a record-breaking $7.8 billion first-quarter loss yesterday, reports the Wall Street Journal . The insurance giant blamed the poor results on the sagging housing market, the credit crunch and the see-sawing stock market. It announced plans to raise $12.5 billion to patch up the damage to its balance sheet from heavy writedowns. More »

Sprint Nextel Takes $29B Loss as Customers Walk

Loss includes huge one-time writedown; company announces cover-everything plan

Wall Street Journal Wall Street Journal Feb 28, 08 10:00 AM CST
(Newser) - Sprint Nextel posted a net fourth-quarter loss of $29.45 billion and doesn’t expect a quick recovery, the Wall Street Journal reports. The No. 3 US wireless company will hold off dividend payments and draw down credit lines for protection as more customers leave the service. It has also announced a beefy $100-a-month unlimited plan including voice, web, email, and more. More »

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