| An SI Board Since March 2001 |
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After reading this today, I believe they are in total denial.
NEW YORK (Reuters) - AOL Time Warner Inc. Co-Chief Operating Officer Bob
Pittman said Thursday the media giant was ''sticking with'' its previous guidance for its
2001 results even as Internet rival Yahoo Inc. (NasdaqNM:YHOO - news) issued an
earnings warning, citing a deteriorating advertising climate.
``I want to tell you -- no matter what others say -- all businesses are not suffering. Let me speak for AOL Time Warner: Our
businesses are doing great, ``Pittman said at a Merrill Lynch Internet conference in New York. ``Nothing's changed, and we're excited about our business. The company is in good position no matter what happens in the business cycle.''
At an investors' day on Jan. 31 after the merger that created AOL Time Warner was completed, the world's largest Internet and media company said it expected to see 12 to 15 percent top-line growth and 30 percent earnings before interest, tax, depreciation and amortization (EBITDA) growth to $11 billion in 2001.
Its subscriptions business, which the media giant has touted as one of its greatest assets, is recession-proof, Pittman said,
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