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Parsons Game Plan: Lower Expectations, Improve Gradually.(A)
Byline: THE ASSOCIATED PRESS
In a conglomerate assembled by a cast of outsized personalities, AOL Time Warner Inc. chief Richard Parsons is showing shareholders how he'll play the lead: with cautious realism and a deliberate absence of bold promises.
AOL Time Warner executives conceded what many investors have long felt on an individual level when the company late Wednesday announced a staggering $45.5 billion charge against earnings to account for its plunging value.
But in taking the enormous writedown -- one that was more than double what some observers expected, despite the fact that such a calculation is required under accounting rules -- the company and Parsons moved to clear AOL's financial decks, analysts say.
The whopping loss that resulted largely obscured ...
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