Google Loses Mad Money on AOL Investment; Maybe it Should Hire Jim Cramer?
I’ll be honest, I’m not much of a stock picker. If I invest in a company, invariably the stock price declines. It seems I share my talent for destruction with Google. AP is reporting that Google has filed notice that it believes its $1 billion (5%) investment in Time Warner’s AOL unit is a dud. [Google told] the Securities and Exchange Commission that the 5 percent AOL stake that it bought in 2005 “may be impaired.” Impairment is an accounting term used to describe an acquisition or investment that has eroded.
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