Early Briefing: Ready for the Breakup
Nearly a decade ago, the merger between Time Warner and America Online was heralded as a surprising and revolutionary marriage between "old media" and "new media." By comparison, yesterday's revelation by Time Warner that divorce papers may be on the way came as a shock to almost no one, reports Mike Musgrove.
Analysts said the two companies were ill-suited from the beginning. AOL's role had never been clearly defined. And Time Warner's recent move to replace AOL's top two executives had been widely seen as indication that major changes were coming for the struggling Web portal.
A quarterly report filed yesterday contained the first explicit acknowledgment that Time Warner's relationship with AOL, once the powerhouse of the Northern Virginia tech community, is nearing its end.
Long before the economy soured into the worst financial and unemployment crisis in a generation, D.C. officials knew that tens of thousands of residents did not have the training to compete for mid-skill jobs in construction, maintenance and other professions that pay a livable wage, reports Darryl Fears.
The problem has hurt the city for years. The government struggled to find qualified residents to work on multimillion-dollar construction projects it funded, such as Nationals Park and the convention center.
The lack of skilled residents will cost the city in the coming months, when the government and nonprofit groups will compete with hundreds of other municipalities for a share of the $500 million in grants to train workers for the emerging "green" economy. To qualify for the stimulus funds, municipalities must demonstrate that they can train adults fast and put them to work on shovel-ready projects.
Lanham-based Integral Systems revised its financial guidance because of the loss or delay of government contracts and a weak aerospace market, saying it expects $170 million in revenue and 45 cents in per-share profit. Earlier, it predicted revenue of $176 million and profit of $1.01 per share. Integral is scheduled to release second-quarter earnings Monday.
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