"Competition for people's time is increasing and the abundance of choice is allowing consumers to be more selective."
-- Walt Disney (DIS) CEO Bob Iger, announcing a 32% quarterly earnings decline that dragged Disney's stock down 7% to $19.15 in after-hours trading.
Iger's point is that Disney's problems extend beyond the recession. "In essence, we don't believe the changes we are seeing in consumer behavior can all be attributed to a weak MOREJessica Shambora, Writer-Reporter - Feb 3, 2009 6:43 PM ET
"Even in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in Apple history."
-- Apple (AAPL) CEO Steve Jobs in a statement Wednesday. Despite a tough environment for tech, Apple reported first-quarter sales of $10.17 billion, up 6% from a year ago. Analysts were expecting sales of $9.74 billion. The stock jumped 6% on the news and surged another 9% in after-hours trading MOREJessica Shambora, Writer-Reporter - Jan 21, 2009 6:31 PM ET
I'm just back from five days in Washington, D.C. (yes, I commuted against the crowds this morning) and I'm feeling "the new era of responsibility" that President Barack Obama spoke about in his inaugural address today. This responsibility is power. It's also quite a burden. Are you feeling it too?
On Friday, I had a keen sense of it when I was meeting with Sheila Bair, the chairman of the FDIC. MOREPatricia Sellers - Jan 20, 2009 3:35 PM ET
"A crisis is a terrible thing to waste." Have you heard that line lately? Rahm Emanuel, President-elect Barack Obama's new chief of staff, recently used it. So did Merck (MRK) CEO Dick Clark, noted management guru Jim Collins, who used the line as the centerpiece of a talk at the Fortune 500 Forum in Washington, D.C. on Monday.
Collins delivered a mega-dose of passion and pragmatic ideas, starting with the message that "good MOREPatricia Sellers - Dec 2, 2008 11:34 AM ET
Since Susan Lyne made a big name for herself at the top of ABC Entertainment and then Martha Stewart Living Omnimedia (MSO), her move to the CEO position at tiny Gilt Groupe seems to be a head scratcher. Have you heard of this year-old startup? I hadn't. My younger, fashionable colleagues say it's a big thing: an online marketplace of excess luxury goods that is already shaking up the fashion MOREPatricia Sellers - Sep 16, 2008 2:43 PM ET
The Jonas Brothers are masters at generating buzz. The Disney (DIS) TV movie "Camp Rock" -- starring teen heartthrobs Kevin, Joe and Nick Jonas -- came out on DVD this week, while the band's new album, "A Little Bit Longer," opened at No. 1 on the Billboard Top 10. The Brothers' last album is No. 10 on the list and the soundtrack to "Camp Rock" is No. 8. Meanwhile, Disney's Miley Cyrus holds MOREJessica Shambora, Writer-Reporter - Aug 22, 2008 3:08 PM ET
"You do want what I'll call some business chauvinism - you want people to believe in their businesses and fight for them. But you want to understand in the end that the whole is much greater than the sum of its parts."
-- Walt Disney (DIS) Chairman and CEO Bob Iger, in a Q&A that appeared in April 11, 2008 issue of Fortune. Disney announced quarterly profits that topped expectations this MOREPatricia Sellers - Jul 30, 2008 4:59 PM ET
High-placed media-industry sources tell me that Susan Lyne has been in touch with Oprah and her folks about running OWN, the Oprah Winfrey Network. Lyne, who quit the CEO post at Martha Stewart Living Omnimedia (MSO) last week, won't comment. Nor will Oprah. But the cable startup—a joint venture of Oprah's Harpo Inc. and Discovery Communications that's due to launch in September 2009— would be a natural fit for Lyne, MOREPatricia Sellers - Jun 18, 2008 2:59 PM ET
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