There’s more to Sony’s problems than acts of God and currency traders. The maker of the Walkman and the Trinitron hasn’t driven pop culture for years. Sony thrived in an era of stand-alone electronics. When the Internet arose and digital began to mean connected, iPods became the center of people’s entertainment lives, then smartphones and tablets—which Sony was late to produce. Even the quintessential Sony product—the TV set—has become a millstone. Sony has lost nearly $8.5 billion on TVs over eight years and expects to keep losing at least into 2013. Samsung, Vizio, and other upstarts have driven prices so low that one Sony executive says the company charges less for some TVs than it cost to ship them a few years ago.
There’s more to Sony’s problems than acts of God and currency traders. The maker of the Walkman and the Trinitron hasn’t driven pop culture for years. Sony thrived in an era of stand-alone electronics. When the Internet arose and digital began to mean connected, iPods became the center of people’s entertainment lives, then smartphones and tablets—which Sony was late to produce. Even the quintessential Sony product—the TV set—has become a millstone. Sony has lost nearly $8.5 billion on TVs over eight years and expects to keep losing at least into 2013. Samsung, Vizio, and other upstarts have driven prices so low that one Sony executive says the company charges less for some TVs than it cost to ship them a few years ago.
Diving into the S-1, it turned out that Groupon only considered itself profitable because it used a peculiar accounting metric of its own creation — adjusted consolidated segment operating income, or ACSOI.
Basically, Groupon was taking the money it was spending on advertising to acquire new subscribers to its email and not counting that money as a quarterly, recurring expense — but as a one-time, capital expense, the way Google might account for the cost of building a new server farm.
Groupon was saying that ACSOI helped it figure out the ratio between the amount of money it needed to spend on marketing to acquire a subscriber and how much that subscriber would be worth to the company over the long haul.
But marketing expenses are not typically accounted for this way, and people looked at Groupon as though it were trying to pull a fast one.
Diving into the S-1, it turned out that Groupon only considered itself profitable because it used a peculiar accounting metric of its own creation — adjusted consolidated segment operating income, or ACSOI.
Basically, Groupon was taking the money it was spending on advertising to acquire new subscribers to its email and not counting that money as a quarterly, recurring expense — but as a one-time, capital expense, the way Google might account for the cost of building a new server farm.
Groupon was saying that ACSOI helped it figure out the ratio between the amount of money it needed to spend on marketing to acquire a subscriber and how much that subscriber would be worth to the company over the long haul.
But marketing expenses are not typically accounted for this way, and people looked at Groupon as though it were trying to pull a fast one.
Howie hemorrhaged information about Winfield and Steinbrenner, the mafia, prison, baseball, women, clothes, the weather, his parents, his health. He jumped from one tangent to another, many of them fascinating and relevant, some bizarre, others difficult to fathom. Like the time he told me Winfield held a gun to him. Or the time he said Steinbrenner had sent him a prostitute. Even a hint of incredulity nettled him: “I know what’s been told to me in the past 22 years. That I’m the biggest scumbag in the world, that I’m worse than a pedophile, than a terrorist. I’ve made innumerable mistakes, but the only thing I don’t do is lie.”
So the way my father used to tell it, my parents’ second date went something like this:
My father was positively smitten after his blind date with my mother, and wanting to spend as much time with her as possible made sure that the activity for date number two was an all-day event. This being Salt Lake City in the 1950s, a day of skiing was just the trick. He picked her up, and together they made their way up the winding Wasatch switchbacks in his new Ford Crestliner. At some little town along the way, probably Solitude or Brighton, my father pulled off the highway for gas and got… well, let’s just say he got turned around.
For the last several years, the big ticket in town has been the teen melodrama One Tree Hill, which was on the WB and is now on the CW Network. Don’t let the off brands fool you, though; a surprising number of people watch it, maybe even you, for all I know. It’s one of the worst TV shows ever made, and I seriously do not mean that as an insult. It’s bad in the way that Mexican TV is bad, superstylized bad. Good bad. Indeed, there are times when the particular campiness of its badness, although I can sense its presence, is in fact beyond me, beyond my frequency, like that beep you play on the Internet that only kids can hear. Too many of my camp-receptor cells have died. Possibly One Tree Hill is a work of genius. Certainly it is about to go nine seasons, strongly suggesting that the mother of its creator, Mark Schwahn, did not give birth to any idiots, or if she did those people are Schwahn’s siblings. The One Tree character who supposedly lived in our house was Peyton, played by one of the stars, Hilarie Burton, a striking bone-thin blonde. Think coppery curls. I’d seen her on MTV right at the moment when I was first feeling too old to watch MTV. Superfriendly when we met her, superfriendly always.
For the last several years, the big ticket in town has been the teen melodrama One Tree Hill, which was on the WB and is now on the CW Network. Don’t let the off brands fool you, though; a surprising number of people watch it, maybe even you, for all I know. It’s one of the worst TV shows ever made, and I seriously do not mean that as an insult. It’s bad in the way that Mexican TV is bad, superstylized bad. Good bad. Indeed, there are times when the particular campiness of its badness, although I can sense its presence, is in fact beyond me, beyond my frequency, like that beep you play on the Internet that only kids can hear. Too many of my camp-receptor cells have died. Possibly One Tree Hill is a work of genius. Certainly it is about to go nine seasons, strongly suggesting that the mother of its creator, Mark Schwahn, did not give birth to any idiots, or if she did those people are Schwahn’s siblings. The One Tree character who supposedly lived in our house was Peyton, played by one of the stars, Hilarie Burton, a striking bone-thin blonde. Think coppery curls. I’d seen her on MTV right at the moment when I was first feeling too old to watch MTV. Superfriendly when we met her, superfriendly always.
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