Back in June 2007, Rite Aid (RAD) bought Brooks & Eckerd pharmacies for $3.4 billion, a deal that put it third behind CVS and Walgreens. However, that hasn’t kept it from losing money in every quarter since the deal took place- including the last quarter, where it reported a $208.4 million loss on $6.46...
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In a move that’s not altogether unexpected, the Ford Motor Company has decided to discontinue its most historic brand: Mercury. It was founded in 1939 as an “in between” for the Ford and Lincoln brands. The company will take most of the resources that are currently going toward Mercury and apply them to growth...
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Mortgage finance house Freddie Mac just suffered a $25 billion loss, forcing it to dip into funds set aside for its bailout. Counting all its tax assets and accounting for bad securities and mortgages, Freddie Mac lost $19.44 per share, and its net worth fell to below zero. The Treasury has already invested almost...
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The last round of elections left most people in America either happy or angry, but it also changed expectations for a lot of companies. Speculation was rampant that a Congress with a Democratic majority would lead to more scrutiny on defense contractors and pharmaceutical companies, all while being more lax with other industries. Fannie...
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