Ace finds &#36;154M accounting shortfall
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Ace Hardware Corp. discovered an approximately $154 million shortfall on its books while preparing to convert from retailer-owned cooperative to for-profit corporation and likely will have to restate its financial results for the last five years, President and CEO Ray Griffith said Wednesday.
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A low P/S ratio can point to undervalued companies.
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The owner's balance sheet shows losses of up to $400 a month Â a sum considered a good monthly wage.
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When Hewlett-Packard Co. (HPQ.N) warned of a profit shortfall last week, it blamed problems it had combining two SAP systems, something that the computer maker believed would be relatively simple when they were putting together a deal to buy Compaq two years ago.
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NEW YORK -- An income tax benefit narrowed Computer Associates International Inc&#39;s loss dramatically in the second quarter. The company reported Wednesday a net loss of $96 million, or 16 cents per share, but
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Broker Marsh &amp; McLennan Cos. and insurer Ace Ltd. (ACE.N: Quote, Profile, Research) have fired a total of six employees in recent days as a result of internal investigations related
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Stora Enso, the worldâs largest paper maker, left, wrote down the value of its assets by $1.36 billion because of higher wood costs and a deteriorating outlook for magazine papers.
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US mutual fund assets fell 2 percent to $7.4 trillion last month, as declining equity markets reduced the value of stock funds, according to a survey conducted by the Investment Company Institute.
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Australian insurer AMP returned to the black in the first half of the year with net profits of A$378m (£150m) after a disastrous foray into Britain pushed it A$2.16 billion into the red last year.
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ARLINGTON, Va. -- Bankrupt US Airways says it lost $232 million dollars July through September, more than twice as much as a year ago.
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By Kyodo News International, Tokyo  Feb. 19--TOKYO -- Victor Co. of Japan revised its group earnings forecast  for fiscal 2006 sharply downward Monday, with the pretax account showing a  loss of 7 billion yen compared to a profit of 4 billion yen projected earlier.
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Pocket an extra $35,000 doing next to nothing.
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The loss, which came to $3.41 a share, was in contrast to a profit of $45.4 million, or 97 cents a share, in the quarter a year earlier.
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The company reported a $2.15 billion tax benefit but said overall revenue dipped because of a 19 percent drop in traditional wholesale services.
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New Jerseyâs budget shortfall for retiree health care appears to be the biggest obligation among states that complied with a new accounting rule.
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Brokerage firm A.G. Edwards Inc.  on Thursday said quarterly earnings rose 8 percent as expenses declined, but sluggish equity markets caused profit and revenue to fall short of analysts' forecasts.
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The company reported a loss of $369.9 million in its fourth quarter, citing higher taxes, difficulty in its mortgage referral unit and costs for proposed spinoffs that would make five companies out of one.