Performance
The company had sales totaling about $5 billion in 1981, while their earnings were $.06 per share, the lowest point in a decade. The drop was attributed to the oil glut, which drove down prices.
That year, Jack Donnell began eliminating some of the communications and publishing properties and whittled down the list of subsidiaries to a level the company could function with. Charter had net earnings of $53.89 million, or $2.01 a share in 1983. In 1984, the company reported a net loss of $749.34 million, $685 million of which the company attributed to discontinued operations, the expenses of filing for bankruptcy and provisions for estimated losses on disposal of assets which were partially offset by gains on assets sold.
Read more about this topic: Charter Company
Famous quotes containing the word performance:
“O world, world! thus is the poor agent despised. O traitors and bawds, how earnestly are you set a-work, and how ill requited! Why should our endeavour be so loved, and the performance so loathed?”
—William Shakespeare (1564–1616)
“The way to go to the circus, however, is with someone who has seen perhaps one theatrical performance before in his life and that in the High School hall.... The scales of sophistication are struck from your eyes and you see in the circus a gathering of men and women who are able to do things as a matter of course which you couldn’t do if your life depended on it.”
—Robert Benchley (1889–1945)
“So long as the source of our identity is external—vested in how others judge our performance at work, or how others judge our children’s performance, or how much money we make—we will find ourselves hopelessly flawed, forever short of the ideal.”
—Melinda M. Marshall (20th century)