Venezuela has the largest proven oil reserves in the world. It was once so rich that Concorde used to fly from Caracas to Paris. But in the last three years its economy has collapsed. Hunger has gripped the nation for years. Now, it’s killing people and animals that are dying of starvation. The Venezuelan government knows, but won’t admit it!!! Four in five Venezuelans live in poverty. People queue for hours to buy food. Much of the time they go without. People are also dying from a lack of medicines. Inflation is at 82,766% and there are warnings it could exceed one million per cent by the end of this year. Venezuelans are trying to get out. The UN says 2.3 million people have fled the country - 7% of the population.

Tuesday, August 9, 2011

Disney Q3 earnings beat Wall St. expectations

Gains in revenue (7%) and net income (11%) keep strong conglom reports rolling

By MARC GRASER
The Walt Disney Co. kept a strong round corporate earnings for media congloms going, with the Mouse House reporting nearly $10.7 billion in revenue (up from $10 billion, a 7% increase) and nearly $1.5 billion (up 11%) in net income during its third quarter, which ended July 2.
"Our third quarter demonstrates the continued strength of our media networks, including ESPN, parks and resorts and consumer products," said Robert Iger, president and CEO of the Walt Disney Co. "In these turbulent times, our company and its array of strong brands are well-positioned to deliver long-term shareholder value."  Thanks Variety.
















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