Rodent Regatta

FINANCIAL REPORTING WITH THE COLOR OF CREATIVE WRITING

Charter reported a narrower loss, and so did RCN. It’s all in the reporting style and how the news is ”colored” by the words.
RCN REPORTS BIGGER LOSS THAN EXPECTED The RCN Corporation, the cable television, phone and Internet provider backed by Paul G. Allen, said it would have a larger second-quarter loss than it had expected because of ”the severe slowdown in the telecommunications industry and the economy, and the limited available capital” within the sector. The company said it had curtailed growth plans and had nearly $900 million in asset impairment and other costs. RCN, of Princeton, N.J., reported a net loss of $1.09 billion, or $10.46 a share, compared with a loss of $676.9 million, or $7.38 a share, a year earlier. Sales rose 15 percent, to $128 million from $111 million. David C. McCourt, RCN’s chief executive, said that the company added customers to its network during the quarter and that ”we continue to fine-tune our marketing and service delivery strategy.”   (NYT)