*(And then the company announces that he’s saying until January, so it tanks again. A tough month for Dick’s ego).
There it is again: Further proof that Dick Parsons is worth almost exactly -$0.40 a share (-$1.5 billion) to Time Warner shareholders.
Two weeks ago, when the Times of London reported that Dick was headed out to pasture, the stock jumped…40 cents. Later, when Time Warner furiously denied the report, the stock dropped…about 40 cents. And today, as the report surfaces again, the stock jumps…about 40 cents.
The stock market’s a decent discounting mechanism, and its estimate of the value of Dick Parsons to Time Warner is both consistent and crystal clear: negative $1.5 billion.