Lawful Evil (lawful_evil) wrote,
Lawful Evil

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We will be meeting Mom and Jim for dinner tonight. They are coming my the apartment about 4:30 or so. The party is tomorrow.

Raytheon released it earnings notice, "another strong quarter for Raytheon". It is classic spin. If you read the first couple paragraphs of the notice you get the feeling that everything is fine/awesome in fact. The mention in passing that settling some lawsuit affect earnings, but that everything was fine and this was a one time event. Every quarter we have one time events, they are just different every quarter. They go on to mention "strong bookings, record backlog, double-digit sales growth, and strong free cash flow". They cover 30+ billion in bookings and 200 mill in profits here, 300 mill in profits there, etc.

If you go to yahoo finance and look up new news on Raytheon you find a different story, "Raytheon posts Q2 loss of $108 mln". They never mentioned this in the results sent to employees by Swanson. Did he figure we wouldn't notice?

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