'Distractions' Crushed Sallie? Lord, That's Lame
How am I? Don't ask. The Business Press Maven's soul feels like it's lost in a howling desert. If you think the business media is ridiculous for constantly parroting the excuse by retailers that "the weather ate my sales," we've now seen worse.
The new reigning most creative excuse maker is Sallie Mae(SLM Quote), the troubled student-loan lender. When reporting a net loss of $344 million vs. a profit of $263 million a year ago, its chairman said at a shareholders meeting that ... the pending buyout made him lose his concentration.
"It's clear that the deal distractions are significant," said Albert L. Lord. "They cost us earnings momentum."
The Business Press Maven will now pause for a moment for comic effect. Heck, let's give it two moments. ...
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