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Racing Discussion => Racing Discussion => Topic started by: Jeff on April 11, 2003, 07:46:26 AM

Title: CCS Bottom Line
Post by: Jeff on April 11, 2003, 07:46:26 AM
Hey Kevin [Elliott],

Understandably CCS has good & bad events.  Out of all of our curiousities though, can you share your 02 financials with us?

Title: Re: CCS Bottom Line
Post by: Super Dave on April 11, 2003, 07:51:18 AM
I believe that CCS makes a small amount of money for CCE.  Like a tiny investment (7-10%).  However, FUSA takes any profit and turns it immediately into a loss.
Title: Re: CCS Bottom Line
Post by: Dawn on April 11, 2003, 07:59:48 AM
Quote However, FUSA takes any profit and turns it immediately into a loss.

LOL!!!

That's why F-USA needs to run with CCS at RA.

Dawn   :)
Title: Re: CCS Bottom Line
Post by: Super Dave on April 11, 2003, 08:08:36 AM
And Mid-America, Daytona, Daytona, Summit, etc.
Title: Re: CCS Bottom Line
Post by: sdiver68 on April 11, 2003, 11:02:09 AM
You are kidding, right? :O

You can get a copy of CCE's financial statments here:

http://www.clearchannel.com/ir.php

Other than that, I would be shocked if CCE provided 1 more detail.  Kevin would be fired and maybe sued  and liable for SEC violations if he provided that.  You MAY get something out of investor relations...but I seriously doubt it unless you have a significant holding.
Title: Re: CCS Bottom Line
Post by: Dawn on April 11, 2003, 11:48:47 AM
Here's the link to their annual shareholders report.  The financial statements will be in there.  Be aware that this is 111 pages long.

http://www.clearchannel.com/documents/financial/ClearChannel_10k_2001.pdf

Dawn   :)
Title: Re: CCS Bottom Line
Post by: MightyDuc Racing on April 11, 2003, 01:22:48 PM
I skimmed through it and don;t see anywhere that it breaks it down to a CCS or Formula USA level, or eve close to it for that matter.  However, it doesn't really look like they are exactly losing any money anywhere.
Title: Re: CCS Bottom Line
Post by: sdiver68 on April 11, 2003, 05:58:19 PM
2001 and 2002 are both negative years....according to those statements.

Check out the Income Statements with the parenthesis around the bottom line...that's a negative.
Title: Re: CCS Bottom Line
Post by: Super_KC124 on April 11, 2003, 06:15:29 PM
Shall we pass the hat at each race?  ;)
Title: Re: CCS Bottom Line
Post by: EX#996 on April 12, 2003, 06:23:47 AM
Quote2001 and 2002 are both negative years....according to those statements.

Check out the Income Statements with the parenthesis around the bottom line...that's a negative.

Trust me...

Any good accountant can show a loss in any year.

QuoteShall we pass the hat at each race?  

Too funny!

Dawn   :)
Title: Re: CCS Bottom Line
Post by: sdiver68 on April 12, 2003, 06:43:14 AM
True Dawn...

I make my living doing Financials...and do pretty well at it too...

But 2 years in a row indicates they at least are not making a killing.  Add to that Kevin's hiring freeze...companies don't do that type of thing when they ar rolling in the money.
Title: Re: CCS Bottom Line
Post by: Jeff on April 12, 2003, 07:20:26 AM
QuoteTrue Dawn...
But 2 years in a row indicates they at least are not making a killing.  Add to that Kevin's hiring freeze...companies don't do that type of thing when they ar rolling in the money.

But that's CCE on a whole...  I'm just curious about what CCS brings to the table for the company.  I'm sure it's not a ton, but...
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