Right now the Multi-State Lottery Association estimates the chances of winning the grand prize at about 1 in 175 million, and the cash value of the prize at $337.8 million. The simplest math points to that $2 ticket having an expected value of about $1.93 so while you are still throwing away money when buying a lottery ticket, you are throwing away less in strictly economic terms when you buy into an unusually large Powerball jackpot. "I am the type of financial decision-maker who tracks bond and currency markets and builds elaborate spreadsheets to simulate outcomes of various retirement savings strategies," says Irwin. "I can easily afford to spend a few dollars on a Powerball ticket. Time to head to the convenience store and do just that."
I have had quite enough reimagining thank you. Just make it smoother, more reliable, more options, fix bugs please.
How does this fit into my worldview where H1-B Visa holders are taking all of our jobs and lowering all of our wages?
It depends on your definition of "our". Maybe try thinking "we geeks" instead of "me and my 319 million dear friends in the glorious US of A".
Looks through my posting history - I'm exactly the opposite of a Microsoft apologist.
I applaud you for that, but there is still no need to cut Microsoft slack where they don't deserve it. Which words describe the situation better: 1) "little accident" or 2) "slow motion train wreck"?
They make ads for that steaming POS.
I take it you were not particularly impressed by Bill Gates' butt wiggle then?
They're not going to die this year, but they do have a long decline ahead of them, just like IBM in the 90s.
Unlike IBM they won't pull out of it because they have no lucrative hardware business to fall back and no loyal stable of clients to turn themselves into a service operation. And unlike IBM, who only earned the hatred of a few thousand professionals, Microsoft has earned the hatred of millions and is still working on it.
For Microsoft, this ends at $0 per share.
the loss isn't from Bing's success or lack thereof. It's from aQuantative's write off
It's from Microsoft's lack of online success in general. Aquantive was supposed to sell display ads but nobody wanted to pay Microsoft to display their ads. For some reason.
It's not from their "continued struggles", it's from a single acquisition 5 years ago.
Why do we keep hearing this tired apology over and over again? Aquantive was worth $6.2 billion on the day it was bought then slowly bled bit by bit until it was worth zero. What bled away was its "good will" (aka expected income) as it became increasingly apparent that Microsoft was unable to leverage Aquantive's auction model in the same way that Google had leveraged Applied Semantics.
Until there's something out there that "doesn't suck", I'd like Microsoft to remain healthy and viable.
What do you mean, "remain healthy"? Microsoft has had the corporate equivalent of liver cancer for a dozen years now. Chemo treatment has already started.
I guess when you're big enough you can do a six billion dollar oops and nothing much happens.
They didn't lose $6 billion, only $583 million.
No, they lost $6 billion+ on Aquantive. Thanks for playing.
I actually read TFA and it said they lost $6B due to a bad acquisition and that's why the quarterly profits were where they were.
See, the real story here is that Microsoft has been concealing this loss by carrying Aquantive on its books at far more than its real value. They did this in order to make their quarterlies look better than they actually are, therefore support the stock price. Microsoft hoped that the market would then regard this as a one-time expense (when it was really an ongoing loss over a period of years) and thus forgive them. And judging from the aftermarket movement, this strategem has worked perfectly. Whether it is legal is entirely another question. The word "fraud" comes to mind.
Even if Microsoft gets away with this, which they probably will, one fact can't be denied: Microsoft is weakening. The upcoming Windows 8 debacle should put the icing on the cake.