I really hate headline writers who work in business news, because you end up with stuff like this: Quadruple profits served up at Tim Hortons. In the entire body of the story, no mention is made of the fact that there were one time costs that depressed earnings in the previous year’s quarter. Even in this story, the mention is three-quarters of the way down the page:
Earnings a year earlier were cut by C$33.5 million to reduce goodwill and the value of assets after a 2004 acquisition in New England, Tim Hortons said.
And here, halfway down:
However, the earlier results had been dragged down by $42.5 million in one-time items partly related to its initial public offering.
Not even sure why those two explanations don’t jibe. Admittedly, it’s good news for the person who’s willing to do more reading than the average person, but it would almost be worth it to have a site devoted solely to debunking these kinds of news items. But it seems rare that the financial media has time for such in depth coverage, to the detriment of itself and those who read it without a keen eye.