Steve Case, co-founder of AOL, which was at one time the biggest online service in the world, apologized for the company's merger with media conglomerate Time Warner Inc. in an interview with U.S. journalist Charlie Rose last Friday. Case, who got shown the door as chairman in 2003 and left the board entirely in 2005, said, "Yes, I'm sorry I did it," referring to the 2001 merger of Time Warner and AOL. The deal, known as one of the worst corporate mergers in history, destroyed some $200 billion in shareholder value, although multi-billionaire Case walked away with enough dough to buy himself a medium sized South American country. Case called the deal's aftermath a "disappointment," but he said he still believed it was "a good idea," according to the interview with Rose. Hello… Some kind of disconnect there somewhere. If it was a good idea, why is he sorry he did it? I guess I’ll never make the grade in the Gordon Gecko stakes.
It never hurt me!
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