how wrong they were


findarticles.com/p/articles/mi_qn4156/is_20011021/ai_n13962755

Some things never change. Could have been written today, not 6 (six!) years ago ...

"And Eric Nicoli, chairman of EMI Group, commented: "We are committed to improving the operating performance of EMI Recorded Music. In these challenging market conditions."

"LAST month, EMI Group plc warned that its profits were expected to drop 20% this year as a result of a slump in recorded music sales, particularly in the US and Latin America. The company also confirmed that it would impose further cost cuts in North America and Europe, and has created an exceptional restructuring provision of approximately $145m ((pounds) 100m)"