NBC draws ire for not streaming ceremony
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A spectator waves a flag of Great Britain as pyrotechnics light up the sky over the Olympic Stadium during the Opening Ceremony at the 2012 Summer Olympics, Friday, July 27, 2012, in London.

Markus Schreiber — AP Photo

— A look at media coverage of the Summer Olympics:

Even before NBC signed on for its coverage of the Summer Olympics in London on Friday, it drew a storm online for its decision not to stream the opening ceremony digitally. Despite the grumbling, it’s a decision that may pay off for the network.

NBC Universal has promised to stream live online every athletic competition in the Summer Games for the first time. But the opening and closing ceremonies were always planned to be shown on tape delay, a network spokesman said. Coverage began shortly before 8 p.m. on the East Coast, about the same time that spectators in London – which is five hours ahead of New York time – were filing out of Olympic Stadium.

NBC Sports spokesman Christopher McCloskey said the ceremonies “are complex entertainment spectacles that do not translate well online because they require context, which our award-winning production team will provide for the large prime-time audiences that gather together to watch them.”

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Earnings perform like 2009; Boos then, boos now
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Nobody in Corporate America wants to go back to 2009, but by one measure companies are there right now.

Based on the 291 companies in the Standard & Poor’s 500 that have reported earnings so far – along with estimates for the rest – S&P Capital IQ expects overall profits to decline by half a percent from the same period a year ago. That would be the first time that profits have shrunk since the third quarter of 2009, just after the Great Recession. Analysts are predicting that earnings will shrink 0.3 percent for the third quarter, too.

Revenue for those 291 companies has increased just 2.3 percent, compared with a 10-year average of 7.1 percent, according to S&P Capital IQ.

Worse, companies are getting more pessimistic about the rest of the year.

Companies that should benefit from a recovery are instead getting ready for a slowdown. UPS, the world’s largest package delivery company, said it expects the global economy to get worse before it gets better. It lowered its profit forecast for 2012. Cisco Systems said it will lay off 1,300 people and warned that revenue for the current quarter will grow much less than expected. Chemical maker DuPont said this year’s profits will be at the low end of its expectations because of uncertainty about the economic outlook.

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