Losses Beyond Imagination
Posted September 15th, 2008 by adminAluminum producer, Alcoa Inc., announced an unexpected loss of $497 million, its second loss in a row. The Pittsburg-based company blamed the unprecedented economic downturn and the continuing decline of metal prices The company is exploring ways to save money and is cutting costs to show at least a marginal profit in the next quarter.
Tags: economy slump, losses
Filed under:Turnover