"We believed it was doable," Steve Case told attendees today
AOL Time Warner reduced its 2001 earnings expectations Sept. 24. "We probably could have [hit expectations] if we really tried," Mr. Case said, but that doing so would have meant significantly curtailing investments it deemed necessary for the future.
AOL Time Warner units went though rounds of cutbacks this year, including thousands of staff reductions. The company had promised Ebitda -- earnings before interest, taxes, depreciation
Cable unit 'interest'
Mr. Case tried to joke away a question regarding his company's interest in AT&T's cable unit -- "You think I'm going to answer that?" -- but ultimately conceded that "obviously we would define ourselves as an interested party."