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Blockbuster: Shares Pressured by Financing Issues

in News on November 7, 2008 at 10:07 am PT

Blockbuster shares are selling off sharply today due to concerns about the company’s financial outlook for the near future. Slim DVD releases, unheard-of Olympics viewership and remodeling plans–including one called “Rock the Block”–are factors that have negatively affected the bottom line for this year. In order to tighten the company’s belt and get through its current rut, CFO Thomas Carey suggests putting some capital projects on hold for a while. In other words, “Block the Rock.”