"Subscribers pay nearly $6 billion a year in fees. Online advertising this year is expected to bring in $1.8 billion in revenues even after plunging 31% from last year. After marketing, product development, depreciation, and other expenses, operating income should still be about $1.5 billion from the U.S. If AOL were charged for, say, one-fourth of the corporation's total interest expense and corporate overhead--and even an extra $100 million if it joined the new bandwagon and expensed stock options--it would still make nearly $900 million this year in the U.S. before taxes. "

BW Online | July 29, 2002 | Commentary: It's Not Time to Jettison AOL--Yet