Amazon is forecasting third-quarter losses of $410 million to $810 million.
It is difficult to believe that Jeff Bezos' machine ever registers a loss, but Amazon says it’s because $410 million will go to stock-based compensation. It explains the remaining projected losses on investments in Web services, digital content and the development of new fulfillment and sortation centers, according to Business Insider.
Ominously, investors are growing impatient, Business Insider says.
Other news and notes:
-- The Eagles open training camp today – to the delight of the beleaguered Philadelphia sports fan. The Phillies are just a foul ball of their former selves, the Sixers again intentionally will be big losers and the Flyers are months away from opening day.
The Greater Lehigh Valley sports fan should recall the many years that the Eagles trained at Lehigh University in Bethlehem. That ended last summer, as did the economic boost and accompanying swelling of civic pride that came along for the three-week ride.
-- Have you heard of Jony Ive? I didn’t think so, as I had not, either. But he is the man behind the designs at Apple – one of the handful of key people to lead that company to stardom. For a look at how he got there, check out this story in a newspaper in the UK.
-- Here’s a good read on the coming avalanche of outdated digital hardware, known as smart garbage. What can we do with all of the stuff that sometimes becomes obsolete in a year? For the New York Times piece, click here.
-- According to Reuters, Exxon is considering a major expansion of its refinery in Beaumont, Texas. We’ve said it before and no doubt will say it again: Produce as much oil and other energy as we can at home so we no longer are dependent on the Middle East.
-- And finally, although Facebook stumbled out of the gate when it went public two years ago, it has recovered nicely. Its market value today is about $190 billion, Reuters says.
Now excuse me while I spend another 10 minutes on Facebook.