Sailing Close to the Wind

Turner takes a soaking with TBS's latest financial results

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In announcing last week's dismal performance figures, TBS accountants tried hard to get out all the bad news at once. Their financial statement included $26 million in loss provisions for the ill-starred Goodwill Games, which had ended less than four weeks earlier. Turner noted that while his losses are "on their face, quite large," TBS business operations continued to show "satisfactory growth." The seafaring entrepreneur clearly intends to hang onto his dogged spirit of optimism as he tries to beat past the threatening reefs.

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