Valleywag quotes a memo from AOL head Randy Falco talking about how AOL's plans for success are all about making the old into the new.

Falco: "The market is recognizing the value of what we've built together over the past year and a half, as we've shifted from a subscription model to an advertising-supported business. It's a remarkable transition that is gaining momentum with each passing week.
(snip)
Our collective rebuild of AOL over the past year and a half has positioned the company to prosper in this dynamic market. We know that strong, profitable companies have more control over their own fate. We still have more work to do toward this end. "

Is Falco a Spinmeister--or saying exactly what Yang might about Big Purple? VW thinks the latter? How about you all?