Word: goodwille
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Now "goodwill impairment" - that's when that extra millions (or billions) in the purchase price turns out to have wasted, when it becomes apparent that the value of the merged company not only isn't more than the original buyer thought it was worth, but a whole lot less. Such...
But this year the rules have changed. The Financial Accounting Standards Board (yes, there actually standards in accounting) has decreed this year that companies must test their goodwill assets for "impairment" annually - and when they find some, they've got to fess up. And while AOL Time Warner's number...
And so Qwest Communications, which acquired the former U.S. West in 2000 only to find a year later that Qwest itself was the overvalued asset, recently predicted a second-quarter goodwill write-down of $20 billion to $30 billion. Blockbuster on Wednesday logged its own loss of $1.82 billion. And...
Investors generally ignore the bad news, either because they'd seen it coming - AOL Time Warner telegraphed its loss weeks ago - and because nearly every survivor of the tech bust has a few embarrassing purchases to own up to. Besides, AOL Time Warner's shares are down 41 percent this...
Remember, the fall of Enron started with a one-time write-down. And there's not a lot of goodwill left at that company any more.