Those companies with 'short' land banks (ie those who have bought a lot of their land recently), or those in geographic areas where prices are falling the most, will be the first to be compelled to make write-downs
NEW YORK: Merrill Lynch yesterday reported about $16 billion in mortgage-related write-downs
and adjustments in the worst quarter of the company's history.
represents $5 billion to $7 billion in net income on an after-tax basis, it said.
Gemstar, a technology licensing company, reported last week that it would take a write-down
of $5 billion to reflect new accounting rules governing how acquisitions are valued.
Although the Trust Shares had declined in value by 65%, the write-down
will be less than this percentage because Bank, in order to protect the status of Company Loan 1 as a securities acquisition loan, would not agree to a write-down
in excess of the aggregate principal amount of all of the Trust Loans except Trust Loan 1.
, as well as some refinancing with the company's bankers, allows Tembec to start from scratch as it attempts to get the mill - which produces high-quality paper packing board - to full production.
Nevertheless, while this plan may accomplish a Greek write-down
, and may support the banks through that write-down
process, it still does not address the central issue.
9 billion in write-downs
on collateralized debt obligations and subprime mortgages.
15) There, the Court disallowed the write-down
because the taxpayer provided no objective evidence of the reduced value of its "excess" inventory.
On the first issue, discussion centered on whether a write-down
of nonmonetary assets (for example, fixed assets or identifiable intangibles) to net realizable value should be reversed.
B) -- Includes a write-down
of $6 million (pretax) for certain oil properties.
Accordingly, the Company recorded a write-down
The charge primarily covers restructuring costs related to its Machinery and Equipment and Industrial Chemicals segments and companywide support staffs, as well as the write-down
of assets in the Precious Metals segment.
NOVA Chemicals will take a non-cash asset write-down
of approximately U.
82 per share, primarily to cover the write-down