This, in turn, can trigger write-downs
, and enough write-downs
can create problems with creditors.
But Thain said he could not promise the company will avoid further write-downs
on subprime mortgage-related positions.
Prince handed in his resignation amid the huge write-downs
and ongoing management and investor frustration with his management and the company's long-stagnant stock price.
Gemstar's shares have fallen sharply since March 18, when it announced after trading had ended for the day the sudden departure of its co-president Peter Boylan and the $5 billion write-down
Thus, the IRS ruled that the write-down
and amendment to the ESOP would not result in a contribution to the ESOP trust under Sec.
The sharply higher-than-expected subprime write-downs
indicate bad loan woes are expanding among financial institutions.
Further, the Code grants the Service much discretion in determining whether the taxpayer's accounting method clearly reflects income,(20) which serves as another limitation to an inventory write-down
Components of the resersal may include an estimated loss from operations during the phaseout period, any write-down
to net realizable value and estimated costs of disposal.
3 million in write-downs
of its Permian Basin oil properties.
a) During the current quarter, the Company recorded restructuring costs aggregating $24 million, principally related to the write-down
of certain surplus or underutilized assets of the Company's automotive and wallcoverings businesses and to provide for the obsolescence of certain manufacturing processes as a result of shifts in customer demand.
The information in this news release contains forward-looking statements, including the statements that NOVA Chemicals will take a non-cash asset write-down
of approximately U.
This charge includes an asset write-down
of approximately $50 million for the Beartrack development property, as well as costs associated with closing the Royal Mountain King and Paradise Peak mines.