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Gold/Mining/Energy : Mirant Corporation (MIR)
MIR 24.59+3.2%1:25 PM EST
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To: Braincramp who wrote (261)2/25/2002 5:59:08 AM
From: KyrosL   of 903
 
Mirant's goodwill exists because when Mirant separated from SO their power plants were valued closer to market value rather than at their fully depreciated value. The difference is goodwill. Thus Mirant's goodwill has a solid real asset base. Note that, as others have pointed out, Mirant's power plants are still carried on their books at below replacement value, even if you take goodwill into account.

As for SO not having any goodwill, that's because they carry their plants at a fully depreciated value. You must also note that SO is selling at more than twice their book value, which gives you an idea of what the replacement value of their plants is.

Kyros
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