Coming Financial Collapse Moderated Message Board

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Strategies & Market Trends : Coming Financial Collapse Moderated

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To: pater tenebrarum who wrote (274)	6/22/2001 9:46:24 PM
From: baystock	Read Replies (1) of 974

The biggest chunk of Nortel's loss was a $12.3 billion write-down for acquisitions that are now nearly worthless. Many other companies are in the same boat, having made acquisitions over the past couple of years that have declined in value along with the stock market. Worse yet, new accounting rules are going into effect Jan. 1 that will force companies to be more rigorous about writing down the value of these assets. Many companies are facing the abyss, contemplating huge charges in the next six months. "It's going to be a bloodbath," says Bob Willens, an accounting and tax analyst at Lehman Brothers Inc. businessweek.com

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