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Technology Stocks : IRID - Iridium World Communications IPO Announced!
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To: Goodboy who wrote (1820)5/26/1999 1:25:00 PM
From: Rocket Scientist  Read Replies (1) of 2693
 
<Motorola has written off their equity as worthless >

I didn't understand that they had taken any special writeoff. Isn't it the case that their cumulative equity share of IRID's losses just exceeded their investment in the partnership? The same thing is happening with Loral and G* I believe; each quarter Loral records it's share in G*'s operating loss, reducing the book value of its investment in G* by the corresponding amount.

Neither company carries the market value of the security on their balance sheet.
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