AOL Writing Down $54 Billion
from the with-a-b dept
Well, we know that AOL-Time Warner likes to do things in a big way, so why shouldn’t their writedowns be the same way. Suddenly Global Crossings $11 billion loss looks weak and scraggly compared to AOL-Time Warner’s decision to writedown $54 billion (with a b) in goodwill charges. It probably does make sense from an accounting standpoint to get the damn thing off the books, but it certainly looks pretty insane when you look at it. Ooops, we overpaid by $54 billion dollars.