On the positive side it will be hard for them to find another 2 billion to write down.
Bullwinkle - thats what I kept telling myself too - and quarter after quarter they found a new way to screw us. I'm finally out of this turkey as of Tuesday having sold the majority of my last pitiful
holdings in the last Thursday - Friday runup to 11 cents - Marc Tellier wiped out my total net worth in the markets last year ( combined with my own greed and stupidity in not seeing what
ZE saw so clearly ) - my hat's off to you ZE having read all the 820 posts in this forum in the last two days.
However to get back to your point - these numbers come from Globe Investor and TD Waterhouse on the balance sheet of Yellow Pages - those two little entries for Goodwill and Intangible Assets that YLO likes to have lots of and that only really exist in fantasyland. (rounded off since they are just nonsense anyway)
December 31, 2007 - 8.5 Billion $
December 31, 2011 - 4.5 Billion $ wrote off Billions
now he wrote off 2.9 Billion $ more in last weeks earnings announcement
Which still leave a further 1.6 Billion $ he can write off.
Plus the problem of the 1.5 B of debt most of which comes due next year.
Let's not even get into the .5 Billion $ they lost on the Autotrader sale, the billion $ they squandered on Canpages (now closed), and
the 26% raise they voted themselves for doing all this. I'm just surprised Mr. Marc P.Tellier and Co didn't vote themselves a performance bonus as well for their swell job.
Please don't underestimate the abilities of Mr. Marc Tellier to find new ways to screw you - he hasn't let us down yet - it's really the only thing he's good at - any he stays awake nights doing it.
There should also be an investigation as to the counting of the proxies in last weeks voting - that worked out conveniently for Mr. Tellier and the BOD didn't it? - I know I voted several hundred thousand shares against every proposal and every Director they wanted.
Frankly the kind of things I've seen with this stock I expect from penny pump and dump mines - but not from a national company - as perfect hindsight - much too late - I would not touch this company again at any price.