His cheerleading of the company's stock while knowing of an impending billion-dollar writedown is seriously incriminating.
The writedown of Canal Plus leaves it worth euro6.5 billion on Vivendi's books.
Johno Toshiyuki, an analyst with Nikko, Salomon Smith Barney, says Kajima has taken a big writedown in its land assets.
Vivendi's gigantic loss for last year included a euro12.6 billion writedown in the value of assets bought during its acquisition binge.
Yet an essential counterpart to the Greek writedown is a credible firewall around heavily indebted yet solvent borrowers such as Italy.
Greece cannot solve its own problems, which is why private holders of its debt will suffer a 50% writedown in its value.
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It is possible that Vivendi's auditors will ask for a further writedown when the group closes its half-year books at the end of June.
The banks argued a principal writedown plan would encourage homeowners to default, a notion some attorneys general on the call disputed, the person said.
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Benjamin Silverman, the head of research at InsiderScore, doesn't break out in a cold sweat at every headline reporting another writedown or missed quarterly earnings forecast.
It will likely lose again this year with a possible further writedown of the value of its 15% stake in U.S. hedge fund Fortress Investment Group.
Credit Agricole has warned it will make a huge writedown of the value of its assets to reflect a worsening eurozone economy and new tighter regulations.
But Cyprus' banks held a lot of Greek debt and suffered significant losses when they took a writedown of those bonds as part of the Greek bailout.
Mr Kloppers said the writedown on the Fayetteville assets was also a reflection of BHP's decision to change course and shift drilling from dry gas to liquid-rich fields.
So while the EFSF scheme is designed to offer insurance to bondholders, the European leaders' insistence that the Greek writedown be voluntary will make euro-zone debt harder to insure.
After Macaulay got word at a dinner that Dresser-Rand might be turning around, he approached Ingersoll-Rand with a deal to get the unit off its books without taking a writedown.
The company had to take a massive writedown of its inventories after orders for 1, 965 tons of drill pipes for customers in North America, Russia and Central Asia were canceled.
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The aQuantive writedown may presage moves such as giving away display ads for free, according to Gilad de Vries, vice president of brands and agencies at Outbrain, a content recommendation startup.
It seems that if Vivendi lands the Universal studio and music business it is after, it will inherit a one-time writedown on studio assets, which will have the effect of boosting reported earnings in future years.
However, if it was decided that a more prudent aim would be to cut the debt to a still high 110% of GDP in nine years, that would require new official loans of 109bn euros and a 60% debt writedown by banks and investors.
It's also because although Germany could probably afford a 50% writedown of what it's owed, given the strength of its economy and public finances (the writedown, excluding the Target2 credit, would be equivalent to just over 1% of its GDP), the same probably can't be said of Spain, Italy or even France (where the writedown costs would also be around 1% of GDP).
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