Wallace notes that some businesses have done substantial write downs in the wake of the bill, which Liasson counters by pointing out that there's a larger share of the business community that could be rallied to support the bill.
"At this level, we would expect a substantial write-down on the film," Doug Creutz, an analyst at Cowen and Company, wrote in a research note on Thursday.
Those must include a substantial write-down of Greece's existing debt and new fiscal strategies for Greece and other weakened economies emphasizing growth.
LaBranche said yesterday that it would post a second-quarter loss because of a substantial write-down of its specialist business.
John M. Devine, the chief financial officer, said G.M. would take a substantial write-down of the value of that stake in the third quarter.
But Disney may have to swallow a substantial write-down to get a deal with the banks that reduces Euro Disney debt to a manageable level.
In a statement on Friday, he said H.P.'s report had "failed to provide any detailed information on the alleged accounting impropriety, or how this could possibly have resulted in such a substantial write-down".
"We are also deeply disappointed to have to take a further substantial write-down in our aluminum businesses, albeit in an industry that continues to experience significant adverse changes globally," Jan du Plessis, Rio Tinto's chairman, said in a statement.
The financial news was not all good though, after Citigroup 's chief financial officer, Gary Crittenden Gary Crittenden, told an investor conference the bank may see substantial write-downs for the second quarter related to subprime mortgages, leveraged loans, and other exposures.
Still, investors took heart from some comments about the outlook in China and a suggestion that there would be no further substantial write-downs.
"There are going to be substantial write-downs taken to get them off the books".
