[C15.] Broadcaster Writes Off $1.5 Billion British Sky Broadcasting, the satellite television broadcaster, said it was writing off its $1.5 billion investment in the Kirch Group because it had no evidence that Kirch could make good on its commitments.
The Conseco Corporation, which had said it would restate its 1999 profit because it was writing down the value of one asset, yesterday reported sharply lower profit and changed numerous figures from the numbers it had announced in February.
But back in June, just as it was writing up its conclusion that Ponta had plagiarized part of his thesis, CNATDCU's general committee was dissolved by the science and education minister of the time.
The company said it was writing down $3.5 billion on its credit derivatives portfolio, including a credit impairment of $200 million that it expects to actually incur.
Three weeks later, Enron disclosed that it lost $618 million in the quarter and that it was writing down $1.2 billion of its net worth partly to reflect the reversing of some of its complex deals.
Citigroup said at the time that it was writing down the value of its remaining interest in the business.
It said it was writing down the value of its wine business by 600 million to 700 million Australian dollars ($575.5 million to $671.4 million).
The government services group, which has been dogged by scandals, including overcharging the taxpayer for tagging prisoners, said it was writing down the value of its business by £1.5bn.
As if that were not enough, the company revealed late last month that it was writing down the value of its acquisitions by $44.8 billion, believed to be the largest such loss in history.
Worse, on January 29th another large South African mining group, Anglovaal Mining, said it was writing down by half the value of its Zambian operations.
The airport said the commission's data and analysis fell short of the standard required for balance and fairness and that it was writing to the prime minister to express its concerns.
