K,Well if they lost $10m on it, then it must be somewhere in...

K,

Well if they lost $10m on it, then it must be somewhere in that vacinity.

Now, if they sell it for more than its written down value, then they'll make a profit (again) and be due for bonuses, no doubt.

The formula is simple.

1) Buy something and immediately tell shareholders its worth more and book a "gain on bargain purchase"

2) Take bonuses for being so 'clever' as to acquire an asset cheaply.

3) Realise that it isn't worth nearly what you paid for it.

4) The next year, write it down, but keep on paying your ridiculous salaries.

5) Get shareholders to put in more money to pay your salaries.

6) Bad mouth any shareholders who dare to sell and blame them for all of the ills of the company.

7) Further write down the asset the next year to near nothing.

8) Sell the asset for a fraction of what was paid for it, but more than the written down value and call it "gain on brilliant sale"

9) Take bonuses for being so 'clever' as to sell an asset for more than its book value.

Fool me once, shame on you; fool me twice, shame on me.