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5 Things Smaller Than Wachovia's $23.7 Billion Loss

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I'm not an accountant, but I can't quite understand how they can write off $19-billion in goodwill. How does goodwill get on a balance sheet in the first place? I never saw that on any balance sheet, and I've been a consultant to many companies.

ad of VT 5:53PM October 22, 2008

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The Ticker

Kirk Shinkle is a senior editor at U.S. News. He writes daily about ups and downs in equity markets, sectors and stocks. Formerly, he covered business and economics on both coasts for Investor's Business Daily.

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