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Preparing For Goodwill Impairments

Law360 (January 23, 2009, 12:00 AM EST) -- The financial crisis of 2008 has had a great impact on the stock prices of companies in the financial sector’s landscape. Stock prices of companies such as Citigroup Inc. and Bank of America Corp. have declined over 80 percent in the last two years. But the market price decline was not confined to companies in the financial sector.

The S&P 500 index, which represents a broad cross-section of the economy, declined by about 38.5 percent in 2008, its worst performance since 1937. While the financial sector...
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