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  1. #1
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    Default ABF to Pay $64 Million Goodwill Charge





    ABF to Pay $64 Million Goodwill Charge

    William B. Cassidy
    Jan 22, 2010 3:52PM GMT

    LTL trucker notes 'extremely challenging' conditions, raises base rates


    Arkansas Best will take a $64 million charge in the fourth quarter because of impairment to the value of goodwill at its less-than-truckload subsidiary, ABF Freight System.

    The company blamed the charge on "extremely challenging freight conditions" in "a deep and prolonged recessionary period" that "severely impacted" the LTL trucking industry.

    continued

  2. #2
    I Am Rocking Now

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    Default Re: ABF to Pay $64 Million Goodwill Charge

    I don't know exactly what this means but we all know whats coming very soon.

  3. #3
    Resistance is futile.

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    Default Re: ABF to Pay $64 Million Goodwill Charge

    Wonder when the economy will turn around? It is still very bad.

  4. #4
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    Default Re: ABF to Pay $64 Million Goodwill Charge

    If you are going to spread good will shouldn't you give until it hurts.LOL

  5. #5
    It's 5 PM somewhere!

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    Default Re: ABF to Pay $64 Million Goodwill Charge

    Where is the 'goodwill charge' on my 1040 tax form?
    I was thinking of deducting a goodwill charge of , say , about 15%.
    I am sure the IRS will allow this.

  6. #6
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    Default Re: ABF to Pay $64 Million Goodwill Charge

    Quote Originally Posted by x475 View Post
    Where is the 'goodwill charge' on my 1040 tax form?
    I was thinking of deducting a goodwill charge of , say , about 15%.
    I am sure the IRS will allow this.
    You know how We Teamsters, do it...

    Make the deduction...

    Then < if > audited, claim it wasn't You...

    Then slip in this news story (if necessary) validating Your reasoning for the deduction...

    If that fails... then You can claim that You didn't know any better and that You weren't properly trained!

  7. #7
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    Default Re: ABF to Pay $64 Million Goodwill Charge

    I tried to find out on the internet what exactly this means as it's got me pretty nervous. I am not a tax person or accountant so I really can't quite figure this out but I am sure it's not good!

  8. #8
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    Default Re: ABF to Pay $64 Million Goodwill Charge

    Quote Originally Posted by Teamster View Post
    Wonder when the economy will turn around? It is still very bad.
    The government and the analyst can spread all the good cheer they want that the state of the economy is stabilizing...

    But, if everything cost more to make (since everyone is raising their prices on everything) consumers aren't going to spend...

    That's were We are at right now...

    Nobody can afford anything!

    So, We all wait... and will continue to wait, until the next great move is made... all the while hoping that another disaster doesn't cause another setback in Our world economy.

    If find it awful interesting that, that is all it takes... is for one shake up (no pun intended) to affect the entire world and the continued stability there of, of all entities traded and consumed around the world...

    Too much exposure to world events, through media sources... is plaguing Our home turf initiatives of build up Our own national economy.

    Those of Us living on American soil need to turn Our televisions off and stop reading all the negativity in Our newspapers... for Us to be able to forge ahead and jumpstart Our own economy...

    We need to find a way to spend...

    Even if it is just one small item a week!

  9. #9
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    Default Re: ABF to Pay $64 Million Goodwill Charge

    Quote Originally Posted by laidoffabfwife View Post
    I tried to find out on the internet what exactly this means as it's got me pretty nervous. I am not a tax person or accountant so I really can't quite figure this out but I am sure it's not good!
    I don't understand this either but, I did find this last night after I posted this:



    Goodwill

    Impairment Charges

  10. #10
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    Default Re: ABF to Pay $64 Million Goodwill Charge

    Quote Originally Posted by Teamster View Post
    Wonder when the economy will turn around? It is still very bad.
    Tiny gains will be made in the second half of 2010

 

 
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