<div><h1> SEMANTICS AND THE BOTTOM LINE </h1><p>I was amused by the letter to the editor from Steven Iaco, senior managing director at CB Richard Ellis, stating that the company would have been profitable in 2008 if not for its $1.2 billion noncash [goodwill] writedowns (Feedback, Apr. 20). Apparently management doesn't feel responsible for such writedowns because they were capitalized on the balance sheet for a few years before pesky accounting rules forced them to acknowledge the assets weren't worth what they paid for them.</p><p>
Todd Eaton</p><p>
ROCHESTER, N.Y. </p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=49043736&bid=informcom" /></div><div id="copyright"><div>

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