> What is the value of an enterprise that cannot sell airplanes due to buyer sentiment and regulatory refusal? I argue it is closer to $0 than you might think.

> What is the value of an enterprise that cannot sell airplanes due to buyer sentiment and regulatory refusal? I argue it is closer to $0 than you might think. There is a lot of residual value in the physical plant of the enterprise--the real estate it owns, the machines it owns, the resources it has in inventory. Actually, there's a name for this value: book value.