Ummm . . . they are currently losing money on operations, completely disregarding the write-down (which hasn't actually happened, yet). You are correct that com

Ummm . . . they are currently losing money on operations, completely disregarding the write-down (which hasn't actually happened, yet). You are correct that companies often choose to make these write downs in quarters which are otherwise going to be bad. That is accounting trickery, but it is still a real loss that has happened regardless of when it is recognized. It is absurd to ignore it completely.