Joe, that big goodwill (and the changing attitude of the market to that goodwill) was the main reason for taking TYC out of the core last year ant around $50. It turned out to be a lucky move, since I did not think and certainly did not know that Koslovski was a crook. I would stay way for now from TYC, not only because of the negative net book, but because where there is rot on the surface, later on, one finds rot much deeper. Last, you can expect the new management to take any possible write off (as long as it does not impact their ability to roll over "paper") and blame the prior management for that, thus building a cushion for next year's operating results.
Zeev
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