I am thinking that there could be a substantial goodwill/intangible write-off in Q4. The earnings power of their purchased assets now seems well below what they were when they purchased them. These items are usually reviewed annually, so Q4 is usually when these adjustments are made. I have not spoken with management --- this is just my best guess on the subject given my experience with other companies in similar situations.

I am not saying to panic or sell stock (I don't know where the stock goes from here), but I think the headline earnings number could be ugly for Q4 and that the book value could be marked down.

Anyone else have thoughts on this?