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World's Largest Miner Books Massive $7.2 Billion Writedown On US Shale "Assets"

By: capt_nemo in POPE IV | Recommend this post (1)
Fri, 15 Jan 16 11:26 PM | 84 view(s)
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Submitted by Tyler Durden on 01/15/2016 - 09:52

â€œYeah well, considering youâ€™ve got a book value of $20 billion and you havenâ€™t reported an operating EBIT gain in the last two years, I think theyâ€™ve been lucky to get away with such a modest amount. I think theyâ€™ll be having the same discussions with their auditors in July."

http://www.zerohedge.com/news/2016-01-15/worlds-largest-miner-books-massive-72-billion-writedown-us-shale-assets

Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.

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