Professor Elam

Whoops the Cerebus HR Block deal is off.   Gee how the mortgage business has changed in a few months.  No way to structuer the deal to make it work, so  HRB will be taking a restructuring charge and an impairment loss.  HRB thought they could unload their mortgage business on private equity, but the market meltdown overcame that idea.  Check out the stock price on HRB and see what happened.  We study accounting to understand what those terms mean.  Hmm, this would be a great final exam question ……