.....a reduction in the book value of an asset, as because of depreciation or a decline in market valueIntangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured, which are created through time and/or effort and that are identifiable as a separate asset. Human capital is the primary source of competitive intangibles for organizations today. Competitive intangibles are the source from which competitive advantage flows, or is destroyed. The area of finance that deals with intangible assets is known as Intangible Asset Finance.Friday, April 3, 2009 Greektown Casino has lost $142M since May.
Detroit --Greektown Casino-Hotel has lost $142.46 million since it filed for bankruptcy last May, according to documents filed this week with the Eastern District of Michigan bankruptcy court. Much of the loss -- $128.24 million -- was due to a write down of intangible assets. The city's three casinos typically keep mum on their financials, reporting publicly only revenue and the amount of taxes paid as required through the Michigan Gaming Control Board, the state's casino regulatory agency. But since Greektown entered Chapter 11 protections last year, it must disclose more details.
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Tom Biron
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