GXL taking a big hit Down over 11%, page-130

Goodwill is ok for the moment, it's not 'huge' but it's still quite large. Fortunately the industry is growing, it's consolidating and it hasn't yet reached maturity. I'm fine with the goodwill provided it stops growing from here.

Companies write down goodwill when they've passed maturity and the industry faces threats and weak future growth (mining, television, newspapers etc.). Currently pets and vets are one of the strongest industries and are growing at a good sustainable pace. It's not a new industry, but it's in a sweet spot at the moment, and I can't see it slowing down until cuddly robots come along - even then I still think traditional pets will win.

Humans have domesticated animals since civilization began - it's not going to stop anytime soon.