report out!, page-24

In reply to someone else's statement, HFA didn't "choose" to write down its goodwill/intangible assets. Every year reporting companies are required to test goodwill and intangibles (with indefinite lives) for impairment. I'm quite confident HFA would have preferred to avoid testing for impairment in this current market condition.

Once goodwill is written off/impaired, you are never able to increase it again. You cannot recognize internally generated goodwill. That money/balance, my friends, is gone!

The "clean slate" isn't applicable in my opinion, hence why management didn't use a similar statement in their director's report.