American Water Works Springs a Leak

May 15, 2008

American Water Works Company, Inc. (AWK) reported for the quarter, which
includes a nonrecurring, non cash impairment charge, a net loss of
$732.5 million, or $4.58 per share. That’s quite the initial first
quarter for a company that went public and started trading on the NYSE
on April 23! The impairment charge was some $750 million to kick things
off.

The press release included this paragraph on the impairment charge:

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