Sims Metal Management Ltd takes a $664 million Charge

Feb 9 2012 – SGM stock drops 12% – see news article summary below

Sims Metal Drops Most Since 2009 on Write-Off: Sydney Mover

Bloomberg - Sims Metal Management Ltd. (SGM) fell the most in more than three years in Sydney trading after the world’s biggest recycler of scrap metal said it will 

Sims Metal takes $614m impairment charge? Sydney Morning Herald
Metal giant’s shares plunge on writedown announcement? Materials Recycling Week
Sims Metal in $614m writedown of North America business? The Australian