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Xerox Reports $400-Million Writeoff: Xerox Corp. said...

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Xerox Reports $400-Million Writeoff: Xerox Corp. said it will take a pretax writeoff of nearly $400 million in the first quarter because of its investment in VMS Realty Partners. The financial-services and office-products giant holds a 25% stake in the troubled Chicago-based real estate company. Stamford, Conn.-based Xerox said the writeoff includes its equity investment and all loans to VMS Realty, other than those that are secured and collateralized.

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