'Goodwill' is supposed to represent the increased value of a business arising from its brands, reputation etc etc over & above what it is actually worth and is supposed to justify the higher price that you paid. The Financial Times reports that Europe's 600 biggest companies wrote off 76bn Euros of goodwill last year. Over the last four years* these companies spent 1.6tn Euros and wrote off 219bn. This represents massive overpayment for duff acquisitions. It's probably worse than this because it takes time for the error to emerge. But these guys still reckon they are worth their massive remuneration packages ! Why bother training to do anything useful like surgery or engineering or whatever where an error can result in losing your job or even prison.
*calculation by Houlihan Lokey