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And, one reason housing prices are high is that apartments were seen as one of the most secure investments. Many investors also speculated on high-return wealth management products, without fully understanding the risks involved.

And DeLaval, the Swedish firm that leads the world's milking equipment and solutions business, is well set to help them attain their goals, said Sha Yunfei, 47, director of DeLaval's operations in China and South Korea.

Anhui Province has activated the highest-level emergency response for flood control due to the grim situation.

Analysts also noted that behind the wave of goodwill impairment could be earnings management behavior. That is, the companies use accounting techniques to "modify" financial reports.

Andrew Zimmern, host of Travel Channel's Bizarre Foods, thinks he's misunderstood.