The profitable ventures are carried at about $4.8 billion on the balance sheet yet earned about $1.5 billion for corning in 2011. Even considering tepid growth from these joint ventures, they are still carried at an enormous discount to their profitability. Corning has a long-term reputation for innovation and success across a history of glass application, yet the market seems to be writing off their ability to leverage these joint ventures for future use.
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