Quoting: BCAPP
Holl may have negative value but Kerfoot shouldn't. He's a 50 pt w/c who can pk well, and has a cap hit of 3.5 and is paid 0.75m
He's no massive value but even in this cap environment he isn't negative.
You're absolutely right -- or at least, I agree with you -- that Kerfoot doesn't have negative value. But the issue isn't what you can trade Kerfoot FOR, it's whether you can trade him AT ALL.
You've listed some of the attributes that give Kerfoot intrinsic value IN ISOLATION. But context is everything. Who's going to ask for him?
None of last year's 17 contenders (including near-misses Las Vegas and Islanders) not named Toronto don't have the cap space for him. That leaves 14 possible landing spots. It's highly likely that Kerfoot doesn't want to go to a bottom feeder, and it was pretty apparent even at the beginning of the summer (when Kerfoot had to submit his ten-team no-trade list) that at least 9 of those 14 teams are no-hopers: Anaheim, Arizona, Buffalo, Chicago, Detroit, Montreal, Ottawa, Philadelphia and Seattle. It therefore seems highly probable that those teams are on his no-go list. So we have 5 teams left: Columbus, New Jersey, San Jose, Vancouver and Winnipeg. Even if the tenth team on Kerfoot's list is one of the four that doesn't have cap space, that doesn't leave much leeway.
You won't be getting many offers for him, which seriously reduces his value.