BS: Enron, Worldcom... Next!...

Subject: Enron, Worldcom... Next!...
From: Bobert
Date: 26 Jun 02 - 10:10 PM

Here we go again. Now it's Worldcom. Same game except they didn't have a couple of months to shred evidence. Or did they? Hmmmmmmmm? Who's next? And next? Man, didn't take Junior long to let his greedy buddies hang themselves in greed. Who pays?

Subject: RE: BS: Enron, Worldcom... Next!...
From: GUEST
Date: 26 Jun 02 - 10:16 PM

You do Bobert... and so do the rest of the ordinary people who're going to have to bail out the big money making operators again......

Subject: RE: BS: Enron, Worldcom... Next!...
From: Socorro
Date: 26 Jun 02 - 10:24 PM

I just heard on Jim Lehrer's news program on Public TV that 1/3 of the world's internet traffic goes through WorldCom's lines!! They predicted a real decline in internet service, very soon.

Subject: RE: BS: Enron, Worldcom... Next!...
From: katlaughing
Date: 27 Jun 02 - 12:02 AM

And they had the same accounting service: Arthur Anderson....

Subject: RE: BS: Enron, Worldcom... Next!...
From: gnu
Date: 27 Jun 02 - 06:06 AM

Or is it a big scam to allow other internet builders to get in on the bucks and/or for the whole lot to raise prices ? Right now I pay $20/mo (Cdn) unlimited access. I have not upgraded to a high speed service, but it's still fast enough for me. Are increased prices ahead ?

I think those responsible should face the penalty of life imprisonment. They ruined the lives of many people and they may have even brought on early death for some who lost their life savings.

Subject: RE: BS: Enron, Worldcom... Next!...
From: Sandra in Sydney
Date: 27 Jun 02 - 09:08 AM

I pay $AUD30 per month to their wholly owned Australian subsidiary OzEmail. Our news services have been expressing concern about OzeMail. We can only wait & see. I wonder how many other companies they own around the world.

sandra

Subject: RE: BS: Enron, Worldcom... Next!...
From: Hrothgar
Date: 28 Jun 02 - 04:41 AM

Somebody should find out which accounting school is producing these turkeys and close it down before it does real damage.

Remember, a billion here, a billion there - and soon it starts to add up to real money!

Subject: RE: BS: Enron, Worldcom... Next!...
From: pavane
Date: 28 Jun 02 - 04:46 AM

It's the school where they say that top executives deserve share options for their work. (I.e. all of them) So the objective is to push up the share price, cash in your options and get out, leaving someone else to hold the baby....

Subject: RE: BS: Enron, Worldcom... Next!...
From: greg stephens
Date: 28 Jun 02 - 04:49 AM

As long as people remember that investing in capitalism is gambling, pure and simple. Some horses win, most lose. Tht's the rules And you get some pretty shady characters involved.

Subject: RE: BS: Enron, Worldcom... Next!...
From: Guessed
Date: 28 Jun 02 - 08:46 AM

If you want to know how many more of these there will be - just look at Arthur Andewrson's client list

and divide by 10!!!!

You put money in a bank and get interest and capital is safe, put money in a company and get more interest and capital is not safe. Where does the real value of inflated capital come from? It is borrowing value from the future.
I'm getting mental images of cantilevers and Millenia Bridges. Wobble, wobble.

Subject: RE: BS: Enron, Worldcom... Next!...
From: The Walrus at work
Date: 28 Jun 02 - 01:04 PM

Just picked up from the radio. After Enron & Worldcom, it appears there are rumours about Xerox having some dodgy figures ($2-6 bn US "misrepresented" - no two reports seem to agree)I can't help wondering if THEIR accountants are part of the Anderson group too.

There was a note in one of the newspapers that Worldcom could make 17000 people unemployed as a result of this affair - might I suggest sacking the TOP 17000 in the company?

Walrus

Subject: RE: BS: Enron, Worldcom... Next!...
From: DonD
Date: 28 Jun 02 - 01:46 PM

And shall all younger Americans now rush to divert their Social Security contributions into private investment programs run by those Wall Street saints who recommended Enron and the other stocks while holding their noses?

Subject: RE: BS: Enron, Worldcom... Next!...
From: pattyClink
Date: 28 Jun 02 - 03:30 PM

Chill out, everybody. The layoffs were planned prior to the fraud coming out. They're not good but not a result of the fraud. Nobody's going to lose service. There's a lot of extra telcom capacity in the US, so the slack would get picked up IF Wcom had to shut anything down. However, the good thing is, Worldcom may be considered 'too big to fail' by the US govt which runs a lot of key stuff over their backbones. As far as the bondholders etc., well, it's worth much more as a going concern than as a carcass. So, it may very well rock along fine. Unless the media eejits convince everyone the sky is falling which seems to be their goal.

That said, the greedy bastards running most corporations do need to have their gravy train stopped, and the crooked ones need to go to jail.