RE: How low can Worldcom stock go?
Prediction: Bankruptcy filing to lose the restated 5 quarters, followed by emergence and prosperity. sarcasm After all, isn't the saving of fraudulent transactions made by suffering telecoms the whole prupose of today's bankruptcy courts? /sarcasm Operationally, I believe the biggest impact will be indirect: losing 17K+ bodies will not make WC an easy giant to work with :-( On Wed, 26 Jun 2002, Deepak Jain wrote: The upside, and the operational piece is that judging by all the insolvencies upto now have done little to effect existing services that are in place. Deepak Jain AiNET -Original Message- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf Of Eric Germann Sent: Tuesday, June 25, 2002 10:28 PM To: [EMAIL PROTECTED] Subject: RE: How low can Worldcom stock go? Sensitivity: Confidential Accoriding to Reuters: -- WorldCom sees $2 billion a year in cash savings. -- WorldCom will lay off 17,000 workers starting Friday, which will save about $900 million annually. -- WorldCom will sell off non-core businesses, including South American assets, and its wireless resale business, which will save $700 million annually; -- WorldCom will save about $375 million annually by paying some preferred dividends in common stock, not cash, deferring some dividends, and discontinuing the dividend on the its MCI tracking stock. -- WorldCom will also cut capital expenditures in 2002 and forecasts 2003 capital investment at $2.1 billion. The usual stock sites have the releases. Ironically, Anderson stated tonight their work complied with accounting standards. Wonder where the 17,000 souls are going to come from? -Original Message- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf Of Eric Germann Sent: Tuesday, June 25, 2002 7:03 PM To: [EMAIL PROTECTED] Subject: How low can Worldcom stock go? Sensitivity: Confidential Any bets where they will bottom out at? Lets see if they can beat Adelphia at $0.05 on 6/21/02 From WSJ Tech alerts. WORLDCOM UNCOVERED what appears to be one of the largest corporate frauds in history with the discovery of more than $3 billion in expenses that were improperly booked as capital expenditures. For more information, see: http://online.wsj.com/article/0,,SB1025044139757626480,00.html == Eric GermannCCTec [EMAIL PROTECTED] Van Wert OH 45801 http://www.cctec.comPh: 419 968 2640 Fax: 603 825 5893 The fact that there are actually ways of knowing and characterizing the extent of ones ignorance, while still remaining ignorant, may ultimately be more interesting and useful to people than Yarkovsky -- Jon Giorgini of NASAs Jet Propulsion Laboratory
Re: How low can Worldcom stock go?
Heh, just today, I received a bill from WorldCom for $75,097.30, for nothing in particular, that I can discern, which they claim to have been the unpaid accumulation of some monthly service from May, 1999 through the present. Um, yeah, right. :-) We have a similiar one, which as close that we can tell is seperate billing for colo also charged and paid as part of another invoice. It adds up to 30k+ and goes back 3 years.
Re: How low can Worldcom stock go?
And Just think, The perpetrator of this fraud was the guiding light for the American Internet fair peering practices policy. Imagine that. Now, someone explain how an internet provider convinced congress that it didn't really have to carry an -internet customers- packet from one side of its -=own=- network to the other side, unless -=both=- parties paid it money ? With the recent rash of chapter 11's and 13's perhaps we should be re-examining the peering practices in America... It appears this Ebbers Ethics thing isn't working. My .02c LURK LURK LURK - don't -=even=- ignore the markup Marc Pierrat wrote: Unfortunately this event will not only affect Worldcom, but the entire industry in a significant way. This is, afterall, one of the largest reported cases of fraud in US history. MP -Original Message- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf Of Deepak Jain Sent: Tuesday, June 25, 2002 8:02 PM To: blitz; [EMAIL PROTECTED] Cc: [EMAIL PROTECTED] Subject: RE: How low can Worldcom stock go? I am pretty sure a 5 quarter restatement will reduce its chances of future respectability. DJ -Original Message- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf Of blitz Sent: Tuesday, June 25, 2002 7:40 PM To: [EMAIL PROTECTED] Cc: [EMAIL PROTECTED] Subject: Re: How low can Worldcom stock go? Worldcom stands a chance of making money in the future, Adelphia has absolutely NO chance of ever regaining any sort of respectability. After all Wcom owns UUnet...they own the fat pipes.. Adelphia cries when it has to purchase a few T3's cause their cablemodem system is clogged... At 19:03 6/25/02 -0400, you wrote: Any bets where they will bottom out at? Lets see if they can beat Adelphia at $0.05 on 6/21/02 From WSJ Tech alerts. WORLDCOM UNCOVERED what appears to be one of the largest corporate frauds in history with the discovery of more than $3 billion in expenses that were improperly booked as capital expenditures. For more information, see: http://online.wsj.com/article/0,,SB1025044139757626480,00.html = = Eric GermannCCTec [EMAIL PROTECTED] Van Wert OH 45801 http://www.cctec.comPh: 419 968 2640 Fax: 603 825 5893 The fact that there are actually ways of knowing and characterizing the extent of one's ignorance, while still remaining ignorant, may ultimately be more interesting and useful to people than Yarkovsky -- Jon Giorgini of NASA's Jet Propulsion Laboratory
RE: How low can Worldcom stock go?
Instead, you have increased depeering as everyone tries to squeeze [non-existant] money out of everybody else. some of the motivation is large players very consciously trying to squeeze out smaller or competitive players in the chaos of all the other noise. randy
RE: How low can Worldcom stock go?
This is at least the second purge of that many bodies, maybe third...they just let 20k go a month or so ago.. These business practices will continue, as long as the benefits of doing things this way outweigh the punishment for doing them. Ask Bill Gates...for example. I'd venture a guess: In all these disclosures we've seen lately, Wcom, Global Crossing, Adelphia, Enron, ad nausium...NO ONE will go to jail...the taxpayer/stockholders will ultimately swallow it all. Haven't we gone down this road before? Remember Junk bonds and Milikin (sp)? Savings and loan scandal? Greed is good..right... who paid the bills for those debacles? You and I. IF you got a job, be thankful.. this isn't over yet. The only stocks I'd buy right now, are in shredder manufacturers Prediction: Bankruptcy filing to lose the restated 5 quarters, followed by emergence and prosperity. sarcasm After all, isn't the saving of fraudulent transactions made by suffering telecoms the whole prupose of today's bankruptcy courts? /sarcasm Operationally, I believe the biggest impact will be indirect: losing 17K+ bodies will not make WC an easy giant to work with :-(
Re: How low can Worldcom stock go?
b == blitz [EMAIL PROTECTED] writes: b This is at least the second purge of that many bodies, maybe third...they b just let 20k go a month or so ago.. Um When? Where? This will be the largest layoff so far. Ash Wednesday was much smaller than this. ericb -- Eric Brandwine | There is no memory with less satisfaction in it than the UUNetwork Security | memory of some temptaion we resisted. [EMAIL PROTECTED] | +1 703 886 6038| - James Branch Cabell Key fingerprint = 3A39 2C2F D5A0 FC7C 5F60 4118 A84A BD5D 59D7 4E3E
Re: How low can Worldcom stock go?
At 7:28 PM -0400 6/25/02, [EMAIL PROTECTED] wrote: Remember, this is just the beginning. Do you remember you WCOM bills for services that you had canceled years ago? That will come out as well... They managed to over bill us $36,000 for T1's we cancelled over three years ago. After *months* of wrangling with them, they finally admitted they fsck'd up and said they would credit the entire amount plus the finance charges. Our credit? $12,000. Now they've just dumped a $120,000 bill on us for T3 service we zapped. Gr Regards, Chris Kilbourn Founder _ digital.forest Int'l: +1-425-483-0483 where Internet solutions grow http://www.forest.net
Re: How low can Worldcom stock go?
Vivien: Don't get me started on what CW did to the Exodus backbone. OK, I won't EVEN get started on what CW did to Digital Island... :( :( :( (five years of heart-n-soul gone) blitz: IF you got a job, be thankful.. this isn't over yet. randy: some of the motivation is large players very consciously trying randy: to squeeze out smaller or competitive players in the chaos of randy: all the other noise. BU yes, yes, YES!!! /U/B dammit... scott ps. That's not html email. I use pine.
Re: How low can Worldcom stock go?
Yeah OK... I am going to break an NDA and disclose ( Drum roll please.) The -=Secret=- Formula for There can only be ONE! [Label A:] Pull back peering from adjacent competitors Thus Forcing smaller competitors into Financial Difficulty (Due to lack of peering, and an ever increasing Monkey...) Then, acquire them at Bankruptcy for Pennies on a Dollar (Ka-CHING!) After acquisition, Pull back all -=their=- peering Thus closing the loop.. If (Competitors != NULL) goto [Label A:]; And finally, in the end, declare Bankruptcy yourself. Great Strategy! ... What! :O It worked for THEM! :P Scott Weeks wrote: Vivien: Don't get me started on what CW did to the Exodus backbone. OK, I won't EVEN get started on what CW did to Digital Island... :( :( :( (five years of heart-n-soul gone) blitz: IF you got a job, be thankful.. this isn't over yet. randy: some of the motivation is large players very consciously trying randy: to squeeze out smaller or competitive players in the chaos of randy: all the other noise. BU yes, yes, YES!!! /U/B dammit... scott ps. That's not html email. I use pine.
Re: How low can Worldcom stock go?
goto [Label A:]; ROFL! it's 1968!
