Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] Another Andersen client
Date: Mon, 28 Jan 2002 20:34:20 -0500
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This is a multi-part message in MIME format. - ------=_NextPart_000_0088_01C1A83B.2A405300 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Global Crossing Ltd (GX) just filed for bankruptcy as a preplanned = reorganization in which two of its Asian partners will buy the assets = for $750 million. Closed today at 28 cents, down 23 cents for the day on = NYSE (gotta be embarrassing to NYSE, ENE was the record bankruptcy, GX = is #4, and that's just this month). I am sure it's a coincidence, but = for year 2000 Andersen billed them $2.3 million for audit services, and = nearly $12 million for consulting and other non-audit services. I am = sure that couldn't have biased Andersen in any way, of course. Common and preferred shareholders lose everything, including Management = reported still owning 14%. Then again, there was some insider selling = last May when the stock was still in the mid-teens, as well as some = buying in October when it traded $1-3. Anybody know a place on the net where I can find a list of Andersen's = clients, showing billing by Audit and non-Audit services? I would like = to do some shorting. There seems to be a pattern emerging here. The = Chairman of Andersen says the firm will survive, but I am not sure that = is good news for investors. Tom Worley stkguru@netside.net AIM: TexWorley - ------=_NextPart_000_0088_01C1A83B.2A405300 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 6.00.2712.300" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT face=3DArial>Global Crossing Ltd (GX) just filed for = bankruptcy as=20 a preplanned reorganization in which two of its Asian partners will buy = the=20 assets for $750 million. Closed today at 28 cents, down 23 cents for the = day on=20 NYSE (gotta be embarrassing to NYSE, ENE was the record bankruptcy, GX = is #4,=20 and that's just this month). I am sure it's a coincidence, but for year = 2000=20 Andersen billed them $2.3 million for audit services, and nearly $12 = million for=20 consulting and other non-audit services. I am sure that couldn't have = biased=20 Andersen in any way, of course.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Common and preferred shareholders lose = everything,=20 including Management reported still owning 14%. Then again, there was = some=20 insider selling last May when the stock was still in the mid-teens, as = well as=20 some buying in October when it traded $1-3.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Anybody know a place on the net where I can find = a list of=20 Andersen's clients, showing billing by Audit and non-Audit services? I = would=20 like to do some shorting. There seems to be a pattern emerging here. The = Chairman of Andersen says the firm will survive, but I am not sure that = is good=20 news for investors.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Tom Worley<BR><A=20 href=3D"mailto:stkguru@netside.net">stkguru@netside.net</A><BR>AIM:=20 TexWorley</FONT></DIV></BODY></HTML> - ------=_NextPart_000_0088_01C1A83B.2A405300-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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