Go to Jeff Salisbury LWGate Home Page.From: "Winston Little" <wlittle1@peoplepc.com>
Subject: Re: [CANSLIM] WCOM restatement
Date: Wed, 26 Jun 2002 08:31:31 -0400
Previous Article (by Author): [CANSLIM] CECO/COCO "Winston Little"
Top of Thread: [CANSLIM] WCOM restatement "Tom Worley"
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The gap may now be larger. Trading in WCOM was halted at a share price of $0.09 (down 90% from the closing yesterday, - ----- Original Message ----- From: "Kent Norman" <kent_norman@yahoo.com> To: <canslim@lists.xmission.com> Sent: Wednesday, June 26, 2002 8:20 AM Subject: Re: [CANSLIM] WCOM restatement > This is from Quicken.com, I was surprised by the huge gap between 1st > and 3rd place. > > competitors in the Long Distance Carriers industry. > > Company Name Symbol Mkt Cap (000's) > AT&T CORP T $35,950,127 > WORLDCOM WCOM $2,459,154 > GENERAL COMMUN. GNCMA $441,993 > WORLDCOM-MCI GRP MCIT $215,586 > PRIMUS TELECOM PRTL $37,585 > > Kent > > --- Tom Worley <stkguru@bellsouth.net> wrote: > > employee stock options > > > > reading the news this morning, it's clear the world has concluded > > that > > bankruptcy for Worldcom is going to happen, and soon, with a > > subsequent > > restructuring if it survives. All the banks across the globe must > > have been > > up all night figuring out their exposure. Looks to be wide spread, > > haven't > > seen any one yet with more than $300 million in exposure, with most > > in the > > size of $150 to 200 million. > > > > And MU's surprising loss reported after yesterday's close has futures > > indicating down another 5% today. This is so far past ugly that > > either > > collapse or capitulation cannot be far away. Let's see, DOW at 5,000, > > now > > there's a nice round number. > > > > It's getting too hard to make money in this market, succeeded > > yesterday in > > both real world and VR accounts, but expect to pay the price today. > > > > ----- Original Message ----- > > From: "Cefaloni, John L Jr. [AMSTA-AR-WEA]" > > <john.cefaloni@us.army.mil> > > To: <canslim@lists.xmission.com> > > Sent: Wednesday, June 26, 2002 7:18 AM > > Subject: RE: [CANSLIM] WCOM restatement > > > > > > Well said, Tom. What is it that makes people do things for temporary > > gain > > when they know they'll probably get slammed for it in the future? > > > > I guess it's just greed, stupidity and arrogance. > > > > -----Original Message----- > > From: Tom Worley [mailto:stkguru@bellsouth.net] > > Sent: Wednesday, June 26, 2002 12:53 AM > > To: CANSLIM > > Subject: [CANSLIM] WCOM restatement > > > > > > once again, Andersen strikes again, this time by signing off on > > Worldcom > > hiding over $3 billion in expenses as capital expenditures, and thus > > inflating cash flow. Restatement expected to take away last five > > quarters of > > profits and turn them into losses. > > > > Who gave this sanction to a deviation from GAAP (Generally Accepted > > Accounting Principles)?? Andersen, of course. It's clear that Enron > > was only > > the tip of the iceberg, as if Waste Management, Sunbeam, and a host > > of other > > companies were not sufficient warning of major problems in corporate > > policy > > and infrastructure. Sad to see a great name like Andersen prostituted > > to > > selling its certification services for any price, but also clear that > > it > > must disappear from corporate America. And until every major company > > audited > > by Andersen undergoes a special review by the SEC on accounting > > practices, I > > doubt anyone will believe that we have finally seen it all. > > > > Tom Worley > > stkguru@bellsouth.net > > AIM: TexWorley > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > ===== > Opportunities always look bigger going than coming. > > __________________________________________________ > Do You Yahoo!? > Yahoo! - Official partner of 2002 FIFA World Cup > http://fifaworldcup.yahoo.com > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - - - -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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Top of Thread: [CANSLIM] WCOM restatement "Tom Worley"
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