Re: [CANSLIM] WCOM restatement

From: "Winston Little" <wlittle1@peoplepc.com>
Subject: Re: [CANSLIM] WCOM restatement
Date: Wed, 26 Jun 2002 08:34:27 -0400

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The mantra of the clowns:
"I want it ALL"
"Give it to me NOW"
"It is MINE, I deserve it"

- ----- Original Message ----- 
From: "Kent Norman" <kent_norman@yahoo.com>
To: <canslim@lists.xmission.com>
Sent: Wednesday, June 26, 2002 8:12 AM
Subject: RE: [CANSLIM] WCOM restatement


> The answer is:
> 
> The same childish, short-sighted, immediate satisfaction that blinds
> them to the possibility that there is a tomorrow... They run the
> business like they live their life. All today and no tomorrow.
> 
> Kent Norman
> 
> --- "Cefaloni, John L Jr. [AMSTA-AR-WEA]" <john.cefaloni@us.army.mil>
> wrote:
> > 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
> > 
> > 
> > 
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> 
> =====
> Opportunities always look bigger going than coming.
> 
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