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: owner-nanog@merit.edu [mailto:owner-nanog@merit.edu]On Behalf Of Eric Germann Sent: Tuesday, June 25, 2002 10:28 PM To: nanog@merit.edu 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: owner-nanog@merit.edu [mailto:owner-nanog@merit.edu]On Behalf Of Eric Germann Sent: Tuesday, June 25, 2002 7:03 PM To: nanog@merit.edu 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
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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 Germann CCTec ekgermann@cctec.com Van Wert OH 45801 http://www.cctec.com Ph: 419 968 2640 Fax: 603 825 5893
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