Question:
Apparenty there was indication that things were not right at Worldcom. Seems many people in recent weeks received billls for upwards of $2,000 for sevice that was never used. This was featured on one of the local TV stations recently. Sign in a golf pro shop: "Hail size Golf Balls sold here." —–= Posted via Newsfeeds.Com, Uncensored Usenet News =—– http://www.newsfeeds.com – The #1 Newsgroup Service in the World! —–== Over 80,000 Newsgroups – 16 Different Servers! =—–
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I’m watching CNBC and all these thousands of shares of Worldcom being sold….which brings up the question…. with everyone and his brother selling who is buying?
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I’m watching CNBC and all these thousands of shares of Worldcom being sold….which brings up the question…. with everyone and his brother selling who is buying?
Uncle Sam? A. Lucien Meyers, CIA, CMA — If you receive this by error, please delete it and inform the sender. PGP Key fingerprint=F1C0 D9AE 1B18 1405 4DFA B4CC 6DC7 FF78 C76E FB15 To Big Brother Echelon from "spook": DES Qaddafi BATF obfuscation Ft. Bragg Kennedy counter-intelligence Iran
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What usually happens is that when a company goes into the sewer, some people start very carefully analyzing the, soon to be, corpse’s liquidation value. If there is enough in there, they buy the stock and get the return on the liquidating dividend. AIR, the old Rolls Royce dropped down to around a dime a share at its nadir. I think the liquidation pay out was around a $1.10 a share. It is bottom fishing at its riskiest. I’m watching CNBC and all these thousands of shares of Worldcom being sold….which brings up the question…. with everyone and his brother selling who is buying?
– * Ronald Lee Todd M.B.A., C.P.A. * * Unemployed for six years, mistake of being an accountant. * * Students, when someone tells you of your great future as * * an accountant, ask him to show you the job. *
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I’m watching CNBC and all these thousands of shares of Worldcom being sold….which brings up the question…. with everyone and his brother selling who is buying?
People covering their shorts. — Todd Stephens
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snip People covering their shorts.
so to speak…
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snip People covering their shorts. so to speak…
There is something vaguely disgusting that only insiders can ever really understand a company as vast as Worldcom. Insiders who are also very hard working dedicating their entire waking existsnce to analyzing Worldcom. There is something equally disgusting about all the worlds’ stock market investors who thinks somehow, all of that nuanced informaiton and knowledge of the relationships and drivers that actually determine the company’s business success/or failure can somehow be digested into a "Cliff’s Notes" like quarterly financial statements. Or that banning "Insider Trading" can ever really level the playing field. Todd http://www.gldialtone.com/FinancialDeregulation.htm
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I see where Worldcome wants to change their name to MCI. IMHO this should be illegal. Either leave the name as Worldcom or when using the MCI name they should have in huge letters "formerly Worldcom." This is outright fraud no matter how you slice it. Are these corporations having a contest to see who can be the sleazeist?
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- Hide quoted text — Show quoted text – I see where Worldcome wants to change their name to MCI. IMHO this should be illegal. Either leave the name as Worldcom or when using the MCI name they should have in huge letters "formerly Worldcom." This is outright fraud no matter how you slice it. Are these corporations having a contest to see who can be the sleazeist?
actually, it used to be MCI (for the most part)
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Interesting! Here it is known as MCI/Worldcom ever since MCI bought out or merged with Worldcom. But I thought they were defunct? They closed down operations here. TTUL Gary
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I see where Worldcome wants to change their name to MCI. IMHO this should be illegal. Either leave the name as Worldcom or when using the MCI name they should have in huge letters "formerly Worldcom." This is outright fraud no matter how you slice it.
Where were you and your allegations of fraud when MCI changed its name to WorldCom?
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I saw a news report today which showed the chief financial officer and controller of Worldcom being taken out and into custody. They report said they were guilty of converting debit balances on the income statement to credit balances on the Balance sheet. I am confused and what am I missing? To remove a debit item on the income statement would require crediting the income statement account and debiting another account to reclassify the $ amount. It is still a debit So how does all this lead to a credit balance? Thanks PL
Response:
I saw a news report today which showed the chief financial officer and controller of Worldcom being taken out and into custody. They report said they were guilty of converting debit balances on the income statement to credit balances on the Balance sheet. I am confused and what am I missing? To remove a debit item on the income statement would require crediting the income statement account and debiting another account to reclassify the $ amount. It is still a debit So how does all this lead to a credit balance?
It’s probably that the people doing the reporting are illiterate in accounting. What was happening was that items that should have been "debits" on the income statement were instead being treated as _assets_, and thus as debits on the balance sheet. They probably took something that was written for them, and, without the benefit of actually having a first-year university education in accounting, rewrote it the way they thought they’d want to report it. — http://cbbrowne.com/info/advocacy.html Linux is like a Vorlon. It is incredibly powerful, gives terse, cryptic answers and has a lot of things going on in the background.
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I saw a news report today which showed the chief financial officer and controller of Worldcom being taken out and into custody. They report said they were guilty of converting debit balances on the income statement to credit balances on the Balance sheet. It’s probably that the people doing the reporting are illiterate in accounting.
Maybe they are but I doubt the reports or the reporters made a flat statement that the CFO and controller were guilty. Regards, Bill