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Can't wait for this one to come back...the shorts are going to get burned BIG TIME!
this board has not been doing much lately. I wonder why? haha
dpb5...thnx but I dumped WCOEQ a couple of weeks ago BEFORE it went from .14 to .24 the second time...geezx. BTW, it was announced last nite that there was an additional 3 bil in accntg fraud & that f\s will have to be restated back to 2000. I think I will apply for my US CPA; those guys get away with murder.
Good luck to you.
Churak, read this post, too...
http://www.investorshub.com/boards/read_msg.asp?message_id=452206
Churak,
You still in WCOM?
Read this...
http://www.investorshub.com/boards/read_msg.asp?message_id=398125
Nice.
http://story.news.yahoo.com/news?tmpl=story&u=/ap/20020627/ap_on_bi_ge/worldcom_64
Arthur Andersen served as WorldCom's accountant during the period in question. The accounting firm, once one of the world's largest, was convicted earlier this month for the destruction of documents related to its work for Enron. Andersen blamed WorldCom for the inaccuracies and said its work was in compliance with SEC standards: "It is of great concern that important information about line costs was withheld from Andersen auditors by the chief financial officer of WorldCom."
But accounting experts disagreed. Bob Bertucelli, director of the tax institute at Long Island University in New York, said there's no way that such an accounting error should have gotten past Andersen's audit.
"The auditor is responsible for everything that goes on, whether it's discussed with the auditing firm or not," Bertucelli said. "It should have been found. It's a clear cut violation of generally accepted accounting principles."
BTW, I guess that pretty definitively answers the question about whether or not that huge MCIT dividend was safe and worth buying.
Good dividends so rarely are. The dividend led me to a very timely and profitable purchase of IKN a while back, but also led to my purchase of a bunch of F that I still have. Shares I bought the day before the dividend was cut in half.
http://biz.yahoo.com/rb/020628/worldcom_letter_1.html
Glad that question of mine finally got answered.
Amidst the righteous indignation and outrage, I hadn't heard whether or not the problem was discovered internally or externally. I'm glad to see the problem was found internally and that the company apparently quickly fired the CFO and made the matter public.
It's still a huge deal that might just take out the company, but I don't feel quite as "violated" now that I know the company apparently did the right thing and immediately let everyone know what it'd found.
I'm left wondering who their auditor was, and haven't found it yet. Guess a visit to edgar.com is in order.
News today
WorldCom Adds Data Storage, Load Balancing And Remote VPN Access to Internet Colocation Portfolio
Managed 'A La Carte' Services Strengthens Customers' Business Continuity,
Server Performance and Web Accessibility On-Demand
CLINTON, Miss., June 12 /PRNewswire-FirstCall/ -- WorldCom (Nasdaq:WCOM), the leading global business data and Internet communications provider, today announced a new menu of value-added "a la carte" hosting services for its Internet colocation customers. Engineered for rapid installation, integration and scalability, WorldCom Data Storage Services(SM), WorldCom Global Server Load Balancing Services(SM), and WorldCom IP VPN Remote Services with Colocation(SM) offer cost-effective managed solutions to companies facing business continuity, Web site performance, and remote/mobile connectivity challenges.
"Every business, like the world around it, is constantly evolving. Solutions that address today's requirements, may not meet tomorrow's needs," said Rebecca Carr, director of WorldCom Global Hosting Services. "This new menu of a la carte hosting services gives our customers the flexibility to acquire the specific capability their business needs, when they want it. Individually or in tandem, each is a powerful, tailored enhancement to their WorldCom hosting solution."
WorldCom Internet Colocation Services(SM) allow companies to focus more of their resources on their core business by offloading their 24/7 data center and network management functions to WorldCom while alleviating the need for additional in-house staff to manage these solutions.
WorldCom Data Storage Services
Providing immediate access to network-based storage and tape backup to safeguard business-critical information, these highly reliable, cost-efficient services can be scaled to address any company's demand for more data storage capacity. WorldCom's enterprise data protection offers a choice of back-end infrastructure services to deliver maximum business data storage and retrieval capabilities.
* WorldCom Storage Area Network (SAN) Services - Provides fully managed
primary storage capacity for database and transaction-oriented
applications.
* WorldCom Network Attached Storage (NAS) Services - Offers managed
primary storage capacity for file serving applications.
* WorldCom Backup and Restore Services - Allows data backup via a back-net
connection from the customer's colocation space to a special storage
cage, ensuring comprehensive data protection.
Offered on a subscription basis, WorldCom's managed data storage services are backed by service level guarantees and are available now to customers served by its Internet data centers in Boston; Chicago; Carteret, NJ; San Jose and Northern Virginia.
WorldCom Global Server Load Balancing Services
These services maximize Web server responsiveness, uptime and dependability by dynamically distributing Internet traffic among multiple Web servers housed in geographically dispersed WorldCom data centers. Continuous network monitoring and management allows traffic to be diverted from an unavailable server to ensure business continuity. Global server load balancing is an ideal enhancement for e-commerce Web sites running mission-critical applications such as shopping carts and database software. Available now in all U.S. Internet Data Centers, these services are priced on a per month basis.
WorldCom IP VPN Remote Services with Colocation
A seamless, integrated means to provide traveling, telecommuting and remotely located employees with reliable, securely encrypted access to applications (from e-mail to Net conferencing), intranets, extranets and the Internet. In addition to offering end-user connectivity from more than 80 countries, these services allow WorldCom hosting customers to expand and diversify their access methods to ensure network availability at all hours, regardless of location -- a vital capability in the event of unexpected circumstances or natural disasters. This fully managed solution is currently available to customers served by any of WorldCom's data centers in the U.S.
"Our research on enterprise purchasing trends indicates that service flexibility and scalability are at the top of most enterprises' selection criteria lists for outsourced solutions," said Carrie Lewis, senior analyst at the Yankee Group. "WorldCom's rollout of scalable managed services -- offered on a flexible, pick and choose a la carte basis -- provides customers the opportunity to tailor their IT needs to meet their specific and changing requirements, and serves as a stepping stone to WorldCom's full offering of managed hosting services."
WorldCom offers a complete suite of outsourced data networking and value-added hosting services through its Internet data centers. These include private line, frame relay, ATM and SONET network solutions, shadow and diverse connectivity handoffs, firewall security services, equipment leasing and installation, on-site technical service and support, Keynote(R) Web performance reporting, and WorldCom Virtual Console(SM) -- the industry's leading online performance management tool. Using the Virtual Console, customers can view and update any monitoring associated with their colocation and storage solutions, open and check the status of service requests, learn about WorldCom policies and procedures, and more.
With the support of its managed Web and application hosting affiliate Digex (Nasdaq:DIGX), WorldCom offers the full array of Web hosting solutions from colocation to shared, dedicated and custom managed hosting. Each runs over WorldCom's facilities-based global network, through WorldCom's state-of-the-art data centers across the U.S., Canada, Europe and Asia Pacific. Web hosting services are part of the full continuum of advanced data communications solutions WorldCom provides to business customers around the world.
ABOUT WORLDCOM, INC.
WorldCom, Inc. (Nasdaq:WCOM, MCIT) is a pre-eminent global communications provider for the digital generation, operating in more than 65 countries. With one of the most expansive, wholly-owned IP networks in the world, WorldCom provides innovative data and Internet services for businesses to communicate in today's market. In April 2002, WorldCom launched The Neighborhood built by MCI -- the industry's first truly any-distance, all-inclusive local and long-distance offering to consumers for one fixed monthly price. Effective as of the close of regular trading on July 12, 2002, WorldCom will eliminate its tracking stock structure and have one class of common stock with the NASDAQ ticker symbol WCOM. For more information, go to http://www.worldcom.com.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X70457663
SOURCE WorldCom, Inc.
CO: WorldCom, Inc.
ST: Mississippi
SU: PDT
http://www.prnewswire.com
06/12/2002 07:01 EDT
well try 13 bucks now. eom
What is the deal with Sprint PCS?
How is that ratio working as far as PCS owners? And doesn't Sprint have some other SpinOffs?
I own some PCS, so that's why I am asking...
I know my mom owns some WCOM, but she bought way too high recently...
Thanks,
FM
MCI WORLDCOM (NASDAQ:WCOM) closed at around 41 1/4 on Tuesday. Up almost $1.00.
Shares of Sprint were up 1/2 at 57-1/2. Good analysist ratings posted on Sprint's earnings.
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