[49152] in North American Network Operators' Group
RE: How low can Worldcom stock go?
daemon@ATHENA.MIT.EDU (Eric Germann)
Tue Jun 25 22:29:22 2002
Reply-To: <ekgermann@cctec.com>
From: "Eric Germann" <ekgermann@cctec.com>
To: <nanog@merit.edu>
Date: Tue, 25 Jun 2002 22:27:54 -0400
In-Reply-To: <NDBBJJPLIGJGLBKILFIHMEECGIAA.ekgermann@cctec.com>
Errors-To: owner-nanog-outgoing@merit.edu
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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
>
>
> ----
>
> >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
>
> "The fact that there are actually ways of knowing and characterizing the
> extent of one’s ignorance, while still remaining ignorant, may
> ultimately be
> more interesting and useful to people than Yarkovsky"
>
> -- Jon Giorgini of NASA’s Jet Propulsion Laboratory
>
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