[49169] in North American Network Operators' Group
RE: How low can Worldcom stock go?
daemon@ATHENA.MIT.EDU (measl@mfn.org)
Wed Jun 26 05:20:06 2002
Date: Wed, 26 Jun 2002 04:18:43 -0500 (CDT)
From: <measl@mfn.org>
To: Deepak Jain <deepak@ai.net>
Cc: ekgermann@cctec.com, nanog@merit.edu
In-Reply-To: <GPEOJKGHAMKFIOMAGMDIGEKBMIAA.deepak@ai.net>
Errors-To: owner-nanog-outgoing@merit.edu
Prediction:
=09Bankruptcy 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>
=09Operationally, 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 a=
re
> in place.
>=20
> Deepak Jain
> AiNET
>=20
> -----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
>=20
>=20
> Accoriding to Reuters:
>=20
> -- WorldCom sees $2 billion a year in cash savings.
>=20
> -- WorldCom will lay off 17,000 workers starting Friday, which will save
> about $900 million annually.
>=20
> -- WorldCom will sell off non-core businesses, including South American
> assets, and its wireless resale business, which will save $700 million
> annually;
>=20
> -- WorldCom will save about $375 million annually by paying some preferre=
d
> dividends in common stock, not cash, deferring some dividends, and
> discontinuing the dividend on the its MCI tracking stock.
>=20
> -- WorldCom will also cut capital expenditures in 2002 and forecasts 2003
> capital investment at $2.1 billion.
>=20
> The usual stock sites have the releases. Ironically, Anderson stated
> tonight their work complied with accounting standards.
>=20
> Wonder where the 17,000 souls are going to come from?
>=20
>=20
> > -----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 wer=
e
> > improperly booked as capital expenditures.
> >
> > For more information, see:
> >
> > http://online.wsj.com/article/0,,SB1025044139757626480,00.html
> >
> >
> >
> >
> > =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D
> > 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 th=
e
> > extent of one=92s ignorance, while still remaining ignorant, may
> > ultimately be
> > more interesting and useful to people than Yarkovsky"
> >
> > -- Jon Giorgini of NASA=92s Jet Propulsion Laboratory
> >
>=20
>=20
