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Thread: WorldCom Fraud?

  1. #1

    WorldCom Fraud?

    Interesting: http://www.msnbc.com/news/772330.asp

    It is unclear what impact this will have on WorldCom’s negotiations to obtain new financing. But it seems sure to make it very difficult for the firm to raise any new money and could very likely result in WorldCom being forced to file for bankruptcy.
    Marc Wyss - [email protected]
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  2. #2
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    I think this will definitely have an impact on them raising any future funding. Very interesting that, Marc. Thanks for the link
    Chris Adams - CEO - Rochen Ltd. - chris (at) rochen (dot) com

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  3. #3
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    Lets just hope they dont close down.....that would screw alot of people


    Jim
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  4. #4
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    No doubt cases like this are making it harder for most businesses to get funding. Only the strong may survive. Generally a good thing, I guess.
    “Even those who arrange and design shrubberies are under
    considerable economic stress at this period in history.”
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  5. #5
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    I used to track them when they were nasdaq traded [are they still listed on the nasdaq??] They were a real dog, but you could always catch the "dead cat bounce" when they dropped 20%+ in 1 day etc.
    AussieHost.com Aussie Bob, host since 2001
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  6. #6
    We are witnessing the fall of America Nah, in all honesty I think many large firms are scrambling for money because of the slight recession. Plus thanks to the new media we have, a day won't go by that we won't hear anything concerning some large corporation and their financial woes.
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    Santiago Yajan Cruz
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  7. #7
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    Many of them were run in what you and I would call a crooked manner -- complicity all over the place. I don't think the issue is solely because the media are reporting it, its root cause is those who abused the system in the first place.

    Oddly enough, my big revenue generating site is a financial information site but I am and always have been quite cynical on the entire market system. Too many conflicts of interest to make it fair and open, despite what we like to believe.

    Insiders basically get to lay off risk on the heretofore largely unsuspecting public.

    Luckily for insiders (company insiders, merchant banks, analysts etc), the public will one day forget the pain they suffered and this whole cycle will repeat again.

    Might be a while yet though...
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  8. #8
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    Scrambling because of a slight recession and things like...
    Drawing scrutiny and investor displeasure were the $408 million in loans WorldCom gave to former chief executive Bernie Ebbers, who resigned in April.
    There were some outrageous Enron reports as well. Basically, a few taking as much as they can grab and that isn't good for the majority. If they cared, they wouldn't have done it in the first place, but it is just sad to see such recklessness.
    HostHideout.com - Where professionals discuss web hosting.

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  9. #9
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    Originally posted by JamRover
    We are witnessing the fall of America Nah, in all honesty I think many large firms are scrambling for money because of the slight recession. Plus thanks to the new media we have, a day won't go by that we won't hear anything concerning some large corporation and their financial woes.
    You 100% right. We are witnessing the fall of America. First it starts with one company, then two, three,four,.... Then you see companies moving to another countries like India. First one company moves, then another, another, ....

    It's sad, it really is.
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  10. #10
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    This one posted first, by an hour: http://www.webhostingtalk.com/showth...threadid=57130
    HostHideout.com - Where professionals discuss web hosting.

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