I OWN Worldcom, the nations second largest carrier

You see that incredible 2 MILLION DOLLARS worth WCOM of stock that changed hands overnight?


Yeah, part of that was me.


I had enough moeny buying S&P futures at Monday's low, and selling short at Tuesday's high...


I figured I'd plough the profits into one of America's most popular name brands.


eLROY

Now all I have to do is get Bernie Ebber's address.


I think he owes me, like, $400 million, right?


I think I'll go knock on his door, and see if we can't makes some sort of arrangement.


eLROY

Sure you didn't buy it just to sell the stock certificates on EBay like they do with Enron? [img]/images/smile.gif[/img]

Well there you have it. I make a post agreeing with you about how CEOs are the shareholders friend and then we go ahead and get a guy like Bernie Ebbers. I am still trying to figure what Scott Sullivan has been thinking for the past year and a half. Also kind of strange that Sullivan wasn't given the boot at the same time as Ebbers. According the WSJ they basically built Worldcom together.


In any event I think Worldcom is a great buy at $.83/share providing its creditors can not force the company into bankruptcy. I don't know how they defined "Events of Default" in their most recent bank line of credit. This is a situation where the devil is in the details. I'm not sure if the information is publicy available but it might be worth looking into.


Providing that the company is not forced into bankrupty, this accounting scandal really doesn't adversely affect the company's operations. It's not like they were recognizing revenue that wasn't there or artificially inflating the A/R. Think of it more as an accelerated depreciation of assets. [img]/images/smile.gif[/img]