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RE: How low can Worldcom stock go?
- From: Eric Germann
- Date: Tue Jun 25 22:30:49 2002
- Sensitivity: Company-Confidential
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
-- 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: email@example.com [mailto:firstname.lastname@example.org]On Behalf Of
> Eric Germann
> Sent: Tuesday, June 25, 2002 7:03 PM
> To: email@example.com
> 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:
> Eric Germann CCTec
> firstname.lastname@example.org 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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