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RE: How low can Worldcom stock go?
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: 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: > > http://online.wsj.com/article/0,,SB1025044139757626480,00.html > > > > > ========================================================================== > 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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