WorldCom Restates Results and Settles Case

Emboldened Chimp

(1000+ posts) Send PM | Profile | Ignore

Fri Mar-12-04 03:54 PM
Original message

WorldCom Restates Results and Settles Case

By KENNETH N. GILPIN

Published: March 12, 2004

WorldCom, which is seeking to emerge from bankruptcy protection by the end of next month, took two large steps toward realizing that goal today.

The company, to be known as MCI after emerging from federal bankruptcy protection later this year, restated its financial results from 2000 through 2002. It also settled felony charges, filed by the Oklahoma attorney general, without having to plead guilty to any crimes.

The amended figures show that after correcting errors in accounting and writing down the value of assets, the company had a net loss of $73.7 billion for the period

http://www.nytimes.com/2004/03/12/business/12CND-PHON.html?hp

:puke:

Printer Friendly | Permalink | | Top

MaineDem

(1000+ posts) Send PM | Profile | Ignore

Fri Mar-12-04 03:56 PM
Response to Original message

1. Why does not having to plead quilty to felony charges irritate me?

Is someone going to be charged with this?

Printer Friendly | Permalink | | Top

papau

(1000+ posts) Send PM | Profile | Ignore

Fri Mar-12-04 04:07 PM
Response to Original message

2. Let's see -steal $74 billion and no trial yet, but Martha trades on a tip

Oh I forgot

Martha sent a $1000 check to Hillary's Campaign

And our friends at World com are friends of the GOP.

Doesn't everyone make $74 billion dollar errors in their accounting books over a 2 year period?

Printer Friendly | Permalink | | Top

Voltaire99

(1000+ posts) Send PM | Profile | Ignore

Fri Mar-12-04 04:31 PM
Response to Original message

3. Letting corporate crimes slide is good for business!

Just look at how we're all rolling in jobs and money.

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Fri May 03rd 2024, 10:28 AM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.