The Day Corporations Die
 Yesterday was an important day. Today we get to watch the fall out. It may not be as big as it could be, but it could turn a trickle into a flood. Doonesbury is running a series this week that pokes fun at how a child could get confused between the newspapers Business Section and the Crime Report. How ironic and perfect the timing.
In the past year we have seen the Enron disaster, Marth Stewarts insider trading mess, Loans to CEOs, Dot-Bomb fall out, post 9/11 excuses, and more. Today the second larget US Telcom company; WorldCom, drove a stake in its heart by announcing nearly 4 billion in questionable accounting transfers!
Once one of the darlings of the '90s, WorldCom has seen its stock plunge from over $65.00 to less than $.33 in after hours trading tonight. The company faces delisting by the NASDAQ if it can not get its stock price back over $1. So how bad can it get? This could be the nail that kills WorldCom. We may end up seeing a sell off of assets and a new 'Chapter' in the company history.
Wait and watch. Months ago I said that the fall out of Enron would reach out and touch more than just Enron. Guess who signed off on WorldComs' financial statements...Arthur Andersen LLP!...mj
update: additional stories and information
WorldCom: the next Enron?
Bush Promises WorldCom Investigation
Trading Halted on WCOM , traded at 9 cents overnight
Some Think It's the Tip of the WorldCom Iceberg
Another stock freefall: Qwest
8:33:44 AM 
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