DARK DAYS IN TELECOM - WHERE'S THE BOTTOM?
Adelphia Files for Chapter 11 [Wall Street Journal]
HUBRIS - THE ONLY TRUTHFUL REASON
Many excuses will be cited. Many people will offer their opinions. Spin will swirl our minds. In the end pure hubris is the cause of disasters such as this. WORLDCOM DISCLOSED what may be one of the largest accounting frauds ever with the discovery by its audit committee of $3.8 billion in expenses that were improperly booked as capital expenditures. [Wall Street Journal]
Many excuses will be cited. Many people will offer their opinions. Spin will swirl our minds. In the end pure hubris is the cause of disasters such as this.
WORLDCOM DISCLOSED what may be one of the largest accounting frauds ever with the discovery by its audit committee of $3.8 billion in expenses that were improperly booked as capital expenditures. [Wall Street Journal]
© Copyright 2002 Steve Pilgrim.
