Sunday, July 14, 2002

SYMPATHY IS HARD TO MUSTER But, desperation can be an ugly thing Silicon Valley Without Trimmings. Having already gone from boom to bust, many dot-commers are coming to something worse. Now, in Silicon Valley, a part of the dot-com class is being defined by what it needs to return. By John Markoff and Matt Richtel. [New York Times: Business] 9:33:21 PM     Comments[]

"LUCY, YOU GOT SOME 'SPLAININ' TO DO" Auditing Woes at WorldCom Were Noted Two Years Ago. Two years ago, WorldCom notified Arthur Andersen of improper shifts of expenses that were appearing in the international department, but the transactions remained on the company's books until as recently as last month. By Kurt Eichenwald. [New York Times: Business] 9:29:45 PM     Comments[]

THE BANKS DIDN'T FREEZE THE CASH on Friday, but they meet again on Tuesday with the court. This company's stockholders won't see a dime. Worldcom will be faced with deciding what business(es) it wants to emerge from bankruptcy with. Otherwise, the creditors and the court are likely to break the business into pieces and sell them in an attempt to recover some of the money. The company's sales in 2001 totaled $21.3 billion. That's a fair amount of telecom market share to throw up for grabs. Court Won't Freeze WorldCom Assets [Wall Street Journal] 5:45:26 PM     Comments[]

OUTSTANDING NEWS Thank you, Mr. Buffett To date, Florida-based grocery chain Winn-Dixie Stores Inc. and aerospace giant Boeing Co. are the only other major companies to make the change so far, Coke officials said. Coca-Cola will begin treating future stock option grants as employee compensation, a key accounting change that could offer a fairer assessment of ... [Wall Street Journal] 5:34:51 PM     Comments[]

Confucius. "It does not matter how slowly you go so long as you do not stop." [Motivational Quotes of the Day] 9:00:13 AM     Comments[]

© Copyright 2002 Steve Pilgrim.

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