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Technology Stocks : WCOM
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To: Oeconomicus who wrote (9025)2/4/2002 2:10:40 PM
From: Rob S.  Read Replies (1) of 11568
 
Of course bailing Bernie out is an accounting and management issue because it goes too the independent nature of the board of directors. The board should never have gone along with bailing Bernie or any insider out under almost any circumstances. They should have no greater privileges than you or any other investor. If the board is willing to be involved with insider manipulation of the fair market dealings of Bernie, then the faith investors place in WCOM is brought into question.

WCOM is a huge roll-up play. They have grown largely through acquisition. out of that they hold a huge amount of debt and "intangible assets" and a relatively small amount of cash and investments. Some other big items, such as the huge accounts receivables is also brought into doubt. With so many companies that WCOM has as customers going chapter 11 or 7, how much of that is monopoly money?

Anyway, I don't much care, I won't be in this thing long or short for more than a day or two anytime in the near future.
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