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Technology Stocks : WCOM
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To: JakeStraw who wrote (9015)2/4/2002 2:38:31 PM
From: Rob S.  Read Replies (1) of 11568
 
What can management say that will restore basic confidence: The board could say: "We are an independent board and what Bernie does with his personal finances is his own damn business so we will have nothing to do with bailing him out of stock speculating in WCOM or any other stock." The auditors could say, "It's now clear that most of the 'intangible assets'" is worth nothing and will be written down whether you guys like it or not. And the value of receivables needs to be written down to 1/2 the current amount to account for bad debt collections." And management could say "the market for our services is sick and our cash flows will suffer. We are firing XXXXXXXXX numbers of employees and scaling back capex expenditures to the bone." That would paint a closer to reality picture of the company that investors might be able to trust.
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