WCOM Message Board - Msg: 17652144

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Technology Stocks : WCOM

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To: mike thomas who wrote (10799)	6/25/2002 7:20:46 PM
From: cfoe	of 11568

Glad it's over with this pile of dung,... FWIW - About four years ago I was invited to a presentation and luncheon by a company that developed accounting systems for the small to medium size business. During the lunch the US marketing head of the company and I got to talking about some of the high flying companies/stocks and WorldCom's name came up. At the time, I was holding a fair amount (for me) of WCOM stock. The guy trashed WorldCom every which way. His main criticism was that the books were a mess and he extended it to the whole company. He intimated that part of the strategy with mergers were that they were a great place to hide their mistakes, etc. I eventually sold out (one of the few I sold near the top), but not specifically because of his remarks. However, his comments about how mergers could be used to hide garbage stuck with me. Who knows if this report by CNBC is correct or not. But if it is, the guy at lunch four years ago either had intimate inside knowledge of WCOM's situation and accounting be very prescient.

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