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Technology Stocks : WCOM
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To: James Calladine who wrote (11017)6/28/2002 12:52:48 PM
From: telecomguy   of 11568
 
To me it sounds like Sullivan took a very aggressive interpretation to help his old mentor Ebbers meet his numbers (no personal gain for Sullivan remember) in order to keep the creditors/bondholders/banks at a distance even if the fundamental business was eroding quickly.

And I am SURE Anderson was aware of these large tranfers of expense to the CAPEX. Either that or the Anderson auditors simply did not do their job of reviewing all major Journal Entries because according to the WSJ, Sullivan simply made couple of manual Journal entries to move 3.8 billion off the P&L accounts to the Balance Sheet WITHOUT ANY BACK UP. How the heck does Anderson not review that with Sullivan???

So 90% chance that Anderson looked at the Journal Entries and decided to look the other way when Sullivan made a strong push to put those entries through....

If anyone should be put to the red carpet, i guess it's Anderson but they are already toast so....

Ebbers was I am sure fully aware of these entries unless Sullivan acted alone to help out his old mentor (which I can't imagine actually since this is such a large amount -- i am sure Sullivan and Ebbers had a few chat about it).

What is clear is that Sidgemore had nothing to do with this as he was already being frozen out by Sullivan/Ebbers at that point and was running his own UUNET division as a rump operation.

What people will do when put under stress/duress!
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