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Technology Stocks : WCOM

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To: tejek who wrote (11102)	7/2/2002 7:12:00 PM
From: DEER HUNTER	Read Replies (1) of 11568

WorldCom Group (nasdaq: WCOME - news - people ) forbes.com Chief Executive John Sidgmore said on Tuesday the telecommunications giant held "productive talks" with the Securities and Exchange Commission on its $3.85 billion accounting scandal and aimed to have proposals for a financial restructuring this week. "This morning I had an extensive, and I would say highly productive, meeting with Harvey Pitt, the commissioner of the SEC, and his staff, regarding their concerns about our response to the order of information," Sidgmore said at a news conference at the National Press Club. "There remain many open questions, and quite a bit of speculation as to exactly what occurred ... We will release everything we know when we know it," Sidgmore said. The SEC blasted as "wholly inadequate and incomplete" a report by WorldCom filed on Monday that laid out the timeline in which the company discovered accounting problems and said the company was probing further back in its financial records for other mistakes. More...

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