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Strategies & Market Trends : Take the Money and Run

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To: Augustus Gloop who wrote (14200)	8/8/2002 10:49:48 PM
From: Rainy_Day_Woman	Read Replies (1) of 17639

Bankrupt telecommunications giant WorldCom Inc. on Thursday revealed an additional $3.3 billion in earnings errors, almost doubling the total disclosed in its widening accounting scandal to more than $7 billion. WorldCom, the No. 2 U.S. long-distance telephone carrier, also said it may write off $50.6 billion of goodwill and other intangible assets and it would reevaluate the value of its property, plant and equipment. The wave of accounting scandals, starting with the fall of energy giant Enron Corp. last fall and followed by companies including Global Crossing, Tyco International Ltd and Adelphia Communications Corp. have rocked confidence in corporate America. biz.yahoo.com

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