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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (61889)	3/11/2002 11:58:34 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

WorldCom Gets SEC Request for Accounting Information (Update3) By Dana Cimilluca quote.bloomberg.com Clinton, Mississippi, March 11 (Bloomberg) -- WorldCom Inc., the second-biggest U.S. long-distance phone company, said it received a request from the Securities and Exchange Commission for information on accounting policies and loans to top officers. The SEC's enforcement division asked for documents on WorldCom customer service contracts, accounting for goodwill and correspondence with its auditors, Arthur Andersen LLP. WorldCom said its practices comply with accounting standards and laws. The SEC is investigating the books of phone companies such as Qwest Communications International Inc. and Global Crossing Ltd. following the collapse of Enron Corp. The SEC request adds to pressure on WorldCom Chief Executive Bernard Ebbers, who needs to repay a $198.7 million company loan and oversaw a 64 percent drop in fourth-quarter profit as sales fell, investors said.