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To: Boca_PETE who wrote (16168)	6/30/2002 1:21:33 PM
From: Kirk ©	Read Replies (2) \| Respond to of 42834

funny.. WCOM is no different then the Fed Government for using long term debt to finance day to day operations. Accounting question. Don't most people look at cash flow for evaluating the health of a company? Moving an expense from long term debt to short term expense doesn't change the cash flow, just the earnings. Thus, why is WCOM in such trouble? All I can see is they lost credibility so they will have a hard time getting their long term debt refinanced at favorable rates. This COULD bring them under. Of course, Bush could draft Rubin to take over the company and give Fed Loan guarantees so people keep their jobs while we throw the rest of the board and management in jail... It will be interesting to see what "they" come up with while WCOM was not allowed to trade. If more companies are just below the surface of having this type of trouble... I hope someone is working out a solution that keeps it all from falling apart... otherwise many, many more will lose jobs! Kirk