Vol 2 Chapter 698: Andersen collapsed first
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The billion-dollar giant WorldCom is facing the intervention and investigation of the Securities and Exchange Commission and judicial organs, and it has undoubtedly attracted the attention of countless people, but who knows that it is not the first to be able to hold it.
It is precisely to provide an external audit for WorldCom...Andersen Accounting Office!
May 15th, 9 am.
Known as the world's fifth largest international accounting firm giant Arthur Andersen, held a press conference today to officially announce the removal of the current CEO Joseph Belladi from all personal positions, and contact relevant departments to conduct a review.
Abandon the car to be handsome!
Aldo Padoso, president of Andersen (France) branch, was appointed to the position of CEO of Andersen Group.
"Aldo Padoso?"
"I know him, he is a very capable man."
A reporter at the scene solemnly said.
"I know him too!"
A reporter from the French "Marseille" periodical echoed: "Aldo Padoso is not only the head of Andersen's French branch, but he is also a specially-appointed financial expert in the French Chancellery. He has made great contributions to France over the years. Contribution."
Aldo Padoso was ordered to be in danger, and he really saved a lot of reputation for Andersen.
However...the first instruction issued by the new CEO Aldo Padoso after he took office was to lay off employees. And it's massive layoffs!
"In order to ensure the balance of income and expenditure of Arthur Andersen, the company has decided to lay off 2,000 employees from today, and the total number of layoffs will not be less than 7,000 before the end of May!"
As soon as the news came out, the industry was in an uproar.
"This, this, is this true?!"
"Oh my God!"
"This is incredible!"
"You must know that Arthur Andersen accounting firm is like a giant in the industry. It is second only to PricewaterhouseCoopers, KPMG, and Deloitte, and it is as famous as Ernst & Young!"
"Since 1990, when has it done layoffs?"
.......
Countless people were stunned!
As a giant in the industry, Arthur Andersen is not a small company!
It was founded in 1913 by the well-known economist Arthur Andersen (the youngest certified public accountant in the United States at the time). Since its establishment, Andersen has undertaken external audit work for many large companies in Europe and America. And before and after World War II, it was also responsible for the financial review work of the Ministry of Finance in many countries.
The second-generation head Leonard Spachek, as a student of Arthur Arthur Andersen, inherited his mantle, and in just 20 years, he gradually developed Andersen Accounting into a global giant company.
In 2000, Arthur Andersen's annual revenue exceeded US$8.3 billion;
In 2001, Arthur Andersen's annual revenue exceeded US$9 billion;
As of April 2002, Arthur Andersen had nearly 400 offices in hundreds of countries around the world, with more than 80,000 employees;
Regardless of its level of profitability, the size of the industry, or the degree of professionalism, Andersen is a giant company.
But... now?
There was the Enron incident before, and now there is the WorldCom incident. The scandals of two billion giants are enough to destroy Andersen, who is responsible for external auditing work!
7,000 layoffs?
Haha, it's useless at all!
As expected...
On May 18, Deloitte International Accounting Firm, also a giant in the industry, announced: "We will acquire Arthur Andersen with 100% equity!"
Deloitte is over!
The strength of Deloitte is stronger than that of Arthur Andersen, but it is not much stronger, but Arthur Andersen, who is mired in scandals, wants to survive and can only accept this acquisition.
And the price is very low, very low, very low!
......
Golden Shuguang Entertainment Group headquarters.
"Boss, this is news from New York."
Zhu Ke, who was sitting in the office, received the news immediately.
When Zhu Ke looked at the documents, he was immediately pleasantly surprised: "Well, well done! There was an Enron incident before, and now I am caught in the scandal of WorldCom. Who will end it? Even though Arthur Andersen is a giant in the accounting industry, It can't hold on anymore!"
In words, Zhu Kele broke.
Alexander couldn't help asking, "Boss, did you make a lot of money this time?"
"Ha ha!"
Zhu Ke squinted his eyes and said with a smile: "Of course it makes a lot of money. Before the WorldCom scandal was exposed, Arthur Andersen was a giant company with a market value of more than 48 billion U.S. dollars. In just a few days, it was on the verge of bankruptcy. You said, can I make less?"
Alexander nodded suddenly.
In this event, as long as you have the funds to enter the market and the speed is fast enough, then you can definitely make a lot of money.
Do not!
It's stealing money!
News came from New York: Dafeng Capital made $150 million in just a few days!
Moreover, the US$150 million in profit comes only from Arthur Andersen, and if WorldCom is added, the income will definitely double.
Ding Ding Ding~
At this moment, Zhuke's personal satellite phone rang.
As soon as the call was connected, Dafeng Capital CEO Andy Chelop’s surprise voice came: "Boss, good news! Just now, the judicial authorities of the European Union and the United States announced at the same time that they will thoroughly investigate Andersen. It is said that the number of defendants in the United States alone exceeds 170!"
Zhu Ke was shocked immediately: "My God~ Is this true?!"
"of course it's true!"
Andy Chelop held his excitement ~www.wuxiaspot.com~ and said on the phone: "Boss, when I just got the news, I reacted the same as you. I can't believe it is true, but the reality tells you. Me, this is true!"
This shows what?
It shows that Arthur Andersen, a well-known accounting firm established for nearly a hundred years, is about to collapse completely!
The speed is staggering!
At this moment, it was not just Zhu Ke who was shocked alone. Among the investment elites on Wall Street, one was counted as one. Which one was not shocked?
interest!
Interests that are huge enough to make people crazy, exist here!
The people on Wall Street are dying excitedly!
1 day, 2 days, 3 days... In just a few days, the well-known Andersen Company completely collapsed.
The U.S. District Court of Houston issued the first judgment on Arthur Andersen’s obstruction of justice investigation, fined 500,000 U.S. dollars and prohibited it from engaging in business for 5 years. This ruling made Arthur Andersen the first large-scale convicted company in the history of the United States. Accounting firm.
The media across the United States are crazy, they report this news frantically.
Of course, Arthur Andersen expressed dissatisfaction with the ruling and firmly opposed the result, saying that it would continue to appeal to overturn the result.
but!
Who cares about it now?
At least Gale Capital under Zhuke's name has once again made a fortune from Andersen in just a few days, adding up to no less than 240 million U.S. dollars!
Zhu Ke laughed and said, "Andersen can only be regarded as a pre-dinner snack, and next WorldCom, it will be the dinner."
"" The first update is sent.
