Vol 3 Chapter 701: It's completely finished
Down!
Down!
Keep falling!
Since the exposure of the WorldCom scandal, the 100 billion company that has always existed as a typical industry giant has now completely fallen to the bottom, its market value has continued to shrink, and its stock price has fallen into a penny stock.
The market value is less than 500 million U.S. dollars, which is embarrassing!
But is this over?
of course not!
The New York Times issued a statement saying: "At 8 o'clock this morning, the Federal Securities and Exchange Commission formally filed a lawsuit in the Wilson District Court of Mississippi, and initiated multiple complaints against WorldCom Inc. for misreporting profits, malpractices, and commercial fraud. It is said that , The amount involved in the case exceeds tens of billions of dollars!"
"Bloomberg" issued an article saying: "Can WorldCom still persist? The answer is-no!"
The Washington Post said: “Today, the two houses of Congress started a formal discussion on the WorldCom incident and effectively reached an accountability agreement. It is foreseeable that WorldCom is not far from bankruptcy!”
"Mississippi", "Chicago News", "Boston Evening News", "West Coast Financial News"...
For a while, the media across the U.S., whether it is social news, financial news, or even entertainment tabloids, are madly tracking reports. No matter how uproar the content is, for this group of media with no lower limit, as long as they can win the people to pay, They can do anything!
No one is better than them!
Ok~
The Golden Dawn Entertainment Group under Zhu Ke's name has not lost much money in recent days.
WorldCom headquarters.
The current chairman Dinah Shaw Anis was sitting in the luxuriously decorated office. At this moment, his face was gray and he kept muttering to himself: "I am a big fool!"
Triumphant?
High spirited?
Everything is now gone with the wind, and disappeared with the collapse of WorldCom!
boom!
There was a loud noise, and the office door was knocked open!
——Shareholder Bloomberg!
Bloomberg had a grim face and yelled at Dinah Shaw Anis: "Asshole! It's all because of you asshole! You ruined the entire company!"
"No! I forbid you to say that!"
Hearing this, Dinah Shaw Anisten stood up and roared: "It is not me who destroyed the company, it is the **** Bernard Ebers! I have only been chairman of the board for a few days?!"
Bloomberg immediately roared: "It's you! If you didn't want everyone to take Ebers down, and you audited the company accounts of the past, can our company be destroyed? Your stupid operation would destroy the company. The culprit!"
Energy giant Enron;
Global Telecommunications Corporation;
The collapse of these two companies, the scandal that broke out was also due to accounting problems, but it was exposed because of the intervention of outsiders.
However...what about WorldCom?
The reason why it collapsed in a short period of time is precisely because of the stupid operation of Dinah Shaw Aynes’ “self-destructing the city wall”, otherwise WorldCom will have the opportunity to flicker, and it will not be so. Collapse quickly.
Dinah Shaw Anis and shareholder Bloomberg were once the closest comrades-in-arms!
But now?
The two directly tore their faces!
curse?
Haha, the two of them fought directly!
Not only that, the shareholder Farrell Danley, CEO Sammay and others, after being summoned, rushed here as soon as possible, and they also fisted together frantically.
Two more days later...
The Securities Regulatory Commission issued a message, declaring: "In 2001, Chief Financial Officer Sullivan ordered the Comptroller Meyers and Accounting Director Yates to reduce the line costs in the third and fourth quarters respectively ( Credit) US$828 million and US$407 million, and debit the deferred tax, provision for bad debts, and accrued expenses and other reserve accounts at the same amount to maintain the balance of borrowing and lending."
"In 2000, the same fraud was discovered, which caused WorldCom's reported pre-tax profits in the third and fourth quarters of 2000 to inflated by US$828 million and US$407 million, respectively."
"It was found that in the two years from 1999 to 2001, WorldCom's fictitious revenue reached more than 9 billion U.S. dollars."
"As of mid-2002, WorldCom's total assets have been inflated by approximately US$11 billion."
Thing hammer!
As soon as the evidence came out, the major shareholders such as WorldCom, who had originally planned to be firm, were completely desperate.
The total market value of WorldCom, let alone 500 million U.S. dollars, currently only has 360 million U.S. dollars left, which is completely dead!
Is this capital-sharing feast really over?
of course not!
......
Wall Street, Gale Capital Corporation.
"Celebrate!"
"Cheers!"
CEO Andy Chelop looked around and said loudly: "In just a few months, we captured Arthur Andersen accounting firm and defeated the billionaire giant WorldCom. Our account amount exceeded 1.35 billion U.S. dollars!"
The voice just fell.
Suddenly, there was a burst of crazy shouts and cheers.
Chief Data Analyst Ms. Claire, Vice President Thor Tassos, Senior Partner Baronte... one counts one, which one is not enthusiastic? !
Ms. Claire shook her fist fiercely: "In this WorldCom incident, we may not be the one who made the most money, but I'm sure that there must be us in the top 5 with the highest profit!"
"Of course!"
The vice president of Thor Tassos immediately said: "We must know that we have been sinking a few months ago. On the other hand, the major investment banks on Wall Street are all staring at the Global Telecom bankruptcy. At a time, where do they have so many time zones? Run WorldCom. This time, we can be said to have seized the first hand, occupying the right time and place, and the right population. If this does not make a lot of money, are we still elites?!"
$1.35 billion in revenue!
Such a huge amount of income is an eye-catching existence in the entire financial world~www.wuxiaspot.com~, but even so, it has not completely satisfied everyone.
Andersen
WorldCom
Although the two companies are completely finished, the big companies connected to and related to them are also the targets of Dafeng Capital.
Xerox:
It is the world's largest manufacturer of photocopiers!
In recent days, it was disclosed that it had misreported operating income from 1997 to 2001, amounting to US$6.4 billion, far exceeding the figure estimated by the Securities Regulatory Commission and the company in the settlement agreement reached in April of this year;
Merck:
It is the world's third largest drug manufacturer and one of the US pharmaceutical giants.
It was also reported that the false profit of 12.4 billion US dollars was reported. The company has been sued for allegedly using improper financial means to increase profits in the past three years.
Johnson & Johnson:
Needless to say, the world's largest pharmaceutical giant.
Johnson & Johnson was investigated by the federal government for being suspected of "serious violations in the pharmaceutical process, deliberate concealment of accidents, unauthorized changes in manufacturing processes and ingredients, and production of severely defective drugs."
Quest:
It is the fourth largest communications operator in the United States!
Quest Communications also reported suspected fraud scandals. The company is suspected of falsely reporting $1.4 billion in turnover and revising its performance report, and is currently under investigation by the judicial authorities. It is reported that the company's huge debt has reached 26.6 billion US dollars.
Because of the collapse of Arthur Andersen and WorldCom, more than 50 large companies were directly implicated, such as Xerox, Merck, Johnson & Johnson, Quest Telecom, etc., just pick one out, which one is not worth tens of billions of dollars. , Hundreds of billions of large companies.
The city gate caught fire, and the pond fish was hit!
Now they have suffered heavy losses one by one!
"" The first update is sent.
