Wt Eh Com Gbp A Discussion Threads

[ahkeen] 27/3/2003 15:52

Snowman,

If you're still around, LOL!

[jl202] 27/3/2003 09:12

Did no one notice the conflicts of interest/nepotism/track record in the position of CEO of the United States?

;)

[farnesbarnes] 09/8/2002 00:30

What's going on at AON?

[snowmann] 23/7/2002 15:50

A city boy, Kenny, moved to the country and bought a donkey from an old
farmer for $100. The farmer agreed to deliver the donkey the next day.
The next day the farmer drove up and said, "Sorry son, but I have some bad
news, the donkey died."

Kenny replied, "Well then, just give me my money back." The farmer said,
"Can't do that. I went and spent it already." Kenny said, "OK then, just
unload the donkey."

The farmer asked, "What ya gonna do with him?"

Kenny said, "I'm going to raffle him off." Farmer, "You can't raffle off a
dead donkey!" Kenny, "Sure I can. Watch me. I just won't tell anybody he
is dead."

A month later the farmer met up with Kenny and asked, "What happened with that dead donkey?" > Kenny replied "I raffled him off. I sold 500 tickets
at two dollars a piece and made a profit of $898.00."

Farmer, " Wow! Didn't anyone complain?"
Kenny, "Just the guy who won. So I gave him his two dollars back."

Kenny grew up and eventually became the chairman of Enron.

[energyi] 22/7/2002 14:32

Soon-to-explode bubble companies do not hire fat women

[farnesbarnes] 22/7/2002 14:30

Let's hope Marsh McLennan Companies doesn't go bust. Cor - what a pig of a Playboy issue that'd be.

;->

[kookie2] 22/7/2002 14:10

Playboy is offering WorldCom and Arthur Andersen employees
an opportunity to appear in its magazine, following the
publication of its Women of Enron issue.

Picture editor Gary Cole said: "As soon as our Women of Enron
issue hit the news stands, we started getting calls from female
employees at both WorldCom and Arthur Andersen."

He claims callers were "expressing their desire to pose for
Playboy." The magazine is asking them to send recent photos of
themselves in a two-piece (swim)suit and a head and shoulders
shot. They also have to send proof of employment to be
considered.

[magic] 02/7/2002 12:12

Alchemy - came across this, shows how jittery things are?

The pension accounting of General Electric Capital Corp., the triple-A-rated financing unit of General Electric Co . , was the subject of a story in the UK press over the weekend.

The story, while not considered to contain new information, caused spreads on GE Capital's 10-year debt to jump to around 125 basis points over Treasurys from 110 basis points over Treasurys last week.

[energyi] 01/7/2002 12:00

...but there is only $20 billion in debt?

Where could the cash have gone

[pherring] 30/6/2002 22:49

from Sharecrazy:
The Sunday Express reports that investigators at the US SEC (Securities and Exchange Commission) have identified a further $1.6bn (£1bn) they believe is missing from the accounts of disgraced telecoms operator Worldcom, but they fear the hole could be 10 times higher than the compny as so far admitted. The final bill could be as much as a shocking $40bn.

[alchemy] 30/6/2002 21:03

Anyone think this GE pension fund story in the ST is going to have effect ..not Fraud with a capital F or, indeed illegal, but does affect Headline Proftability
somewhat.

Does not seem to be playing on CBS or anywhere. Any views?

[photoblack] 30/6/2002 20:49

Technet....26 June

You asked why buy Pipex. They took our money four weeks ago but still no
web site/disc allocation.And of course we get palmed off. Any info appreciated.

Photoblack.

[alexx] 30/6/2002 20:06

no, it was just a snippit, that's all it said, it's even possible I misheard or misunderstood, on one of the main terrestrial channels, probably 4

[energyi] 30/6/2002 19:46

alexx, can you tell us more?

[alexx] 30/6/2002 19:43

Just thought I heard on news that Worldcom problem could be up to 5 times the amount previously thought?

Seriously I'm beginning to wonder whether the US market is completely bomb proof and will never collapse whatever the news - is this a bearish sign

[energyi] 30/6/2002 16:24

Name 'em, Shame 'em, Put the Fraudsters behind Bars" /NESEPTFBB

[march] 27/6/2002 01:07

Scrip - terrific stuff as usual but I'm still thinking about this from your post 27 :))

'After ten minutes and much bottom shuffling she stopped me in full flow'

Sorry mate.

Regards

[the player] 27/6/2002 00:59

My tuppence worth.......

The market doesn't really give a damn about the Enron's and WorldCom's of this world - yes, I know today is bad, but the market always overreacts - it will recover......unless......

What really will do for the market, and cause final and total capitulation, is if one or more of the big banks puts their hands up and says "We funded these creeps and we're screwed." If that happens, we're all in deep doggy doo.

Surely, it can only be a matter of time?

TP

[martini] 27/6/2002 00:58

Andersen's again!
Allegedly they touted the Enron model around their clients during 2001 and one wonders how many more Companies took it on and have yet to come out of the woodwork.
Anyone got a list of their clients?
M

[jaygar] 26/6/2002 23:02

This scandal is just another indicator of the lack of integrity seen in many people in positions of power. It is a sad reflection of how our society is 'controlled' by spin and a supposed need to make sure perceptions are good with truth and facts meaning nothing.

[scripophilist] 26/6/2002 20:19

There are companies on the LSE that have similar issues to WCOM. All depends on how you approach the subject. Its a very subjective area. In accounting terms you should spread the cost of the project over it's life to match its revenue stream. Some companies are very upfront with this, others are a little more suspect. The net effect is that the numbers don't look too bad but the cash flow is horrific. It's all about source and use of funds.

I have a wonderful spread sheet I use that suck data of the US SEC and display all the interesting bits for me in financial statements.

Turnover for WCOM was pretty flat for the three years and cost of goods sold have fallen a little so no disaster there.

SG&A costs rose by 24% over the same period. Not good, static turnover but you are paying more to get it. Hmmmm

Depreciation charges up 35%, Hmmm, Could be "Investment" in future capacity but on rising SG&A and static sales, not really. Alarm bells start to ring.

Operating profit collapsed over three years, OK they are having some trouble, Interest expense up 33%, Hmm, Don't like this. FCF negative for the last five years. Debt up $24b or 460% over five years, More than doubled on static turnover in three years. Capex / depreciation averages near three on last five years. MAJOR ALARM BELL.

Stability analysis is terrible, No faith there. ROE and ROA is poor.

The list goes on and on, many a better company to invest in and plenty of warning signs that the system was creaking.

[tromso] 26/6/2002 18:41

Some of the other companies known to be under investigation are:

Other telecoms-related shares, like No. 4 U.S. local telephone company Qwest Communications International (NYSE:Q - News), were also hit hard. Qwest, which is currently under investigation by federal regulators for its accounting methods, fell $1.94, or 46 percent, to $2.25.

Investors worry that WorldCom could face the same fate as Adelphia Communications Corp. (Other OTC:ADELA.PK - News), the troubled cable television operator which filed for bankruptcy protection on Tuesday amid regulatory and criminal probes of its accounting. Adelphia, was the sixth-largest U.S. cable company (this would have been major news but for WorldCom today !).

Tyco International (NYSE:TYC - News), embroiled in its own accounting troubles with a botched restructuring plan and probes by U.S. regulators, was the New York Stock Exchange's most actively traded stock, down $1.40, or 10 percent, at $12.15.

[m.t.glass] 26/6/2002 18:31

"..Enron's rights to trading, financial modelling software sold to Juvenate

PricewaterhouseCoopers - administrator to Enron Europe Ltd (the European holding company of the Enron group) - said it has sold the intellectual property rights for Enron's trading and financial modelling software to Juvenate Solutions Ltd.

PwC said Enron developed a large number of advanced financial models and computer software applications.

It added that Juvenate was formed by a group of ex-Enron management who will market suitably adapted versions of many of the applications they have bought..."

(Ananova)(6pm)