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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 27, 2002
Page
3
Industry experts weigh WorldCom bankruptcy risk and its ripple effects on MCI customers. Con sumer Union and Consumer Federation advise caution, noting potential service and price impacts, while AT T, Sprint and Verizon may gain. Analysts warn of delayed recovery and possible continued telemarketing pressure.
President Bush voiced deep concern over WorldCom accounting and said SEC and Justice Department action could follow. SEC charged WorldCom in New York with fraud as Sidgmore called the disclosure a shock. WorldCom plans layoffs of 17 000 and faces potential bankruptcy as lenders demand repayment.
Reitz argues ethics education remains core in accounting courses despite calls for change as Enron and Andersen collapse influence curricula. Fuerst notes ethics is integrated, not mandating a new course, while discussing future industry shifts, regulatory pressures, and the need for professionals to act rightly despite rewarding conflicts of interest.
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