WorldCom faces bankruptcy in accounting scandal
WorldCom Inc the nations No 2 long distance firm slid toward bankruptcy after disclosing 3.8 billion in expenses mislisted as capital. President Bush vowed accountability and SEC and DOJ investigations. Analysts warned of bankruptcy within a week as lenders call in loans. The Dow fell while WorldCom and MCI Group stock shares tumbled amid massive layoffs and leadership shakeups.
MENTIONED IN THIS ARTICLE
Jackson
Miss
WorldCom Inc
U.S
Bush
Wall Street
Faith Bush
America
WorldCom
Trels
Alberta
Canada
Securities Exchange Commission
Justice Department
SEC
WorldCom Group
MCI Group
Thortmoon
LE Sp
John Sidgmore
Scott Sullivan
Sullivan
Boca Raton, Fla
David Myers
Playboy issue to uncover Enron women Friday in Houston
AP reports Playboy unveils Women of Enron in a ten page pictorial hitting newsstands Friday. Ten former and current Enron women pose atop the company's Houston headquarters as part of the August issue.
MENTIONED IN THIS ARTICLE
Playboy
Enron
Houston
Shari Daughtery
Fort Bend
Daughtery
Janie Howard
Enron Energy Services
Tania Reed
December
No. 7
Playboy Magazine
Shari Daugherty
Janine Howard
Courtnne Parker
Avon Lake Nissan Quest line shuts down for refit
The Avon Lake plant halts Quest production to refit for the Ford Escape with about 860 workers affected. The line will reopen in spring 2008, with many workers reassigned or idled but still receiving about 5 percent of pay under the UAW contract.
MENTIONED IN THIS ARTICLE
Avon Lake
Ohio Assembly
Ford
United Auto Workers
Consumers weigh alternatives as WorldCom collapse looms
Dallas Morning News reports customers scramble for options after WorldCom discloses massive accounting fraud. Analysts differ on risk to residential service and corporate data networks, with META Group urging shifts to stable carriers while others expect minimal disruption. SBC reports 25 percent rise in calls as customers consider switching providers.
MENTIONED IN THIS ARTICLE
WorldCom Inc
Meta Group Inc
Don Carros
Stamford
WorldCom
Gartner Inc
Ken McGee
Courtney Quinn
Yankee Group
At&t Corp
Sprint Corp
ORS Coocations Inc
Verizon Communicatons Inc
San Antonio
WorldCom's Ebbers under scrutiny after accounting claims
Arthur Andersen said WorldCom's accounting complied with SEC standards but faulted the former CFO for withholding line cost data. Lernard Ebbers resigned amid debt and questions about 408 million in loans. Analysts say disclosures fuel suspicion and probe what Ebbers and the board knew.
MENTIONED IN THIS ARTICLE
Arthur Andersen
WorldCom
Sulivan
Andersen
Lernard Ebbers
Rick Black
Blaylock & Partners
New York
Ebbers
Bernie Ebbers
Fed Holds Rates At 40 Year Low Amid Recovery Caution
The Federal Reserve keeps the federal funds rate at 1.75 percent for the fourth time this year. Greenspan and the FOMC cite a continuing but uneven recovery, moderating demand, and investor confidence worries amid accounting scandals including WorldCom.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Alan Greenspan
Federal Open Market Committee
Federal Funds
Fed
Mark Zandi
Economycom
Martha Stewart faces wider insider trading probe
Martha Stewart Living Omnimedia shares plunged about 23 percent as reports cited a widening investigation into possible insider trading. The Wall Street Journal said charges could include obstruction of justice and false statements, with key aides allegedly altering accounts to fit a prearranged sale.
MENTIONED IN THIS ARTICLE
NEW York
Martha Stewart
Omnimedia Inc
Multimedia Company
New York Stock Exchange
Stewart
Biotech
ImClone
Food and Drug Administration
TanGlang
Also Mentioned on This Page
MCI Telephone Company
Harvey Pitt
Federal District Court
Sldgmore
Reed
Howard
Ae Ac
Steelworkers Union
United Steelworkers of America
Republic Technologies International
Pension Benefit Guaranty Corp
Republic
PBGC
Lorain
The
Dallas Morning News
WorldCom Rocket Financial
Dow Jones
Dow
Sam Waksal
the Journal
Douglas Faneuil
Securities and Exchange Commission
Peter Bacanovic
Waksal
Aliza
Associated Press
CBS
Journal Report
Faneuil
Raranadie
Nowese
US Attorney's Office
Manhattan
Merrill Lynch
Bacanovic
Richard Strassberg
Wol Lo
Torey
Otice
Alanhattan
Marc Powers
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