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CaveNetworks

  Friday, Aug 9, 2002 Report News | Archive | Top  
WorldCom Keeps Finding Errors
- Posted 8:00 PM By CCMC
EMail News to a Friend  Printer Friendly Version    6 Comments | Add 
WorldCom claims another $3.3 billion accounting error. This on to of the already $3.85 billion in errors. This would bring their total errors to about $7 billion. But whos counting small change?
The earlier accounting errors brought fraud charges against WorldCom by the U.S. Securities and Exchange Commission in June and pushed the company into bankruptcy last month--the largest in U.S. history listing $41 billion in debt.

The discovery of further accounting problems is not a total surprise, as WorldCom has said it was probing its books as far back as 1999. The company is also under investigation by the U.S. Justice Department and Congress.
So big companies can misplace several billion dollars, But when we try to the IRS gets all over us.
Source: CNet News.com
 
6 Comments Posted

#1 by Kagato on Friday, Aug 9 at 9:47 PM 
Sure, there's a few extra 0's and decimal locations, but didn't everyone learn 
how to add/subtract numbers in like the first and second grade?
#2 by CCMC on Friday, Aug 9 at 10:21 PM No if you work in the accounting department in a large company you don't have to know how to add or subtract, only misplace several zeros.
#3 by Kagato on Friday, Aug 9 at 11:14 PM Or be CEO or near that level of executive, you get to pocket a few of those extra zeros..YOINK!
#4 by CCMC on Saturday, Aug 10 at 10:35 AM How do I get one of those jobs. I could use a couple of those extra zeros
#5 by Kagato on Saturday, Aug 10 at 3:56 PM If you have any morals, get rid of them. Cut your intelligence in half. Learn to use big, impressive words that mean nothing (lawyer talk). And you're set =P
#6 by CCMC on Sunday, Aug 11 at 3:23 PM Great, now all I need is someone to hire me...

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