rh78 0 Posted June 28, 2002 The Worldcom incident doesn't surprise me at all. I think this is typicall of corporate America. A company hires a CEO to run the company. The company pays him lots of money and he or she gets huge stock bonuses. The CEO then gets together with the accountants and works out a plan to use trickery to fool people into thinking the company is doing better than it really is. When all is done and finished, the stock has risen, the CEO has sold off the stock for 100 million dollars, the company goes broke, and the employees get screwed out of thier jobs and paychecks. Enron, Worldcom, ...hmmm who will be next. HP? IBM? Cisco? Share this post Link to post
BladeRunner 0 Posted June 28, 2002 We will really have to wait for the full story before judgement can be passed on Worldcom. There is a very good chance that the CEO was never aware of what was going on. Accounts departments are rules unto themselves, you may even find the CFO wasn't aware of what was being done, although if that is the case he would have to go anyway for not knowing (catch 22 or what). Share this post Link to post
sapiens74 0 Posted June 28, 2002 People blame the problems in the world on religion, terrorism, racism, plague, famine, locists or whatever..... bottom line is greed. "The LOVE of money is the root of all evil" ANd money brings power. What it is really all about. But blaming this on Corporate America is a bit unfair. Greed starts at the bottom, and goes all the way up Rich folks just have more to be greedy with. Share this post Link to post
