Hollywood Starts with Animation

fall!

fall!

Keep falling!

Since the WorldCom scandal came to light, this 100-billion-dollar company, which has always existed as a typical industry giant, has now completely fallen to the bottom, with its market value constantly shrinking and its stock price falling into a penny stock.

The market value is less than 500 million US dollars, which is embarrassing!

But is this the end?

of course not!

"The New York Times" issued an article saying: "At 8:00 am today, the Federal Securities and Exchange Commission formally submitted a lawsuit to the District Court of Wilson, Mississippi, and launched a number of complaints against WorldCom Corporation for false profit reporting, malpractice, and commercial fraud. It is said that , the amount involved exceeds tens of billions of dollars!"

"Bloomberg" issued an article saying: "Can WorldCom persist? The answer is-no!"

The "Washington Post" issued an article saying: "Today, the two houses of Congress launched a formal discussion on the WorldCom incident and effectively reached an agreement on accountability. It is foreseeable that WorldCom is not far away from going bankrupt!"

The Mississippi State, the Chicago Gazette, the Boston Evening News, the West Coast Financial Journal...  

For a while, the media across the United States, whether it is social news, financial news, or even entertainment tabloids, are frantically launching follow-up reports. No matter how uproarious the content is, for this group of unlimited media, as long as they can win the public to pay, They can do anything!

To add insult to injury, no one is better at it than them!

ok~

The Golden Dawn Entertainment Group under Zhu Ke's name has not lost much money in recent days.

WorldCom headquarters.

The current chairman, Dina Shaw, was sitting in the luxuriously decorated office. At this moment, his complexion was ashen, and he kept muttering to himself: "I am a big fool!"

Satisfied?

High spirits?

Everything is gone with the wind now, dissipated with the collapse of WorldCom Corporation!

boom!

There was a loud bang, and the door of the office was knocked open!

—Shareholder Pemberley!

With a ferocious face, Pemberley yelled at Dyna Shaw Annes, "Bastard! It's all because of you bastard! You ruined the whole company!"

"No! I forbid you to say that!"

Hearing this, Dina Shaw Anisten stood up abruptly, and roared: "I am not the one who destroyed the company, but that damned Bernard Ebbers! I have only been the chairman for a few days?!"

Pemberley immediately roared: "It's you! If you hadn't conspired with everyone to get Ebbers out of power, and also audited the company's accounts in the past, could our company be destroyed? Your stupid operation is the only way to destroy the company. The culprit!"

Energy giant Enron;

Global Crossing;

The collapse of these two companies and the scandal that broke out were also due to accounting problems, but they were exposed because of the intervention of outsiders.

But... what about WorldCom?

The reason why it collapsed in such a short period of time was precisely because of Dyna Shaw Anweis's stupid operation of "self-destructing the city wall", otherwise WorldCom would have had the opportunity to move around, and it would not have been like this Collapse quickly.

Dyna Shaw Unwiss and shareholder Pemberley were once the closest comrades-in-arms!

But now?

The two directly tore their faces apart!

scold?

Hehe, the two fought directly!

Not only that, shareholder Farrell Danley, CEO Sanmay and others rushed here immediately after being summoned, and they also fought frantically.

Two days later...

The Securities Regulatory Commission issued a message declaring: "In 2001, Chief Financial Officer Sullivan ordered Comptroller Meyers and Accounting Director Yates to reduce line costs for the third and fourth quarters by ( Debits) of US$828 million and US$407 million, and debit the provision accounts such as deferred tax, provision for bad debts and accrued expenses by the same amount to maintain the debit and credit balance.

"In 2000,

The same falsification was also discovered, which inflated WorldCom's reported pre-tax profits by US$828 million and US$407 million in the third and fourth quarters of 2000, respectively. "

"It was found that in the two years from 1999 to 2001, WorldCom's fictitious revenue reached more than 9 billion U.S. dollars."

"As of mid-2002, WorldCom's total assets were inflated by approximately $11 billion."

Hammer!

As soon as the evidence came out, major shareholders such as WorldCom, who had originally planned to stand firm, completely despaired.

The total market capitalization of WorldCom, let alone 500 million US dollars, is only 360 million US dollars left now, which is completely dead!

Is this capital carve-up feast really over?

of course not!

 …

Wall Street, Gale Capital.

"Celebrate!"

"Cheers!"

CEO Andy Chelop looked around the crowd, and said loudly: "In just a few months, we captured Andersen Accounting Firm and defeated the 100 billion giant WorldCom Corporation. Our account amount exceeded 1.35 billion U.S. dollars!"

The voice just fell.

Suddenly, there was a burst of crazy shouts and cheers.

Chief data analyst Ms. Claire, vice president Thor Tasos, senior partner Baronte... one counts as one, which one is not passionate? !

Ms. Clare shook her fist fiercely: "We may not make the most money in this WorldCom incident, but I'm sure we must be among the top 5 most profitable!"

"Of course!"

Thor Tasos, the vice president, followed up and said: "You must know that we have been sinking a few months ago. On the other hand, the major investment banks on Wall Street are all staring at the bankruptcy of Global Crossing. How can they have so many time zones for a while?" Running WorldCom. This time, we can be said to have seized the upper hand and occupied the right place and population. If we still can’t make a lot of money, are we still elites?!”

$1.35 billion in revenue!

Such a huge amount of income is a coveted existence in the entire financial world, but even so, it has not completely satisfied everyone.

Andersen;

WorldCom;

Although the two companies are completely finished, the big companies connected and related to them are also the targets of Dafeng Capital.

Xerox:

It is the largest copier manufacturer in the world!

In recent days, it has been disclosed that between 1997 and 2001, it has falsely reported its operating income, amounting to as much as 6.4 billion US dollars, far exceeding the figure estimated by the settlement agreement reached by the Securities Regulatory Commission and the company in April this year;

Merck:

It is the third largest drug manufacturer in the world and one of the US pharmaceutical giants.

It was also reported that the false profit of 12.4 billion U.S. dollars was reported. The company has been prosecuted for allegedly using improper financial means to increase profits in the past three years.

Johnson \u0026 Johnson:

Not to mention, the world's largest pharmaceutical giant.

Johnson \u0026 Johnson is under investigation by the federal government for alleged "serious violations in the pharmaceutical manufacturing process, deliberate concealment of accidents, unauthorized changes in manufacturing processes and ingredients, and production of seriously defective drugs."

Quest:

It is the fourth largest telecommunications operator in the United States!

Quest Communications has also been involved in a fraud scandal. The company is suspected of falsely reporting turnover of 1.4 billion US dollars and revising performance reports, and is currently being investigated by judicial authorities. It is reported that the company's huge debt has reached 26.6 billion US dollars.

Because of the collapse of Arthur Andersen and WorldCom, more than 50 large companies were directly implicated. Xerox, Merck, Johnson \u0026 Johnson, Quest Telecom, etc., just pick one out, which one is not worth tens of billions of dollars , Hundreds of billions of large companies.

The city gate catches fire, bringing disaster to the fish in the pond!

Now they all suffered heavy losses!

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