Qwest is in the same business and they have the same fundamental problems. I don't know if they have fraud but they don't need fraud to go under.
quest was one of andersen's biggest clients, and like WCOM, went to KPMG. andersen billed Q $11.9 million versus $16.8 million for WCOM. i can't tell over what period this is by the sheet i'm looking at.
cool, i didn't know the link to anderson. That just makes me more negative on them. Could be a sort of rolling crash in the telecom sector just like what happened after Enron with the energy companies.
Perhaps someone could email Martha and see if she has any thoughts on more companies that may be in trouble.
your wish..granted Following is a list of S&P500 companies who have Arthur Andersen as Auditor (source:- Bloomberg 14/02/2002) ABT Abbott Labs ADCT ADC Telecom. APD Air Products AW Allied Waste AT Alltel Corp. AHP Amer.Home Prod APA Apache Corp. ONE Bank One BCR Bard Inc. BBT BB&T Corp. BMC BMC Software BCC Boise Cascade BC Brunswick Corp. CPN Calpine Corp. CTX Centex Corp. CIN Cinergy Corp. CMS CMS Energy Corp. CL Colgate-Palmolive. COST Costco Wholesale CUM Cummins Inc DHR Danaher Corp. DAL Delta Airlines DNY RR Donnelley DYN Dynegy Inc. EIX Edison Intl. EC Engelhard Corp. EOG EOG Resources EFX Equifax Inc. FDX FedEx Corp. FE First Energy Corp. FRE Freddie Mac FCX Freeport-McMoran GD General Dynamics GP Georgia-Pacific HAL Halliburton HET Harrahs Entertainment HIG Hartford Financial HSY Hershey Foods HLT Hilton Hotels HI Household Int. ITW Illinois Tool IP International Paper ITT ITT Inds. KMG Kerr-McGee KSE KeySpan Corp. LIZ Liz Claiborne MAR Mattiot Int. MI Marshall & Ilsle MAY May Dept. Stores MRK Merck MIR Mirant Corp. NWL Newell Rubbermaid NEM Newmount Mining GAS Nicor Inc. NI NiSource Inc. NTRS Northern Trust OXY Occidental Petro. OMC Omnicom Group. ORCL Oracle Corp PTV Pactiv Corp. PGL Peoples Energy PFST Peoplesfot PKI PerkinElmer PCL Plum Creek Timber QTRN Quintiles Trans. Q Qwest Comm. RHI Robert Half SANM Sanmina-SCI SLE Sara Lee SFA Scientific-Atlanta SIAL Sigma-Aldrich SNA Snap-On Inc. SO Southern Co SOTR SouthTrust Corp HOT Starwood Hotels STI Suntrust Banks SYY Sysco Corp TMO Thermo Electr. UNH UnitedHealth Group UVN Univision Comm. SLM USA Education WAG Walgreen WMI Waste Management WY Weyhaeuser WCOM WorldCom XEL XCEL Energy
i pu this on the "who's next?" thread a while back...LVLT, more trouble ahead also a new addition...XMSR
Just a point worth noting for where Wcom's trading at the moment is if it manages to get above 0.10-0.11 it'll lose a decimal point,instead of $0.064 it drops that 4,.....get a bit of buying happening they can really boogie once they loose that 3rd decimal. May or may not get the chance but if it does get back up there it might be worth watching.