• 91°
franklin county times

WorldCom: Frustration, disgust over what went wrong

By By William F. West / community editor
July 2, 2002
The collapse of telecommunications giant WorldCom caught Wall Street and Mississippi by surprise and investment advisers are shaking their heads in disgust over what went wrong.
He said the trucks have been outside WorldCom's headquarters in Clinton ever since the wee hours of Wednesday morning "and they haven't left yet."
Wall, 42, who has been in the investment business for two decades, said that the initial reactions "turned from disappointment and a little bit of sadness to shock that is, more turning to shock and anger."
But Wall said, "When you get into fudging the numbers and making things up, it's a whole different story."
He said that he has talked with institutional investment managers from all over the nation.
In particular, he told of a conference call with a fixed-income expert in Atlanta the previous Tuesday afternoon, prior to the news that WorldCom was withholding the truth about billions of dollars in expenses.

Franklin County

Police search underway for man wanted in three states

News

Traveling band makes stop at Phil Campbell High School

News

Second Canadian Phil greeted by town

Franklin County

Franklin County Schools lead nurse school nurse named administrator of the year

News

Former Russellville resident performs in ‘Miracle Worker’

Galleries

PHOTOS: Russellville, Red Bay public libraries enjoy summer reading program events

Franklin County

PROGRESS 2024: Veteran Spotlight: Robbie Richardson

News

University of Mississippi announces spring Chancellor’s Honor Roll

News

PHOTOS: Community turns out for Phil Campbell Festival

Franklin County

University of Alabama announces spring graduates

Franklin County

Dean’s, president’s lists students named for UA spring term

Franklin County

PROGRESS 2024: Veteran Spotlight – Hugh Plott

Galleries

PHOTOS: Inaugural downtown Russellville Art Crawl winners

Galleries

PHOTOS: Russellville Public Library holds princess, pirates bounce party

Franklin County

Northwest Shoals Community College signs 24 students in FAME class

Franklin County

PROGRESS 2024: Veteran Spotlight – Tony Chard

News

Car show benefit helps raise needed funds

News

Russellville High School varsity cheerleaders attend UCA cheer camp

Franklin County

NWSCC receives $18,000 in grants from Dollar General Literacy Foundation

News

Russellville equine therapy visits library program

News

Steam locomotive delivery to Red Bay delayed, arrives July 1

News

Local author holds book signing at RPL

Franklin County

Former Russellville resident performs ‘Miracle Worker’

News

Presenting: Miss Phil Campbell

x