The trading of Worldcom stock stopped trading in late June at an all time low. The news from the Worldcom scandal was so far reaching it set new post September 11th lows for the stock market. ... The stakeholders stretch far and wide and include the Worldcom investors, creditors, employees and their families, customers, the auditors, the stock market, other corporations especially in the telecommunications industry, and even the Worldcom executives responsible. Investors in Worldcom were large and small, some were employees with 401k(s) invested in Worldcom stock, but all were affected in some...

• Word Count: 871
• Approx Pages: 3
• Grade Level: Undergraduate

People lost millions of dollars due to the drop in stock and were in disbelief. ... They were treated well, and the company matched employee pension contribution with Enron Stock. ... Enron employees built up their retirement plan based on their Enron stock holdings. ... The employees and investors were repeatedly lied to by Enron executives, who knew that Enron was going down but desperately tried to boost up Enron's stock prices by convincing employees to keep their shares. ... They even encouraged employees to purchase more stock. ...

• Word Count: 1298
• Approx Pages: 5

WorldCom's top-level managers violated the GAAP by capitalizing operating expenses and overstated their earnings by $11 billion; which resulted in losses worth $30 billion for investors and 30,000 employees lost their jobs. ... The stakeholders in the WorldCom case are as follows: a) Bernie Ebbers: Chief Executive Officer b) Scott Sullivan: Chief Financial Officer c) David Myers: Controller d) Buford Yates: Director of Accounting e) Cynthia Cooper: Vice-President of Internal Accounting f) Betty Vinson: Former Director of Corporate Reporting g) WorldCom's Audit committee and Boa...

• Word Count: 681
• Approx Pages: 3
• Grade Level: Undergraduate