WKN:881477
Daily Commentary
BUY
Our system recommends BUY as of today. Previous SELL recommendation was made on 7/17/2003 (43) days ago, when the stock price was 0.051. Since then the stock gained 6.86% .
Today the stock closed higher with a lower high and a higher low (sign of decrease in volatility). The volume is low. The security price is trending sideways.
There is a strong upward move that turned up all the moving averages. This may be a sign of a new uptrend. It is still not too late to buy this stock.
Today’s Candlestick Patterns:
Long White Candlestick
Today a Long White Candlestick formed. Buyers were aggressive and the buying pressure was strong. Be careful, this may be a potential turning point!
Reuters
UPDATE - MCI names new board members, Matlin gets seat
Friday August 29, 6:17 pm ET
By Jessica Hall
PHILADELPHIA, Aug 29 (Reuters) - Bankrupt telephone company MCI on Friday named five new members to its board of directors, including distressed debt investor David Matlin, as it works to strengthen its corporate governance and put to rest its $11 billion accounting scandal.
The appointments, which will expand the board to nine members, will become effective on the day MCI (Other OTC:MCWEQ.PK - News; Other OTC:WCOEQ.PK - News) formally emerges from Chapter 11 protection. The board`s first move will be to elect a non-executive chairman among its independent directors, the company said.
Matlin, through his company MatlinPatterson Global Advisers LLC, went on an aggressive shopping spree to buy MCI debt, even enlisting former New York Mayor Rudy Giuliani to help raise money for the purchases.
Industry watchers have estimated that MatlinPatterson owns about 20 percent of MCI`s $30 billion in distressed debt, making it one of the largest stakeholders and giving it a loud voice in the running of the company.
Other new board members included Eric Holder, a former U.S. deputy attorney general; W. Grant Gregory, former chairman of accounting firm Touche Ross and chairman of merchant banking firm Gregory & Hoenemeyer; Judith Haberkorn, a retired executive of local telephone company Bell Atlantic; and Laurence Harris, a partner with the law firm Patton Boggs.
The new board members are part of efforts by MCI, whose legal name is WorldCom Inc., to strengthen internal controls and management oversight. The Oklahoma attorney general on Wednesday slammed the company with a criminal complaint, charging MCI and six former executives with violating state securities laws.
Earlier this week, Richard Breeden, a court-appointed monitor for MCI and a former chairman of the U.S. Securities and Exchange Commission (News - Websites), outlined 78 directives the company must implement to improve its business practices.
Breeden issued mandates that ranged from separating the roles of chairman and chief executive officer to instituting an electronic "town hall" that will allow shareholders to communicate with the board.
The company also faces investigations by the U.S. Attorney General in New York and communications regulators to determine whether it improperly routed telephone calls to avoid paying expensive connection charges. The company has denied wrongdoing.
CAPELLAS TO RELINQUISH CHAIRMAN TITLE
Once a non-executive chairman is elected, Michael Capellas, who currently serves as MCI`s chairman and CEO, will relinquish the chairman title but remain CEO.
MCI has made other changes to clean house. It overhauled its management team, instituted an ethics policy and fired employees involved in the accounting fraud or who failed to report abuses.
The Ashburn, Virginia-based company said it expects to name as many as three more board members prior to its emergence from bankruptcy.
The new board members join Capellas and other previously existing members, including former Financial Accounting Standards Board (News - Websites) Chairman Dennis Beresford, former U.S. Attorney General and Undersecretary of State Nicholas Katzenbach, and former Equifax Chairman and CEO C.B. "Jack" Rogers.
#3 von tester11 31.08.03 07:46:17 Beitrag Nr.: 10.602.610 10602610
Dieses Posting: versenden | melden | drucken | Antwort schreiben WORLDCOM INC. DL-,01
WorldCom Inc. Calendar
Before: Judge Gonzalez
Room 523
09/08/2003 10:00AM 02-13533 WORLDCOM, INC., ET AL.,
Adj. From: 08/25/2003 ( 1 )
Confirmation Hearing.
Objections filed
THIS HEARING WILL BE HELD BEFORE THE HONORABLE ARTHUR
J. GONZALEZ AT THE UNITED STATES DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK, DANIEL PATRICK MOYNIHAN
UNITED STATES COURTHOUSE, 500 PEARL STREET, 9TH FLOOR
COURTROOM, NEW YORK, NEW YORK 10007-1312.
--------------------------------------------------
09/08/2003 10:00AM 02-13533 WORLDCOM, INC., ET AL.,
Adj. From: 08/25/2003 ( 1 )
Motion filed by the Ad Hoc MCI Trade Claims Committee
for partial summary judgment rejecting the MCIC
senior settlement
THIS HEARING WILL BE HELD BEFORE THE HONORABLE ARTHUR
J. GONZALEZ AT THE UNITED STATES DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK, DANIEL PATRICK MOYNIHAN
UNITED STATES COURTHOUSE, 500 PEARL STREET, 9TH FLOOR
COURTROOM, NEW YORK, NEW YORK 10007-1312.
Daily Commentary
BUY
Our system recommends BUY as of today. Previous SELL recommendation was made on 7/17/2003 (43) days ago, when the stock price was 0.051. Since then the stock gained 6.86% .
Today the stock closed higher with a lower high and a higher low (sign of decrease in volatility). The volume is low. The security price is trending sideways.
There is a strong upward move that turned up all the moving averages. This may be a sign of a new uptrend. It is still not too late to buy this stock.
Today’s Candlestick Patterns:
Long White Candlestick
Today a Long White Candlestick formed. Buyers were aggressive and the buying pressure was strong. Be careful, this may be a potential turning point!
Reuters
UPDATE - MCI names new board members, Matlin gets seat
Friday August 29, 6:17 pm ET
By Jessica Hall
PHILADELPHIA, Aug 29 (Reuters) - Bankrupt telephone company MCI on Friday named five new members to its board of directors, including distressed debt investor David Matlin, as it works to strengthen its corporate governance and put to rest its $11 billion accounting scandal.
The appointments, which will expand the board to nine members, will become effective on the day MCI (Other OTC:MCWEQ.PK - News; Other OTC:WCOEQ.PK - News) formally emerges from Chapter 11 protection. The board`s first move will be to elect a non-executive chairman among its independent directors, the company said.
Matlin, through his company MatlinPatterson Global Advisers LLC, went on an aggressive shopping spree to buy MCI debt, even enlisting former New York Mayor Rudy Giuliani to help raise money for the purchases.
Industry watchers have estimated that MatlinPatterson owns about 20 percent of MCI`s $30 billion in distressed debt, making it one of the largest stakeholders and giving it a loud voice in the running of the company.
Other new board members included Eric Holder, a former U.S. deputy attorney general; W. Grant Gregory, former chairman of accounting firm Touche Ross and chairman of merchant banking firm Gregory & Hoenemeyer; Judith Haberkorn, a retired executive of local telephone company Bell Atlantic; and Laurence Harris, a partner with the law firm Patton Boggs.
The new board members are part of efforts by MCI, whose legal name is WorldCom Inc., to strengthen internal controls and management oversight. The Oklahoma attorney general on Wednesday slammed the company with a criminal complaint, charging MCI and six former executives with violating state securities laws.
Earlier this week, Richard Breeden, a court-appointed monitor for MCI and a former chairman of the U.S. Securities and Exchange Commission (News - Websites), outlined 78 directives the company must implement to improve its business practices.
Breeden issued mandates that ranged from separating the roles of chairman and chief executive officer to instituting an electronic "town hall" that will allow shareholders to communicate with the board.
The company also faces investigations by the U.S. Attorney General in New York and communications regulators to determine whether it improperly routed telephone calls to avoid paying expensive connection charges. The company has denied wrongdoing.
CAPELLAS TO RELINQUISH CHAIRMAN TITLE
Once a non-executive chairman is elected, Michael Capellas, who currently serves as MCI`s chairman and CEO, will relinquish the chairman title but remain CEO.
MCI has made other changes to clean house. It overhauled its management team, instituted an ethics policy and fired employees involved in the accounting fraud or who failed to report abuses.
The Ashburn, Virginia-based company said it expects to name as many as three more board members prior to its emergence from bankruptcy.
The new board members join Capellas and other previously existing members, including former Financial Accounting Standards Board (News - Websites) Chairman Dennis Beresford, former U.S. Attorney General and Undersecretary of State Nicholas Katzenbach, and former Equifax Chairman and CEO C.B. "Jack" Rogers.
#3 von tester11 31.08.03 07:46:17 Beitrag Nr.: 10.602.610 10602610
Dieses Posting: versenden | melden | drucken | Antwort schreiben WORLDCOM INC. DL-,01
WorldCom Inc. Calendar
Before: Judge Gonzalez
Room 523
09/08/2003 10:00AM 02-13533 WORLDCOM, INC., ET AL.,
Adj. From: 08/25/2003 ( 1 )
Confirmation Hearing.
Objections filed
THIS HEARING WILL BE HELD BEFORE THE HONORABLE ARTHUR
J. GONZALEZ AT THE UNITED STATES DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK, DANIEL PATRICK MOYNIHAN
UNITED STATES COURTHOUSE, 500 PEARL STREET, 9TH FLOOR
COURTROOM, NEW YORK, NEW YORK 10007-1312.
--------------------------------------------------
09/08/2003 10:00AM 02-13533 WORLDCOM, INC., ET AL.,
Adj. From: 08/25/2003 ( 1 )
Motion filed by the Ad Hoc MCI Trade Claims Committee
for partial summary judgment rejecting the MCIC
senior settlement
THIS HEARING WILL BE HELD BEFORE THE HONORABLE ARTHUR
J. GONZALEZ AT THE UNITED STATES DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK, DANIEL PATRICK MOYNIHAN
UNITED STATES COURTHOUSE, 500 PEARL STREET, 9TH FLOOR
COURTROOM, NEW YORK, NEW YORK 10007-1312.