homie
The case discusses the accounting frauds committed by the leading US telecommunications giant, WorldCom during the 1990s that led to its eventual bankruptcy. The case provides a detailed description of the growth of WorldCom over the years through its policy of mergers and acquisitions. The case explains the nature of the US telecommunications market, highlighting the circumstances that put immense pressure on companies to project a healthy financial position at all times. The case provides an insight into the ways by which WorldCom manipulated its financial statements. The case also describes the events that led the company to file for reorganization under Chapter 11 of the U.S. Bankruptcy Court in 2002. The role of the company's top management in the scandal has also been discussed. Finally, the case explores the initiatives being taken by the company to change its management structure, improve its performance and restore investor confidence. She said she took her concerns to Scott Sullivan, WorldCom's finance chief at the time, who told her Ebbers did not want to lower Wall Street expectations. Asked how she chose which accounts to alter, Vinson testified, "I just really pulled some out of the air. I used some spreadsheets.” She said during trial that she hoped to avoid prison time. "Ms. Vinson was among the least culpable members of the conspiracy at WorldCom," Jones said. Still, she said, "Had Ms. Vinson refused to do what she was asked, it's possible this conspiracy might have been nipped in the bud." In MS. Vinson shoes would keep it to myself because they don’t care how long and what you did your still going to jail.