Hollywood Starts with Animation

February 3, 2002.

9 am.

Zucker gave himself a rare day off today, stayed at home quietly, didn't go anywhere, didn't want to worry about any work, just sat on the sofa in the living room and watched TV.

Well, with an extra cup of tea.

Zhu Ke, who is now a billionaire, still enjoys it occasionally.

da da da~

There was a sound of brisk footsteps.

Jonathan Lewan, a core member of the security team maintaining Zucker, walked in with a copy of The Enterprise in his hand.

"What about buying things back?" Zucker asked with a smile.

"certainly."

Jonathan Lewan said: "The Enterprise is a relatively small media newspaper with a low circulation. I ran three streets to buy it in a convenience store."

Zucker nodded and smiled: "The Enterprise News is quite niche, but its news is very accurate. I'm going to buy it after a while."

Jonathan Lewan smiled and stood alone.

He is a security officer, and he is also a core officer. Naturally, he has to maintain Zucker's personal safety at all times. After all, millions of dollars in security expenses every year are not in vain.

"Well, it's the new issue of "Enterprise News", yes, I'll see if WorldCom's financial report is out." Zucker muttered to himself.

WorldCom is an American communications company headquartered in Virginia.

It has a history of decades and has experienced ups and downs in the American telecommunications industry for half a century. It has driven the antitrust legislative process in the United States, which has led to the break-up of AT\u0026T (the American Telephone and Telegraph Company) telecom unicorn;

WorldCom was once the second largest long-distance telephone company in America after AT\u0026T!

The market value is hundreds of billions of dollars!

But......

For Zhu Ke, who is a traveler, he knows that there is a problem with WorldCom!

This telecommunications giant with a market value of more than 100 billion US dollars is about to collapse in the near future, completely becoming history, and becoming the second largest bankruptcy case in American history.

In 2008, Wall Street giant Lehman Brothers;

In 2003, telecom giant WorldCom;

In 2002, the energy giant Enron;

The bankruptcy cases of the above three companies are collectively referred to by economists as the three major bankruptcy cases in the United States!

Lehman Brothers, one of the top five investment banks on Wall Street, aside from...

As of the first quarter of 2002, telecommunications giant WorldCom had total assets of more than $100 billion and debts of $31 billion. The scale of the bankruptcy involved was twice that of Enron, which filed for bankruptcy in December 2001. Four times the size of the Global Crossing bankruptcy, it became the third largest corporate bankruptcy in U.S. history.

"Global Telecom went bankrupt not long ago, and I didn't make arrangements in time, so the income of Gale Capital in it was only more than 30 million US dollars."

"It's a pity!"

That's right!

During the period between the end of 2001 and the beginning of 2002, Zhu Ke's main energy and the main working capital of Dafeng Capital were basically put on Enron Company. material and financial resources.

Of course, the result is very good!

Gale Capital successfully made 2.6 billion US dollars in the Enron incident!

This profit figure may not be as good as the annual profit of the five major investment banks on Wall Street, but it definitely tops more than 90% of the investment banks, which adds a splendid performance to Dafeng Capital, making Dafeng Capital a star enterprise on Wall Street.

However, in the bankruptcy case of Global Telecom in January 2002, Zucker...was more than enough.

Who made Gale Capital come in too late? !

"I missed Global Telecom, one of the three major bankruptcy cases, WorldCom, I can't miss anything."

Zucker bought the "Enterprise News" in order to see WorldCom's financial report for the first time!

The first thing that catches the eye is WorldCom's fourth quarter 2001 earnings report.

- $87 million!

WorldCom's fourth-quarter profit was only $87 million, down 67 percent from 2000, and its full-year 2001 profit was $1.4 billion.

A year's total profit of $1.4 billion looks a long way from its market value of hundreds of billions of dollars.

However, you must know that WorldCom invested more than 3 billion US dollars in fixed assets in the second half of 2001, and the balance of the two resulted in a substantial decrease in its profits.

Bernard John Ebers, chairman of WorldCom, said in an interview: "WorldCom's fourth-quarter earnings fell sharply. We as managers are absolutely responsible, and I will not shirk responsibility, but I have Confidence returned WorldCom's earnings to over $100 million in the first quarter of 2002."

The market still recognizes WorldCom.

Standard \u0026 Poor's, Moody's Investors Service and Fitch International Credit Corporation, as the world's three major credit rating companies, have a minimum credit rating of A for WorldCom, which belongs to the category of high-quality stocks.

Quality stocks?

A credit rating or above?

Earning more than $1.4 billion a year?

......

Looking at the "Enterprise Daily" commentary on WorldCom, Zucker couldn't help but let out a hearty laugh.

fake!

All are fake!

In the collapse of Enron, there was the problem that the management and financial staff of the company falsified and falsely reported profits. The same goes for WorldCom!

Don't forget, Zucker came across with a golden finger system!

Through the information given by the system, Zhu Ke knew that WorldCom's fraudulent reporting of profits was more excessive than Enron, especially better!

Year 2003:

The chairman of WorldCom admitted: "In terms of inflating and exaggerating the profits of external financial reports, the amount of such fraud is as high as 1.635 billion US dollars."

The number is staggering.

But is the truth really just $1.635 billion?

of course not!

External spokespersons for the Securities and Exchange Commission and the Department of Justice said: "WorldCom has a problem of up to $3.8 billion in inflating and exaggerating its externally reported profits."

Well~ Even in court, WorldCom chairman Bernard John Ebers was not frank enough and concealed some of the facts.

Is it only $3.8 billion?

A week later, a number of media broke the news jointly: "It was found that in the two years from 1999 to 2001, WorldCom's fictitious revenue reached more than 9 billion US dollars; as of the end of 2003, the company's total assets were inflated by about 11 billion. Dollar."

Ha ha!

The amount is so high that it far exceeds the data given by the Securities and Exchange Commission!

This shows what?

It means that within the Securities and Exchange Commission, or from a higher-ranking person, someone is covering up for WorldCom.

This also caused a lot of political scandals at the time!

huh~

After reading the contents of the newspaper in one breath, Zu Ke stretched out his body and smiled and said, "I made a lot of money from the bankruptcy case of Enron Corporation. This time, WorldCom Corporation has to make a lot of money no matter what."

" "The second is sent.