[lbo-talk] MCI to pay $500m

[Willy Greenfields]

At its height, I believe WorldCom had a market cap of
something like $200 billion. New management is aiming
for a valuation of about $12 billion (coincidentally
the approximate size of the fraudulent billings).

The $500 million settlement is 1/100th the size of the
goodwill write off the company took, and is only about
25 per cent less than the loans Ebbers took out
against the company to cover his margin calls.

Amazing.

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