Colin Macmillan watched helplessly as ICQ's stock price took a ride on the elevator of death from a market value of US$320 billion in one morning, losing US$40 billion to a value of US$280 billion.

Beautiful knife.

Colin MacMillan is still not sure what a market capitalization of US$40 billion means, but one thing is that the entire icq management and senior executives are all lost and gloomy today.

The "old employee" who took Colin Macmillan and the others to dinner that day and held a party for them in the evening was staring at the icq stock price on the computer screen, like a gambler who was betting everything, and kept shouting.

Say a dirty word.

Colin MacMillan heard that this old employee had no time to cash out his icq shares. He also bought a lot of icq stocks. People like him invested all their wealth and life in icq stocks.

There are countless other icq staff.

After all, in the past few years, no matter what product you invest in, you can earn more than buying icq stocks. When icq was listed, it only had more than 10 billion US dollars. Now its market value has exceeded 400 billion US dollars. Over the past few years, the stock price has been soaring, which can be said to be stable.

As a representative of non-compensation, who would have thought that one day it would collapse!

Whether it is inside icq today or on the Nasdaq trading floor, just like this "old employee", countless investors who bought icq stocks are staring at the screen and selling icq stocks. Some of them

I can't bear to accept it. After all, these stocks were still worth tens or even millions a few days ago, but now they have suddenly dropped by 30 to 40%. If I don't get it, it's a loss. It's really painful.

But if they don’t sell it now, it’s really worrying whether icq’s stock price will continue to fall. Even if they sell it now, they will still make some profit!

Countless investors were hesitant, and many still harbored hopes that it would rise again. As a result, they watched icq's stock price plummet!

Not only are representatives of ICQ, AOL Time Warner, Yahoo, Cisco, Microsoft, Sun, General Electric, IBM, Intel and other technology stocks, their performances today are basically the same, and there are countless people who have criticized WorldCom.

Originally, the Internet had begun to collapse these days, but it finally stabilized its position. As a result, the telecommunications industry was hit by thunder again. The Internet and the telecommunications industry were the instigators of the Nasdaq craze, and they were the two engines for the rise in stock prices. They were one after another.

Collapse, the entire Nasdaq was directly brought down!

"Cynthia Cooper, vice president of finance at WorldCom, reported WorldCom for financial fraud!"

When Colin Macmillan opens any news website, he can see breaking news. Today's collapse of Nasdaq is attributed to WorldCom's thunderstorm.

If this news had come out last year, the reaction from the outside world would not have been so great, and they might have questioned the authenticity of the news. But now that the Nasdaq has collapsed, the Internet, which used to be regarded as "high-tech", has exposed its underwear.

.

At this time, the outside world suddenly discovered that an industry that had been regarded as high-tech and unattainable in the past turned out to be such a bunch of ugly things. They burned so many dollars and ended up cashing out every one of them to buy luxury cars and villas.

I went on a private jet to hook up with a Hollywood actress.

As for the bragging rights in the past, none of them are reliable. No matter how much revenue, user scale, or how powerful the technology is, the results are all the same as paper.

Gone!

In addition, industries related to the Internet, such as telecommunications and mobile networks, are now being questioned as to whether they are the same as the Internet. The so-called love is as deep as the hatred that makes you want to bite the other person to death.

Investors who were previously obsessed with Internet concept stocks are now looking at them with suspicion. As soon as WorldCom's financial problems emerged, it immediately became the focus of the entire technology industry.

When Colin MacMillan saw the news, it was Cynthia Cooper, WorldCom's vice president in charge of financial auditing, who stabbed WorldCom in the anus.

The media speculated that WorldCom's game was too big. Last year alone, in order to make its performance look good and issue additional shares to cut leeks, WorldCom deceived at least more than 9 billion US dollars in its accounts. Cynthia Cooper, who is responsible for auditing the financial affairs

, I felt that I couldn’t hold on any longer, and I didn’t want to take the blame for WorldCom, so I jumped out and directly exposed WorldCom’s financial fraud, reported it directly to the Federal Securities Commission, and then reported it to the media.

It is said that in order to obtain this evidence, Cynthia Cooper also hired hackers to directly invade WorldCom's computer system. The plot is so bloody that it is not much worse than the plot of a movie produced by Hollywood. Otherwise, the movie originated from

Reality……

With this operation, Cynthia Cooper put all the blame on WorldCom President Bernard Ebbers and WorldCom CFO Scott. She became a tainted witness and a person who was not afraid of power and worked for investors.

, a hero who exposed the "shady secrets" in order to let the public know the truth!

A dead Taoist is better than a poor Taoist. When faced with whether to go to federal prison herself or send Ebbes and her gang to jail, Cynthia Cooper chose the latter without hesitation.

As for what was revealed in the media, Cynthia Cooper discovered the problem with WorldCom's accounts and argued with Scott, but when she got no response, she asked hackers to hack into WorldCom's financial system and got evidence and so on. Listen to it.

That’s it.

According to what Cynthia Cooper revealed, WorldCom's finances were fooled, not tens of millions to 120 million US dollars, but tens of billions of US dollars. It was definitely not something that could be done in a short time, at least it would take a few years.

After a long time, she was in charge of financial audit, so she didn’t know anything about it beforehand, and there was no problem at all?!

Moreover, Cynthia Cooper clearly put a lot of thought into reporting the matter directly to the Federal Securities Commission, then notifying the media, and finally reporting the matter to WorldCom's board of directors.

But in any case, this stabbing allowed Cynthia Cooper to be whitewashed. As a "hero" who dared to expose the shady story and dared to fight the dragon with a market value of 200 to 300 billion U.S. dollars, she occupied the moral high ground. Commonwealth Securities

The Commission, the Federal Ministry of Justice, the Federal Tax Investigation Service, etc. had to hold their noses and admit this. No matter what Cynthia Cooper did, they had to protect her. Even the media had to defend Cynthia Cooper.

Only by singing praises...

Faced with the big thunder revealed by Cynthia Cooper, the Federal Securities Commission, the Federal Taxation Service, etc. could no longer pretend to be deaf and dumb. By noon, several major federal departments held press conferences one after another to announce the establishment of investigation teams to investigate.

WorldCom conducted an investigation and banned WorldCom President Ebbers, WorldCom CFO Scott and others from temporarily leaving America!

As soon as this news came out, it once again caused an uproar. Those who had been betting on luck that nothing would happen to WorldCom in the morning felt their hearts tremble when they saw these reports. Apparently, the evidence presented by Cynthia Cooper may not be true.

Beat WorldCom, otherwise these measures would not be taken against Ebbes, who is still a big shot.

"A few years ago, Bruno Song had questioned WorldCom's financial problems..."

At this time, a media suddenly came up with news about the fight between Song Yang and Bernard Ebbes a few years ago. At that time, Song Yang questioned WorldCom's financial revenue and dividends, which were many times higher than those of his peers.

Many, but Shitong was at its peak at that time, and no one believed Song Yang's words. Looking back now, Shitong, a guy with thick eyebrows and big eyes, was fooled...

What really panics the entire Nasdaq, even Wall Street, and global investors is that if WorldCom is really hammered, then... Chubb, one of the world's top five accounting firms that has been cooperating with WorldCom in recent years,

Trust the accounting firm, is there something wrong?!

It would be ridiculous to say that Arthur Andersen, who was responsible for auditing WorldCom, had no knowledge of such a big scandal. This is one of the top five accounting firms in the world, and one of dozens of Fortune 500 companies in the world.

, including Merck Group, Abbott, America Home Furnishing Group, WorldCom and... Enron Group, all have financial audits by Arthur Andersen!

Now that WorldCom has been hit by a storm, people can't help but wonder, will these giant companies have problems?

Many companies audited by Arthur Andersen jumped out and claimed that they had no problem. Andersen also swore that they were deceived by WorldCom. They had no financial transactions with WorldCom and did not receive any more from WorldCom.

Review expenses, help WorldCom whitewash its performance, etc., and claim to "re" review WorldCom's finances...

WorldCom, who had been stabbed, also had the courage to complain. Bernard Ebbers angrily declared at the media conference, "There is no problem with WorldCom. I don't know where those baseless "evidences" come from."

Since then, I still have Shitong, and I have never thought of deceiving anyone.

All this is a conspiracy, a conspiracy by those opponents who are afraid of WorldCom and want to use despicable means to defeat WorldCom!

They will not succeed, not before, not now, not in the future!"

With just one sentence, Bernard Ebbs left the scene, regardless of the questions thrown at him by the media.

Just when I returned to the lounge, Sitch Moore, a technology guru in the telecommunications industry who had recently been promoted to vice president of WorldCom and was originally considered by the outside world to be Bernard Ebbs's disciple and successor, saw Ebbers shaking hands.

The hand holding the water glass keeps shaking!

"Damn it, Scott, what happened to Cynthia Cooper? Didn't you tell me that you had already stabilized her, how did she get those..."

Bernard Ebbs' face was pale and he shouted at Scott in a sharp voice. Then, Bernard Ebbs saw Sitch Moore still in the room.

With a change of expression, Bernard Ebbs said to Sitch Moore, "Moore, those are just rumors. WorldCom will not fall. WorldCom will still need you in the future!"

Hitch Moore, who was "invited" out of the room by Ebbes, looked at the closed door with a complicated expression. Although he couldn't hear what was being said inside, he understood that the world of Shitong had changed, and even one day,

Ebbers entered the federal prison without any surprise, but for WorldCom, Sitch Moore couldn't help but sigh.

In the icq president's office, little Edgar Bronfman, with red eyes, looked at the computer screen with a dull expression. For a moment, he even wondered if the computer screen was turned upside down...

He had unplugged the phone cord on the table and dropped the cell phone on the ground. Little Edgar knew that as long as he turned on the cell phone, thanks to the recently launched "missed call display function" of America Telecom, he would

I can see a bunch of phone calls from Canada.

But those phone calls were like a reminder to little Edgar. In the morning, he hesitated for a moment about whether to sell the icq shares held by the Bronfman family, and he still placed his hope on the rumors last night.

, are all rumors.

But in just a few minutes, if I want to sell, I have no chance. Today, various Wall Street institutions, foundations, overseas consortiums, Goldman Sachs, Deutsche Bank, Telephone and Telegraph Group, Comcast Group, etc. hold icq equity.

, they all promised Immelt not to sell stocks before, but today they all sold off icq shares like crazy.

He moved his dry throat and made an unconscious sound. Little Edgar Bronfman closed his eyes in pain. For him now, it was not a question of whether to sell the icq equity, but whether to run away.

problem.

At this moment, the office door was pushed open, and Edgar Bronfman Jr. saw his father. Old Bronfman actually appeared at the office door, followed by a group of bulky bodyguards.

"Clear the icq equity immediately, no matter what method you use!"

Old Bronfman said directly to Little Edgar Bronfman, without any intention of waiting for his response. He gestured, and several people behind him went straight up to "help" Little Edgar deal with it.

"Why..." Little Edgar Bronfman was still a little unwilling.

Old Bronfman looked at little Edgar, even though he was full of disappointment, he still shook his head, "An "old buddy" told me that Enron also has problems!"

As a powerful figure of Jewish origin, Old Bronfman had extremely well-connected information and contacts. He hurried over this time and forced Little Edgar to clear his stock and surrender. It was also because he received the news that Enron was also in trouble. Internet, telecommunications

The industry is basically over, and Nasdaq has completely collapsed. If it doesn't run away, the Bronfman family will probably be doomed as well.

When little Edgar heard the news, even though he thought his mental endurance was strong enough, he couldn't help the urge to curse after hearing the news. He thought he had seen through the big shots like America, but in the end he found out

, I still underestimated the bottom line of this group of people...

"Enron Vice President Sharon Watkins officially exposed the inside story of Enron's financial fraud!"

The media and investors who were still talking about WorldCom suddenly received news that shocked the world. The energy giant Enron was suddenly criticized.

The news was so sudden that Wall Street was caught off guard. After Enron, a lot of American giants were exposed to financial scandals, including Adelphia, America International Group, Tyco Group,

Quest Communications and more.

It’s hard to say whether these news are true or false, but the Nasdaq couldn’t bear it anymore. The Nasdaq index, which Wall Street analysts believed could no longer fall, directly performed a split and cut in half, taking advantage of the trend.

Directly fell below 3,000 points...

Colin Macmillan, who had just joined icq for a month and had not yet completed his internship, was walking on the main road in San Jose holding a cardboard box containing his personal belongings in a daze. The scene that was previously bustling with traffic was now deserted.

Those high-end restaurants that were packed with seats before and where it was impossible to grab a seat are now empty, and even have signs indicating that they are closed or transferred...

Colin Macmillan thought that there would be such a day. After all, a large number of Internet companies such as the pet product e-commerce platform Pest website, the food platform Webvan website, the flower website Flowers, the shoe and clothing website Zappos, etc., have been wiped out by the group and closed down.

, there are a lot of bankruptcies, half-dead ones and layoffs.

icq is quite particular. Although the president of the company who took office less than three months ago has already cashed out and ran away, making the whole icq a mess, it still paid full wages to those who resigned, including Colin Macmillan.

The compensation, Colin Macmillan heard, was awarded at Song Yang's strong request.

Just walking on the street, seeing many people holding cardboard boxes like him, Colin Macmillan suddenly felt a chill. He did not expect that this day would come so quickly!
Chapter completed!