I’d never in my life expect too hear Darkness say “that’s pretty sus”, nor I’d expect him to have a family guy clip/meme in his video to use as an example I love it
Loved the video! Hope you can afford to upgrade the microphone quality soon! It’s not terrible but I think the video itself was really put together well and the increased quality of the microphone would put this video and the others over the top!
And you can't miss the rail connection with one of the biggies: Sprint. Formed when Southern Pacific's signal system had excess capacity due to use of Fiber, rather than old style copper.... It was named "Sprint" to imply Fast, and folk Southern Pacifc into the name.....
The name was originally an acronym for Southern Pacific Railroad Internal Networking Telephony. Edit: The name was selected via a contest when the subsidiary was shifting its focus from internal railroad operations to the commercial market and decided a rebrand was in order.
@@alexhajnal107 Yup. and implied fast... after all the competition was all on Microwave for long lines. The big problem for Sprint: since it was under their track, it only was really available near the ROW for the first several years. Having it as an alternate Long Distance backbone was great competition for AT&T
Yes, quite impressive, the fraud, the determined investigator, and the video. On a related note, you might be interested in looking in to Nick Leeson and the downfall of Barings Bank.
My husband worked at the MCI World Com data center in Napa California. When EDS bought them out one of the things that they found during the audit was people had excessive amounts of comp time. There was one guy that my husband worked with who was having an affair with a woman from HR and she had logged nearly a year of comp time for him in their payroll system. Of course it all came out during the EDS audit and they were both fired.
@@williampetry XD!!! Good response there!And after Enron and Worldcom comes PennCentral, the WORST bancruptcy in railroad history. Hopefully unsurpassable.
This was before all those thieves (except may be Madoff who was just s con man) and the reason for SOX laws... that were supposed to prevent those thieves and eventually caught them...and has made life miserable for anyone in IT or Accounting working for large companies in the US...
Once a company goes public it is required by the SEC to employ an external auditor. As of the Enrol scandal, the company cannot employ their audit form for IT consulting services (except for some very narrow exceptions). This is NOT a voluntary practice.
The Vehicle & General collapse is interesting. This is just a slow, sad, not really anyone's fault, retreat from greatness, from their glory days in the mid 60's to their collapse in 1972. Oh, and it's another insurance company. Yeah, there was a bit of a problem with UK insurance from about 1960 to 1975....😅 Edit - Someone (thank you for this, it's a great simile!) compared business crashes to the worst railway engines. This is the British Rail Class 07 of business failures.
@@HistoryintheDark I think they're equally terrible. Both in a different thing. If Worldcom is the BALDWIN RP 210, ENRON is the British Rail class 21. That's how bad they are.
Ah, "MCI" sure brings back memories... of another annoying phone company like AT&T, Sprint, and Verizon doing non stop ads about how you can save 40% on ALL phone calls which clearly can't be true otherwise everyone would sign up for it and how do you "save 40%" if that's the normal price? I sounds like that "50% off" furniture stores where everything is always 50% off which mean it's really NOT when that's the normal price!
Buuu….but our Felon overlord is fighting tyrannical gov and bastion of freedom of speech. I mean he did use the NASA tender capital to bailout Tesla Solar 😂😂
"Prepaid status"...what a great nebulous term. I dont undertand the real why though, why did these guys Meyers and Sullivan feel the need to artificially bolster the stock price? Where and why did the pressure come onto them and not others?
![Noob To Max With DRAGON REWORK In Blox Fruits [FULL MOVIE]](http://i.ytimg.com/vi/LnBMOinoOvA/mqdefault.jpg)
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Credit to the Audit team for holding their ground to get to the truth.
As the daughter of a CPA, you never want an accountant or auditor to leave you on read. It probably means you're going to jail.
That audit team is the dream team i love that she left him unanswered.
Got ‘algorithm-ed’ the Radio Shack video over the long weekend and I’ve been making my way through the rest. Went ahead and subbed, good work
Me too lol
Don LaPre was my first. 🤣🤣 Had a great time and some laughs!!
I used to work for WorldCon. I was there during the bankruptcy. What a mess.
I’d never in my life expect too hear Darkness say “that’s pretty sus”, nor I’d expect him to have a family guy clip/meme in his video to use as an example
I love it
Yep. Also 3.8 billion DOLLARS?!?!?!
You could as well restore all Y6b's with that!!!
@@ALCO-C855-fan Yep!
@@TheGs4_4449 Aren't you that S1 guy from DA?
@@ALCO-C855-fan …you mean the one on r/trainmemes? Yes
@@TheGs4_4449 I mean don't I know you from DeviantArt?
Internal team was awesome. Cooper was like hell no not on my watch. She wasn't going down.
Her book/autobio is good. Was required reading for my cost actg class.
Loved the video! Hope you can afford to upgrade the microphone quality soon! It’s not terrible but I think the video itself was really put together well and the increased quality of the microphone would put this video and the others over the top!
Towards the end of that corp drama, I caught them double billing me.
And you can't miss the rail connection with one of the biggies: Sprint. Formed when Southern Pacific's signal system had excess capacity due to use of Fiber, rather than old style copper.... It was named "Sprint" to imply Fast, and folk Southern Pacifc into the name.....
The name was originally an acronym for Southern Pacific Railroad Internal Networking Telephony.
Edit: The name was selected via a contest when the subsidiary was shifting its focus from internal railroad operations to the commercial market and decided a rebrand was in order.
@@alexhajnal107 Yup. and implied fast... after all the competition was all on Microwave for long lines. The big problem for Sprint: since it was under their track, it only was really available near the ROW for the first several years. Having it as an alternate Long Distance backbone was great competition for AT&T
@@alexhajnal107 Or was that a backronym?
@@RT-qd8yl AFAIK it wasn't a backronym.
My dad had an outsized hand implementing all that fiber.
You should do an analysis of Global Crossing & Gary Winnick.
I had the displeasure of being a cog in that machine.
Enron, Worldcom, Qwest, Global Crossing, Dynegy, Tellium.
Great work Darkness. Glad to hear the Audit team held their ground and brought the wrong-doing to light.
Yes, quite impressive, the fraud, the determined investigator, and the video.
On a related note, you might be interested in looking in to Nick Leeson and the downfall of Barings Bank.
My husband worked at the MCI World Com data center in Napa California. When EDS bought them out one of the things that they found during the audit was people had excessive amounts of comp time. There was one guy that my husband worked with who was having an affair with a woman from HR and she had logged nearly a year of comp time for him in their payroll system. Of course it all came out during the EDS audit and they were both fired.
Founded in 1985. Like ENRON. What a curse...
Same year I was founded (born). Curse indeed, can confirm
@@williampetry XD!!! Good response there!And after Enron and Worldcom comes PennCentral, the WORST bancruptcy in railroad history. Hopefully unsurpassable.
"Stop it, get some help."
Wow really digging this channel 🔥 great vids 💯. You got a new fan for sure 😊
The prepaid capacity was writing off of income from long distance packages as a cost, but they also captured it as income.
3.8 billion DOLLARS?!?!?!
You could as well restore all Y6b's with that!!!
James Garner, I remember him pitching for MCI back in the day. ahh nostalgia.
You can fix the awful audio quality by spending more then $40 on a mic. This sounds like you recorded it into a phone’s memo app
Castle Bank & Trust in the Bahamas was the classic offshore bank account scam, losing many people - including noteworthy celebrities - a lot of money.
Darkness you've done Penn Central, Enron, Blockbuster now WorldCom what about PanAm
Good for Kim Ami, for not wanting to committ fraud and escaping that mess
I knew a lot of good people who worked for worldcom, who didn't deserve this.
Nice! But this barely makes the top 10 business frauds in US history. How about
FTX
Theranos
Ivan Boesky
Bernie Madoff
Wells Fargo
This was before all those thieves (except may be Madoff who was just s con man) and the reason for SOX laws...
that were supposed to prevent those thieves and eventually caught them...and has made life miserable for anyone in IT or Accounting working for large companies in the US...
The guy will probably get there eventually. I shudder to think about understanding all the documents in the bankruptcy. There's quite a lot of them.
@@JamesAllmondbut like I tell me team, us accountants will always have a job 😂
The math didn't math.
Once a company goes public it is required by the SEC to employ an external auditor. As of the Enrol scandal, the company cannot employ their audit form for IT consulting services (except for some very narrow exceptions). This is NOT a voluntary practice.
"and that was weird and not normal" idk why but that line made me laugh.
Billions of dollars in fraud and some of them only did a year in jail. I know guys that got more for a joint. It’s ridiculous.
You just appeared in my feed, first time, but the sound quality is grating. I wish you had a better microphone!
Decades later FTX would pull a similar fraud.
17:01 Profit Margin is expressed as a percentage, not a dollar amount.
I knew people who worked for Worldcom. They were completely blindsided.
Still bingeing trains and companies from Canberra. Cheers.🇦🇺
The Vehicle & General collapse is interesting. This is just a slow, sad, not really anyone's fault, retreat from greatness, from their glory days in the mid 60's to their collapse in 1972. Oh, and it's another insurance company. Yeah, there was a bit of a problem with UK insurance from about 1960 to 1975....😅
Edit - Someone (thank you for this, it's a great simile!) compared business crashes to the worst railway engines.
This is the British Rail Class 07 of business failures.
Darkness, who would you personally say is worse? ENRON ir Worldcom?
Worldcom had more money involved, but Enron had been corrupt for longer so... Pick your poison.
@@HistoryintheDark I think they're equally terrible. Both in a different thing. If Worldcom is the BALDWIN RP 210, ENRON is the British Rail class 21. That's how bad they are.
Deregulation of utilities really led to a mess there.
@@dcooper1535 And the upper hands becoming scammers.
@@HistoryintheDark Good word. They're both poison. The Baldwin RP 210 and Beitish Rail class 21 of the stock market.
This was entertaining. Not really proper to be gladdened by others wrong doing, but I can't help it. 😁
I thought KPMG was a radio station
No thats WKRP :)
I love Cooper..she did not trust ANYONE above her!!
Thats a good edict to follow in big business. :)
Impressive
Ah, "MCI" sure brings back memories... of another annoying phone company like AT&T, Sprint, and Verizon doing non stop ads about how you can save 40% on ALL phone calls which clearly can't be true otherwise everyone would sign up for it and how do you "save 40%" if that's the normal price? I sounds like that "50% off" furniture stores where everything is always 50% off which mean it's really NOT when that's the normal price!
The old Worldcom building is still standing in Jackson today though far as i know no one owns it.
All property is owned. Your state owns it. I don't even live there and know more than you.
@@Katchi_ what do you want a medal?
Ahhh long distance phone calls.. I’m old
I had a good friend lose tens of thousands of dollars in stck price due to the cooking of the books. 😢
Bro get that tattooist’s license revoked😭😭😭
This was good history
I still have 400 shares of their stock. Anyone want to buy it!LOL
Are you Vauce 2 ?
The auditors got themselves fired haha.
Good information, but IMO, he adds a bit too much opinion.
This is the future for a company that rhymes with “Besla”
Buuu….but our Felon overlord is fighting tyrannical gov and bastion of freedom of speech. I mean he did use the NASA tender capital to bailout Tesla Solar 😂😂
It is going to be very very messy when it occurs.
Not now that EM threw in with Trump and Trump won. If we’re lucky, maybe we’ll find out the true extent sometime after 2028…
You and chips…
nimeskia Kim Wamae..i.o.nm UUCI Kenya
To say that MCI WORLDCOM was not as well known as ENRON is totally preposterous.
It’s not because of numbness to Enron happening before and being very high profile involving both Enron and Arthur Anderson.
It’s not. I’ve heard of Enron for many years but I have just heard about worldcom. I didn’t even know there was a company called worldcom.
Hilarious 😂
They stole money like any black criminal. Billions of it. Yet they get a year in prison. 😂
"Prepaid status"...what a great nebulous term. I dont undertand the real why though, why did these guys Meyers and Sullivan feel the need to artificially bolster the stock price? Where and why did the pressure come onto them and not others?