8/8/02
WorldCom, which recently filed for Chapter 11
bankruptcy protection has announced that an extra $3.3 billion in
earnings has been wrongly reported before interest, taxes, depreciation
and amortization. This is in addition to $3.8 million previously
overstated earnings.
8/7/02
RealNetworks announced that it will toss out 11
percent of its workforce. This amounts to 90 heads. The company
is making this move in order to concentrate on Helix, a technology
platform that offers robust content online.
8/5/02
iNTELEFILM Corporation announced today it has
filed for Chapter 11 Bankruptcy protection. This filing will allow
the company cash-flow relief as it takes on it's lengthy court battle
against ABC Radio Networks, Inc. and The Walt Disney Company in
which it there was a jury award of $9.5 million this past May.