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| Did Standard & Poor's Make a Mistake? by Jeremy at 5:57 am EDT, May 15, 2002 | |||
WorldCom has plenty of problems, and well-publicized ones. But does it really deserve to be exiled from the Standard & Poor's 500? So far this year, WorldCom is down 91%. S&P takes pride in not leaving companies in the index until they file for bankruptcy. S&P acknowledged that it was possible it had erred in taking out WorldCom when it was still a $4B company. "We'll know the answer in six months to a year. If then it is still around and is selling for $5 a share, we will have made a mistake." The author argues that S&P acted too early in deciding to oust WorldCom from the index. | |||
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