Show A8 — The Herald Journal Logan Utah Monday July 22 2002 et takeover target although its business like that of AT&T and Sprint has been losing business to local carriers entering the market along with consumer and cell phone use of communications Some say the gobbling of WorldCom could set off a healthy Wave of mergers thinning the ranks of competitors Ironically the future playing field might revert to domination by the telecom titans of the past: AT&T and its Baby Continued (him A2 feel some relief esr WoridCom's most lucrative long-distan- business customers start looking to jump carriers “It couldn’t happen at a better time for AT&T" Willis Continued from A2 i customers have contacted AT&T on their own Connolly ' I when the Dow fetf 390 points — Utkus predicted that when the year is finally over only about 2 to 3 percent of all 401(k) assets will have been shifted out of the US stock market That means the $17 trillion tucked into contributory retirements plans — accounting for about 16 percent of US retirement investments — is acting as a sort of bedrock for the stock market How long 401(k) investors will watch their nest eggs dwindle though is unknown — andsigns of restlessness ate becoming more evident A poll released lasl week by Zogby America found that most Americans (51 percent) said they were less likely to invest in the stock market because of the recent corporate business and accounting scandals Half of investors who own 401(k) plans were also less likely to ce ail said AT&T spokeswoman Eileen Connolly said the company has been phoning WoridCom's corporate customers to assure them that it will be glad to handletheir business Some ‘ If j - Bell progeny r! ce nerve-racki- i ng Cle-lan- big-na- Cle-lan- Obituaries record-settin- Dennis Hendry Latter- - long-distan- long-distan- ce Soccer line-paint- : first-cla- ss volun-teeris- m Death notice : But-eve- et ! ‘ Com also announced that it would lay off 17000 workers or 20 percent of its global workforce Even before the hidden expenses were exposed WorldCom was struggling Its stock price traded as high as 9 But $64!30 in shares of WorldCom and other telecommunications compa-nies have slid ever since as the bubble burst and other market forces caused an industrywide inqilondn As erf Friday a WorldCom share could be had for 9 cents d Internet The infrastructure that telecom companies built — and hyped — throughout the late 1990s lost much of its value almost overnight once it became apparent there was little consumer demand for the services being offered over broadband networks The sector meanwhile has been pounded by falling rates and growing competition from local Baby Bells who have received fed-eral permission to hone in on the market car riers such as WorldCom!- - ' y MQ are also losing business as customers gravitate toward $ and cell phones mid-199- dot-co- m high-spee- so-call-ed long-djstan- ce Long-distan- ce ail Arrests Confirmed from A1 The market located at 23 W ' Main in Richmond was broken into during reportedly the hours of July 13 i or early hours of July 16 late-nig- ht $10000 worth of merchandise was reportedly Approximately stolen including miusic CDs ' alcohol and $1600 worth of tobacco The arrests also cleared up a number of auto burglaries around the valley and may have turned up evidence of crimes committed as for away as Weber County” the pen release stated Bolton was booked into die Cache County Jail an suspicion of possession of stolen felony property a possession of marijuana a class-misdemeanor possession of drug paraphernalia a class-misdemeanor three charges of burglary all class-- A misdemeanors and three of theft all class-imeanors Her bail was t t i third-degr- ee A A ' B f vi ‘ siU ’ jkjikhswere iw booked into the Cache County Jail on suspicion of burglary a felony theft a e felony three charges of burglary of a vehi-clc all class-- misdemeanors ' and three additional charges of theft all class-- b misde- meanors Wick's bail was set at $2215 Deese who was also booked into jail on a parole violation Is being held wifhoutbaiL Outright was booked into the Cache County Jail on sus- - : second-degre- : A U8 Bankruptcy Court '' Southern District of New York: httpseef nysbuacourtsgovcgl -- ! third-degr- ee On the Net: WorldCom: ce -- - 7 - The worst case scenario for said the industry is a WorldCom Sprint might also win some that sheds its debts in bankof those large customers ruptcy only to resume aggresWillis said sive competition — reducing Elsewhere WorldCom rates further in might pose a tempting an attempt to gain subscribers invest takeover target for one of the firm Vanguard And at the ihutual-fun- d said Drake Johnstone telecom four remaining Baby Bell cardie Malvern Pa in Group analyst with brokerage Davenriers especially Venzon and week of July 8 (when the Dow lost 74 & Company port SBC analysts say The carriof its value) did light up die percent “That would be a disaster’’ ers are said to be among the he said handful healthy enough to Sidgmore said the bankruptEven at pennies on the dolassets purchase the won’t include the compacy WorldCom are lar assets One hot item could be ny’s international operations going to be a tough sell WoridCom’s Internet back- The collapse of WorldCom d among telecom survivors bone unit UUNet one of the Continued from A1 follows costly scandals at said world's largest wholesalers of other companies Internet capacity UUNet is a “The only players strong serimmediate of disruption including Adelphia Communi' consolidate solid revenue earner and cru- have to enough vice to consumers or threaten cations Global Crossing and troubles of their own’’ d dal infrastructure provider the operation of WoridCom’s Enron all of which have filed said “No one’s willing analysts said Internet backbone facilities” for bankruptcy as they attempt to assume more risk and liaWoridCom’s Metropolitan Powell said to pay creditors and reorgaFiber Systems another netbility This is an Drake Johnstone a telecom nize their businesses market! There is work provider and Web site The bankruptcy would be analyst with Davenport & Co no quick fix’’ host Digex Inc could also in Richmond Va said die twice as large as Enron’s banks providing die new g filing in December and four times as money hope WorldCom will be able to emerge from Chapbig as Global Crossing's in ter 1 1 as a viable enterprise unit January WorldCom reported The infusion includes $730 He was a member of the more than $107 billion in million from Citibank NA Church of Jesus Christ of assets but its liabilities total -day JP Morgan Chase Bank and Saints where he held more than $63 billion General Electric Capital Corp many positions Among tiie creditors listed He is survived by his loving in the filing are bondholders “My concern with that scewife children and grandchilnario is it’s unclear what other JP Morgan Dust Company ' dren Alexandra Zackary which has an unsecured claim surprises WorldCom has in store!’ Johnstone said “The of $172 billion Mellon Bank Hayley and Kartey whom Dennis loved and adored N A with a claim of $66 bil(internal) audit is not comwill all miss him and At this point we don’t lion and GtiBank' with a They plete Dennis Hendry loving hus-will cherish all the many know how much revenue or claim of nearly $33 billion band father grandfather and cash flow the company has” mempries-o- f being together Sidgmore said WorldCom is friend to all who knew him We love you grandpa said the company Sidgmore cooperating with investigators returned to his Heavenly Also surviving are brothers would look into selling some to “help than find die bad Father July 20! 2002 after L (Deann) Hendry its peripheral businesses of Gary guys punish the bad guys and fighting a courageous nine- Michael L (Sandy) Hendry but not key franchises like leave the company abne” year battle from a car wreck Scott (Lori) Hendiy and sister MCI or UUNET MCI is the WorldCom admitted' June that left him with severe inter23 that it had falsely booked Dorothy R Hendry company’s one nal injuries He was preceded in death business UUNET is a major $383 billion in expenses to Dennis was bom in Logan his parents and sister Mary Internet player make it appear more profby Utah the second of six chilitable Die same day it fired ” AnnRolph Despite the bankruptcy no dren to LeonAHendry and Dennis is a child of God and immediate disruptions are chief financial officer Scott Neta McBride Hendry He milhe has called him home Has WoridCom’s for Sullivan who was later expected grew up on the lions of MG accused by company auditor given him the peace and rest family dairy farm that he’s yearned for so long Arthur Andersen Of withholdcustomers or at UUNET in WeUsyille Utah He led him guided him which accounts for 29 percent ing crucial information about and was taught how walked beside him WoridCom’s bookkeeping of the capacity on the nation’s helped to work hard at a him find the way! He took him busiest Web routes Clinton Miss based World ' vary young age This hard to his heavenly home into his work helped him achieve his arms to stay We love you “I’m just psychotic" he many successes throughout' “I like to do volunteer Denny Dad and Grandpa joked his life The family expresses love work and it gets me out doing Dennis had many accomand appreciation to Dr Steven some exercise It gives me plishments He attended Continued from A1 Louis Ibbby and time to turn off my brim and Salisbury school in Wellsville and grad- Dr LeGrand Belnap said many just enjoy being outside” uatedfrom South Cafche High fields need at good painting other devoted caregivers who With tee hat he uses for He attended Utah State Uni- three or four times a season' assisted throughout the years landscapingand acool drink versity and Weber State Col- Others like Lundstrom Park as his health deteriorated ' Arnold spends hours upon lege studying accounting demand five or six times a hours in die city’s parks Military graveside services Dennis served two years for will be held at 11 am on season from wrestling dm his country in the US Army’s It all depends on how fast one end of die field to the Tuesday July 232002 atthe 101st Airborne Division as a Wellsville City Cemetery the grass grows bow often the other paratrooper Upon returning under the direction of Bishop fields are watered and how And “wrestling” is the right he met Ids sweetheart Carol children of thousands for it Arnold speaks of word Ray Stokes Friends' and famimany Andersen and they were mar' on the fields Arnold ly may gather from 9:30 until tromp having to keep the machine ried a year later in Preston ' 10:30 am at the Wellsville from jumping swerving and said' Idaho Their marriage was Stake Center 30 S Center St! His colleagues would Call ' dipping into hidden pot holes'' later solemnized in the Logan his work The fields aren’t smooth like Wellgville LDS Temple Amold" would call it a Romney Stadium he said Dennis and Carol raised illness mental At the beginning of each three children Susan ( Lloyd) Johnson of Hyde Park Rick Dennis (Paula) Hendry of R Layton and Holly Heiidry stu- -: TREASURETON Idaho — dent at Utah State University! Ora Roholt Johnson' 86 died He retired from Hill Air 77 v'S !: 'I J' V I'' Force Base as a program manSunday July 21 2002 in the Franklin County Nursing 7 ager for the Peace Keeper Home in Preston Idaho (7 Missile He also retired from A complete obituary will the Army Reserves as the pla752-212- 1 toon sergeant with numerous appear in a future edition of the piaper with sendees under v citations awards from both - j the direction of Webb Funeral : areas and was well liked by '‘Home and military his 7 long-distan- ' switchboard as worried investors began tributions with company stock Ibis was' to shift some of their mooey out of stock the situation Enron workers found than funds and into bond fluids money-markselves in when accounts and international fluids v up Tb offret a match of company stock By last week though Vbnguatd was seeing a decline in the number “actually "employees should steer their coniribu- - A ‘— turns into noocompany investments Such j calk from its investors says i Rebecca Cohen And as a general equity fund experts say - i t the market Allocation is cnidaL a person is a i slump she adds the most radical step small investors have younger worker say in their 20s or 30s ' taken is shift their money within the they need to have most of their 40i(k) financial markets: "They are not redeemportfolio in equities to ensure growth 71 over time” says Utkus If they are IS to ing money and getting out of mutual 20 years from retirement he says they ''"j funds” shcxikl have a mix of stocks bonds cash ) Luis Fleites an analyst with Cerulli Associates a consulting firm in Boston and perhaps a guaranteed investment ! contract — a product with a fixed interest guesses it would “probably take a promarket bear another rate usually offered ty an insurance com-- i longed lasting year ' or so for investors to stop putting money ‘Ypaw into die retirement (dans” If they are okleror close to retirement For now he confirms “monthly contrif will want to have a large allocation butions continue to go into 401(k) plans of fixed inconte products as well as a and mainly into stock funds’ 'to protect their gains money-markWhite such regular contributions into then Utkuliuyi investors need "7 retirement dans eventually help offset some stocks for growth over time since market losses blindly following the same retirees now live well into their 80s' i course of action can be dangerous Finally financial experts warn Investors may miss out on me need to investors of all ages against shifting entirely out of equities By doing so they sre likely to miss die heady gains thk 7 Unbalanced portfolios often develop in usually come in the early stages of a cases when employers match worker con- - recovery become coveted assets WoridCom's MCI long-di- s tance unit might also be a Era i V binloginpl season Arnold spends several hours on each field measuring die sides mixing paint and laying out die liner He used to do it with a string and concrete form stakes but now he drags his sons onto die field and just eyeballs it Once it is done for the first time die Logan man says he can restripe it in just over an hour An adult field takes five gallons of paint diluted to 20 fields white die under-age--6 take two Though work and weather occasionally push Arnold into painting fields until “dark- thirty” be said he still enjoys die time to “g the birds fly pidon of third-degrfelony burglary and second-degre- e felony theft His bail was set 1 ee r f at $15000 Detectives are continuing to investigate (the case) and more arrests are pending” the press release stated ! 7 j ' nail -- Sop Smoking Mwfcatl—MiioeWOBV i Vs ? 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