BNET Industries
- Private
- US
Dow Jones Description
Located in Clinton, MS. WorldCom is one of the world's largest telecommunications companies with 20 million consumer customers, thousands of corporate clients and 80,000 employees. MCI refers to its long distance service. It also owns UUNet, controlling the wires that Internet service providers use as superhighways to carry Internet traffic between cities and across continents. Even before the recent accounting disclosures, by 2001, WorldCom was already going through financial turmoil due to large debt and declining rates and revenue. Growth in the telecommunications industry was slowing and the company had too much network capacity. The company was deep in debt from an ambitious buying spree. There were also the controversial $408 million loans to CEO Bernie Ebbers to cover his margin calls on loans secured by company stock.
Peer Companies
NAICS Code Wired Telecommunications Carriers: 517110
News & Analysis
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agreement and worldcom inc. - All News and Analysis
JPMorgan Chase Reaches Agreement to Settle WorldCom Class Action Litigation
- 2005-03-16
NEW YORK -- JPMorgan Chase & Co. (NYSE: JPM) announced today that it has reached an agreement in principle to settle class action litigation entitled In re WorldCom, Inc. Securities Litigation brought on behalf of purchasers of WorldCom securities. The lawsuit is pending in the United States District Court for...
Jury Selection Begins in Suit Involving H&R Block Unit, AOL.
- 2002-10-08
By Gene Meyer, The Kansas City Star, Mo. Knight Ridder/Tribune Business News Oct. 8--KANSAS CITY, MO.--Jury selection began Monday in a $90 million breach-of-contract lawsuit that an H&R Block Inc. subsidiary filed in Kansas City against America Online Inc. ...
DIRECTV Broadband and WorldCom announce agreement to expand high-speed internet service nationwide. (New Networks).(Brief Article)
- 2002-05-01
DIRECTV Broadband announced that it has entered into an agreement with WorldCom to expand DIRECTV DSL service across the Western and mid-Western US via access to WorldCom's nationwide DSL services. DIRECTV Broadband is a unit of the Hughes Electronic DIRECTV Broadband announced that it has entered...
IBUI Subsidiary 2X Signs Agreements With WorldCom and New Edge to Launch National DSL Service
- 2002-04-26
Business Editors & Internet Writers
CyPost Corporation: NetRover Extends Agreement with WorldCom Canada as its Wholesale Internet Provider.
- 2001-11-08
VANCOUVER, BRITISH COLUMBIA, NOVEMBER 8, 2001 VANCOUVER, BRITISH COLUMBIA, NOVEMBER 8, 2001
CyPost Corporation: NetRover Extends Agreement with WorldCom Canada as its Wholesale Internet Provider
- 2001-11-08
Business Editors
Worldcom Director Makes Forward Sale Agreement
- 2001-02-19
On November 3 and November 10, WorldCom Inc. WCOM director Stiles Kellett entered into four separate forward sales agreements by which he effectively sold a combined 4 million shares. Under the agreements, Kellett received just over $53 million in exchange for the promise to deliver an as yet undetermined number...
U.S. Department of Justice Approves WorldCom-Intermedia Merger; Agreement is Key Step Toward Regulatory Approval of Transaction
- 2000-11-17
Business Editors
HyperDynamics Corporation Inks Agreements With WorldCom to Expand Integrated IT Services; HyperDynamics To Establish Tier-1 Internet-Based IT Hosting Center
- 2000-05-31
Business Editors/High-Tech Writers
Broadband Investment Group Signs Agreement to Purchase State-Of-The-Art 182,492 Sq. Ft. WorldCom Building - BIG
- 2000-05-15
Business Editors
White Papers, Webcasts, and Resources
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