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
Filter by
bank and worldcom inc. - All News and Analysis
Bank sues own captive over WorldCom claim.
- 2005-09-05
Byline: DOUGLAS McLEOD PROVIDENCE, R.I.-Bank of America Corp. has filed bad-faith charges against its own Vermont-based captive insurer and units of Chubb Corp. for their alleged refusal to cover more than $24 million of the bank's $460.5 million Byline: DOUGLAS McLEOD ...
JPMorgan OKs $2 billion deal on WorldCom
- 2005-03-17
NEW YORK -- JPMorgan Chase & Co., the nation's second largest financial institution, agreed on Wednesday to pay $2 billion to settle claims from investors who lost money in the collapse of WorldCom Inc. It was the last major bank to reach a settlement in the class action...
J.P. Morgan settles WorldCom claims for $2 billion
- 2005-03-17
NEW YORK -- J.P. Morgan Chase agreed Wednesday to pay $2 billion to settle claims of thousands of investors who lost money in the collapse of WorldCom, becoming the last major bank to reach a deal. The surprise announcement by New York Comptroller Alan Hevesi, the court-appointed lead plaintiff...
Four foreign banks settle WorldCom suit for 428 million dollars
- 2005-03-10
NEW YORK AFP — Two European and two Japanese financial firms agreed to pay a total of 428 million dollars to settle end a class action lawsuit alleging they misled investors who bought bonds from WorldCom. ABN Amro, BNP Paribas, Mitsubishi Securities and Mizuho International agreed to the settlement...
Why the bubble popped.(stock market crash)(Bibliography)
- 2004-05-03
This clutch of books offers an excellent retrospective on the recent stock-market crash, which wiped out $8.5 trillion in market value. The value of individual retirement accounts dropped by one-third, and in just twelve months, 2 million Americans lost their jobs. But the lessons...
Evening Standard, London, Anthony Hilton Column.
- 2004-03-31
By Anthony Hilton, Evening Standard, London Knight Ridder/Tribune Business News Mar. 31--HOW FRANKFURT HAS STOLEN A MARCH: The German economy may be struggling to get out of trouble but Deutsche Brse, the Frankfurt-based operator of exchanges and clearing and settlement systems,...
Banks reject criticism of rating agencies.
- 2004-01-13
Credit ratings agencies, pilloried for their failure to provide advance warning of problems at Parmalat, Enron and WorldCom, might take heart from two new developments.The European Banking Federation FBE, representing 4,000 banks, has rejected a European Parliament report calling for tighter regulation of the agencies and...
Milberg Weiss Announces Class Action Lawsuit Against WorldCom Investment Banks
- 2003-03-21
Business Editors/Financial Analysts
Milberg Weiss Announces Lawsuit Against WorldCom Investment Banks
- 2003-03-21
Business Editors/Financial Analysts
Banks seek S&P's help to recognize worthy loans. (Business).
- 2002-12-09
NEW YORK -- Commercial banks, which many companies hope will provide alternatives to stock, bond and vendor financing of capital requirements, have started seeking help from Standard & Poor's Corp. to evaluate prospective borrowers. Sorti NEW YORK --...
White Papers, Webcasts, and Resources
- Practice Considerations for Dell/EMC CX3 FC/iSCSI Storage Systems: Best Practices Planning Dell EqualLogic This paper discusses practice considerations for planning and deploying ... Download Now
- Storage Choices For Virtual Server Environments Dell EqualLogic Server virtualization is the most substantial shift in IT so far this ... Download Now
- Enabling the Virtual Data Center: Simple, Affordable Virtualized iSCSI Storage for Microsoft Windows Server 2008 Hyper-V Environments Dell EqualLogic Virtualization has become an essential data center technology, allowing IT ... Download Now
Industry Transcripts by Seeking Alpha
-
National Semiconductor F2Q10 (Qtr End 11/30/09) Earnings Call Transcript
on Dec 10, 2009about NSM
-
White Electronic Designs Corp. F4Q09 (Qtr End 09/30/09) Earnings Call Transcript
on Dec 10, 2009about WEDC
-
IDT Corporation F1Q10 (Qtr End 10/31/09) Earnings Call Transcript
on Dec 10, 2009about IDT
-
NaviSite, Inc. F1Q10 (Qtr End 10/31/09) Earnings Call Transcript
on Dec 10, 2009about NAVI
-
Methode Electronics Inc. F2Q10 (Qtr End 31/10/09) Earnings Call Transcript
on Dec 10, 2009about MEI
Glass Door
Technology Industry Companies
| Company | Employer Rating |
 |
|
| Microsoft | |
| Cisco Systems | |
| QUALCOMM | |
IndustryTop Rated
Presented by American Express