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
bankruptcy and worldcom inc. - All News and Analysis
WorldCom fraud victims to receive first installment of money
- 2006-10-23
WASHINGTON -- Thousands of investors injured by WorldCom Inc.'s $11 billion accounting fraud will soon receive their share of as much as $150 million in the first installment of payments from a special fund, the Securities and Exchange Commission said Friday. WorldCom, which collapsed into bankruptcy in 2002,...
Distressed-debt market bets on smaller companies; It might take longer for investors to profit.(News)
- 2004-10-04
Byline: Liz Skinner WASHINGTON - The flood of filings for bankruptcy protection, such as those from Global Crossing Ltd. and WorldCom Inc., has subsided, leaving a market full of small to midsize companies. For distressed-debt investors, that Byline:...
Holding company seeking controlling MCI stake
- 2004-07-12
WASHINGTON AFP ? Some three months after emerging from the largest bankruptcy in US history, telecom firm MCI said Monday that holding company Leucadia National indicated it wants to buy a controlling stake in the firm. MCI, the new name for the company previously known as WorldCom, said it...
WorldCom Cleared to Emerge from Bankruptcy after Judge Approves Reorganization.
- 2003-11-02
By Allister Heath, Sunday Business, London Knight Ridder/Tribune Business News By Allister Heath, Sunday Business, London Knight Ridder/Tribune Business News
WorldCom reforms trump Sarbanes-Oxley
- 2003-11-01
* RICHARD BREEDEN, THE BANKruptcy court-appointed "corporate monitor" of MCI formerly WorldCom, filed a report with the federal bankruptcy judge handling the MCI case in late August 2003 identifying 78 reforms MCI has agreed to. But the recommendations go "well beyond WorldCom," writes Breeden, a former chairman of the Securities...
WorldCom Inc.'s Bankruptcy Plan Is Approved.
- 2003-11-01
By Jon Van, Chicago Tribune Knight Ridder/Tribune Business News By Jon Van, Chicago Tribune Knight Ridder/Tribune Business News
Court Approves WorldCom, SEC Settlement
- 2003-08-07
A bankruptcy court judge late Wednesday approved WorldCom's bid to settle its civil financial fraud case by paying $750 million in cash and stock. Judge Arthur Gonzalez of the U.S. Bankruptcy Court for the Southern District of New York signed off on the company's deal with the Securities and Exchange...
GSA Debarment Could Delay WorldCom Bankruptcy Exit
- 2003-08-05
A decision by the General Services Administration to debar WorldCom, which has changed its name to MCI [OTC: WCOEQ.PK; MCWEQ.PK], from receiving new federal government contracts could delay its emergence from bankruptcy for up to six months, an analyst told Communications Today. "I think [the GSA investigation] is an...
Monetary penalty determined in accounting fraud case
- 2003-07-18
How should market regulators and the courts respond when criminals use a public company to commit a massive fraud? "While the persons who perpetrated the fraud can be criminally prosecuted, the exposure of the fraud often creates liquidity pressures that can drive the company into bankruptcy ......
Judge To Review WorldCom, SEC Settlement
- 2003-05-21
A U.S. district judge is scheduled to review the $500 million settlement reached between WorldCom [WCOEQ.PK] and the Securities and Exchange Commission concerning the telecom company's $11 billion fraud case. The proposed deal would be the largest payment ever by a non-Wall Street firm. If the judge clears the settlement,...
White Papers, Webcasts, and Resources
- Data Protection Using Premium Features: PowerVault? MD3000 and MD3000i Dell EqualLogic Dell offers key-enabled premium features to help enhance the functionality ... Download Now
- Storage Choices For Virtual Server Environments Dell EqualLogic Server virtualization is the most substantial shift in IT so far this ... Download Now
- 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
Industry Transcripts by Seeking Alpha
-
Adobe F4Q09 (Qtr End 11/27/09) Earnings Call Transcript
on Dec 15, 2009about ADBE
-
EMCORE Corporation F4Q09 (Qtr End 09/30/09) Earnings Call Transcript
on Dec 15, 2009about EMKR
-
FactSet Research Systems Inc. F1Q10 (Qtr End 11/30/09) Earnings Call Transcript
on Dec 15, 2009about FDS
-
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
Glass Door
Technology Industry Companies
| Company | Employer Rating |
 |
|
| Microsoft | |
| Cisco Systems | |
| QUALCOMM | |
IndustryTop Rated
Presented by American Express