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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fcc and worldcom inc. - All News and Analysis
State retains jurisdiction over regulation of telephone lines
- 2004-08-24
Telephone service provider Qwest Corp. has been getting its paperwork together since the 8th U.S. Circuit Court of Appeals held on Monday that a state regulatory body has the authority to determine whether Qwest must report its special access services to its competitors. The decision, affirming that of...
Tauzin Asks FCC For WorldCom Documents
- 2003-07-31
House Energy and Commerce Committee Chairman Billy Tauzin (R-LA) on Wednesday asked the Federal Communications Commission to turn over documents pertaining to actual or alleged violations by WorldCom [WCOEQ.PK] of the agency's rules. AT&T [NYSE: T], Verizon Communications [NYSE: VZ] and SBC Communications [NYSE: SBC] have all supplied information to...
Comings & Goings
- 2003-04-17
This week, WorldCom named Robert Blakely CFO ... Ericsson named Hakan Eriksson vice president and general manager for research and development ... Lightwave Solutions Inc. named D. Colin Boyd senior vice president of sales and marketing ... Former Yahoo Chairman and CEO Tim Koogle won't seek re-election to the company's...
FCC creates new rules on telephone and broadband competition. (Focus: Utilities and Communications).(promoting competition between regional Bell phone companies and rivals)
- 2003-03-31
The Federal Communications Commission FCC, has adopted new, rules it said are designed to foster competition and spur investment in local telephone and broadband Internet services. The changes new power to the states to decide whether and how to p The Federal Communications Commission FCC,...
Supreme Court Declines to Hear Long-Distance Companies' Case.
- 2003-03-25
By Kris Hudson, The Denver Post Knight Ridder/Tribune Business News Mar. 25--The U.S. Supreme Court has declined to hear the arguments of AT&T Corp., WorldCom and other phone companies in a dispute over access to Baby Bell phone lines. The...
Philippine call dispute pressures global rates.
- 2003-02-28
Feb 28, 2003 (The Asian Wall Street Journal - ABIX via COMTEX) A number of Philippine telephone companies announced in January 2003 they would lift their termination rates. Termination rates refer to the costs imposed by domestic phone carriers on their international counterparts when...
The Failure Of Good Intentions: The Worldcom Fraud And The Collapse Of American Telecommunications After Deregulation
BNET
- 2003-01-01
This paper analyzes WorldCom's fraud, bankruptcy, and the decision of its Triennial Review of mandatory unbundling. To date, policymakers and scholars have failed to recognize how those topics are interrelated. The United States has spent seven years trying to deregulate telecommunications. It also discusses administrative cost of deregulation, which has...
Apples or oranges? - For Starters
- 2002-12-01
Which long-distance company has the most reliable network? It depends on how you interpret the numbers. WorldCom in late November ran a full-page ad in the Wall Street Journal touting its leadership role in network reliability among the major three IXCs and the four RBOCs. According to WorldCom, it...
UCC Blasts WorldCom
- 2002-10-28
Byline: ANTHONY CRUPI One of the nation's largest church groups is calling on the Federal Communications Commission to deny WorldCom the mandatory licenses for its long-distance and Internet services. Declaring that "character counts" as much in the corporate world as it does in individuals, the Rev. Robert Chase,...
Church of Christ urges FCC to cancel WorldCom's licenses. (News).
- 2002-10-21
WASHINGTON -- Saying that WorldCom Inc. is unfit to hold its licenses, the Office of Communications of the United Church of Christ Inc. filed an informal objection last week to the transfer of WorldCom's licenses to the debtor-in-possession. ...
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