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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internet and worldcom inc. - All News and Analysis
Wells Fargo profit up 12 percent
- 2004-07-21
Wells Fargo & Co.'s second-quarter earnings rose more than 12 percent due to broad-based growth in revenue and improving credit quality. The nation's fifth-largest bank by assets Tuesday reported second-quarter net income of $1.71 billion, or $1 a share, up from $1.53 billion, or 90 cents a share, in the...
U.S. STATE DEPT AWARDS WORLDCOM 10-YEAR GLOBAL TELECOM CONTRACT.
- 2002-12-20
(Full text of a statement. Contact details below.) CLINTON, Miss., Dec. 19 /PRNewswire-FirstCall/ -- WorldCom to Provide Domestic and International Data Communications Services Under SPECTRUM Agreement, Valued Up to $360 Million WorldCom WCOEQ, the leading global business data and Internet communications provider, today announced that...
Impossible choice
- 2002-08-19
In June 2002, network managers and IT chiefs from across Europe gathered in a Stockholm hotel to discuss the imminent fall of KPNQwest, the latest telecommunications carrier to be buried under an avalanche of debt. As users debated the implications of a sudden loss of service, one industry executive stood...
Remotos, los fraudes en corporativos: en México, consideran analistas financieros
- 2002-08-14
La posibilidad de que en México ocurran fraudes empresariales, como los que se han registrado este año en los grandes corporativos estadunidenses es remota, consideran analistas financieros. Empero--aclaran--, la economía de nuestro país no está exenta de enfrentar problemas derivados de la administración empresarial. Recientemente, el diario El...
Impossible choice
- 2002-08-10
In June 2002, network managers and IT chiefs from across Europe gathered in a Stockholm hotel to discuss the imminent fall of KPNQwest, the latest telecommunications carrier to be buried under an avalanche of debt. As users debated the implications of a sudden loss of service, one industry executive stood...
AT&T Executive Disputes WorldCom's Claim Concerning Internet Traffic.
- 2002-08-02
By Vikas Bajaj, The Dallas Morning News Knight Ridder/Tribune Business News By Vikas Bajaj, The Dallas Morning News Knight Ridder/Tribune Business News
Keynote reports no loss of Internet performance with WorldCom bankruptcy
- 2002-07-29
CORPORATE IT UPDATE-C1995-2002 M2 COMMUNICATIONS LTD
WorldCom Bankruptcy Not Affecting Internet Performance So Far, According to Keynote; Leading Internet Performance Index Remains Steady
- 2002-07-25
Business Editors/High-Tech Writers
The power of WorldCom's puff; Internet traffic.(Internet traffic overstated)(Brief Article)
- 2002-07-20
Exaggerated figures for Internet traffic inflated the telecoms bubble Exaggerated figures for Internet traffic inflated the telecoms bubble
Nasdaq scheduled resumption in WorldCom-MCI Group and MCI WorldCom Series A Preferred.
- 2002-07-01
RDATE:07012002 New York, N.Y. -- The Nasdaq Stock Market announced today that the trading in WorldCom, Inc.-MCI Group (NASDAQ:MCITE) and MCI WorldCom Series A 8 Cumulative Quarterly Income Preferred Securities (NASDAQ: MCICE) is scheduled to resume today at 11:00 a.m., Eastern...
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