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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marketing and worldcom inc. - All News and Analysis
BUSINESs BRIEFS
- 2006-07-29
Former WorldCom CEO's verdict stands NEW YORK - A federal appeals court on Friday upheld the conviction of former WorldCom Inc. chief executive officer Bernard Ebbers on charges related to a multibillion-dollar accounting fraud. The ruling by the three-judge panel of the 2nd U.S. Circuit...
Preventing Organizational Ethical Collapse
- 2004-04-01
As the corporate scandals of the m past two years have unfolded, wem shook our heads at WorldCom's $9m billion capitalization of ordinary expenses, Enron's 3,000 off-thebook entities, and HealthSouth's financials spun from whole cloth and wondered, "What were they thinking when they made these choices and decisions?"We in the...
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...
Evening Standard, London, Business Briefs Column.
- 2003-09-25
Evening Standard, London Knight Ridder/Tribune Business News Sep. 25--BURDENED BY A $400M DEBT: Bernie Ebbers, the tall, bearded cowboy-boot-clad former telecoms boss, is scheduled to appear in court in Oklahoma in October. He is facing 15 criminal charges, including fraud, and ...
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...
Long-Distance Carriers Get No Credit from Bells.
- 2002-08-03
By Kathy Brister, The Atlanta Journal-Constitution Knight Ridder/Tribune Business News Aug. 3--BellSouth, Verizon and SBC Communications want advance payments before connecting phone calls for long-distance carriers. SBC said Friday it will ask the Federal Communications Commission for permission to...
Wireless and the summertime blues. (Opinion).(Column)
- 2002-06-10
If there ever was a time that proves there's nothing new under the sun, this summer--with its own climatic and financial drought conditions--is it. The real question is whether anyone who is trying to do business in wireless realizes it. On...
For sale, a line of $1.2bn News prefs - 9pc off!
- 2002-02-26
Feb 22, 2002 The Sydney Morning Herald ABIX via COMTEX -- US telco, Worldcom MCI, is looking to sell $A1.2bn worth of preference shares in media group, News Corporation. On 21 February 2002, brokers JP Morgan, Salomon Smith Barney, Goldman Sachs and Deutsche Bank,...
Remember wireless cable? (capital currents).(Multichannel Multipoint Distribution Service )(Brief Article)
- 2001-12-01
You remember wireless cable, right? Well, after the last couple of years of FCC decisions, and particularly the September 2001 bequest of mobile authority, you wouldn't know it anymore. Wireless cable, formally known as Multichannel Multipoint Distribution Service MMDS, occupies the frequencies between 2500 and 2690...
WorldCom, TSC, and Orsus Host Executive Seminar; ``Mobilizing Your Business'' Seminar Features Guest Speaker from Meta Group
- 2001-05-22
Business Editors/High-Tech Writers MOUNTAIN VIEW, Calif.--BUSINESS WIRE--May 22, 2001 Orsus Solutions, WorldCom, and TSC today announced that they will be hosting an executive seminar for business and technology professionals featuring the Meta Group. Called "Mobilizing Your Business," the free morning seminar will address the massive impact that mobile...
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