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
pension fund and worldcom inc. - All News and Analysis
'Opt-Out' Plaintiffs Settle With WorldCom
BNET
- 2005-10-19
Five New York City public pension funds that did not join in the $6.1 billion WorldCom class-action settlement have settled their own lawsuits for a total of $78.9 million. The pension funds lost more than $200 million on WorldCom stock and bond investments after the company, now called MCI, filed...
Thanks, Mr. Hevesi.(a class action lawsuit between Alan G. Hevesi and MCI Inc.)(Editorial)
- 2005-07-25
Pension funds, as they collect their WorldCom Inc. class-action claims, ought to remember who achieved the settlements. Alan G. Hevesi, New York state comptroller and sole trustee of the New York State Common Retirement Fund, in his relentless pursui Pension funds, as they collect their WorldCom...
Pension funds: Verizon sub likely to oversee MCI's retirement plans.(Verizon Investment Management Corp)
- 2005-02-21
Byline: Vince Calio and Christine Williamson NEW YORK - Verizon Investment Management Corp. likely will assume oversight of the $1.6 billion of pension and retirement plan assets of MCI Inc. after its parent company acquires the smaller telecommun Byline: Vince Calio and Christine...
Mistrial possible as Alabama pension fund tries to recoup WorldCom investment.
- 2004-11-19
By Bob Lowry, Montgomery Advertiser, Ala. Knight Ridder/Tribune Business News By Bob Lowry, Montgomery Advertiser, Ala. Knight Ridder/Tribune Business News
Wisconsin, Milwaukee Public Employee Pension Funds File Suit against WorldCom.
- 2002-12-04
Milwaukee Journal Sentinel Knight Ridder/Tribune Business News Milwaukee Journal Sentinel Knight Ridder/Tribune Business News
WorldCom Collapse Sparks Lawsuit over Washington State Pension Funds.
- 2002-11-05
By Martha Modeen, The News Tribune, Tacoma, Wash. Knight Ridder/Tribune Business News By Martha Modeen, The News Tribune, Tacoma, Wash. Knight Ridder/Tribune Business News
Washington State Files Lawsuit over Pension Fund Losses from WorldCom Bonds.
- 2002-11-05
By Bradley Meacham, The Seattle Times Knight Ridder/Tribune Business News By Bradley Meacham, The Seattle Times Knight Ridder/Tribune Business News
At Deadline.(multiple briefs)
- 2002-09-16
Class-action suit filed WorldCom Inc.'s 401k plan participants filed a class-action lawsuit in the U.S. District Court in New York against the plan's administrators and directors, claiming ERISA violations. Defendants include Bernard Ebbers, for Class-action suit filed WorldCom Inc.'s 401k...
MD likely to join suit over WorldCom losses
- 2002-07-02
Maryland's pension fund has taken a hit of $51.6 million from losses on investments it made in WorldCom, the No. 2 U.S. long distance carrier that was sued for fraud by the Securities and Exchange Commission last week. Now the state is poised to join a lawsuit that would...
WorldCom scandal takes toll on state's largest public pension funds
- 2002-06-28
Oklahoma's two largest public pension funds have lost about $25 million because of the WorldCom accounting scandal, officials said Thursday.
- 1
- 2
Industry Transcripts by Seeking Alpha
-
Trintech Group PLC F3Q10 (Qtr End 10/31/09) Earnings Call Transcript
on Nov 25, 2009about TTPA
-
Blue Coat Systems, Inc. Q2 2010 Earnings Call Transcript
on Nov 24, 2009about BCSI
-
QAD Inc. F3Q10 (Qtr End 31/10/09) Earnings Call Transcript
on Nov 24, 2009about QADI
-
TiVo Inc. F3Q10 (Qtr End 10/31/2009) Earnings Call Transcript
on Nov 24, 2009about TIVO
-
Brocade Communications Systems Inc. F4Q09 (Qtr End 31/10/09) Earnings Call Transcript
on Nov 24, 2009about BRCD
Glass Door
Technology Industry Companies
| Company | Employer Rating |
 |
|
| Microsoft | |
| Cisco Systems | |
| QUALCOMM | |
IndustryTop Rated
