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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strategy and worldcom inc. - All News and Analysis
Why BSers Get Ahead
BNET
- 2009-03-05
BSers get ahead. It's a fact of business life. They accept responsibility regardless of whether they know what they're doing or not. Here's how it works, the downside of being a BSer, and ten common characteristics to help you recognize them. by Steve Tobak
Lessons from the Mega-Mergers
BNET
- 2007-09-07
These high-profile corporate mergers are excellent case studies for anyone considering a potential acquisition. Hewlett-Packard and Compaq Date:...
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 ...
Out of the ashes; American telecoms.(Who will win the endgame in telecoms?)(Brief Article)
- 2002-10-12
If only fixing the industry was so easy The endgame in the troubled telecoms industry is becoming clearer IT TAKES a brave man to invest $30m in America's torched telecoms industry. But Wilbur Ross is doing it. It takes an even braver ...
Corporate campus advantage: once a symbol of power, authority and stability, the high-profile downtown high-rise has morphed into a sprawling urban or suburban campus.(Statistical Data Included)
- 2002-09-01
As more and more corporate campuses dot the landscape across the United States, it seems clear that, at least for the time being, the high-rise headquarters building has gone the way of the suit and tie in corporate America. Once a symbol of power, authority and stability,...
Auto Firms May Skirt Accounting Scandal.
- 2002-08-07
By Jeffrey McCracken, Detroit Free Press Knight Ridder/Tribune Business News Aug. 7--TRAVERSE CITY, Mich.--The multibillion-dollar accounting scandals that have plagued corporate America and hammered the stock market to ever-lower levels shouldn't happen in the auto industry, say top executives of the largest automakers...
Stressing out over distressed debt: despite meltdown, hedge fund managers still betting on rebound.
- 2002-07-22
Though WorldCom's recent meltdown may have singed the distressed-debt market, hedge fund managers insist it's still a good time to be investing in below-investment-grade bonds. With few exceptions they say they are continuing to allocate reco Though WorldCom's...
$30 Billion Debt Could Give Pause to Hungry WorldCom Suitors.
- 2002-07-16
By Sanford Nowlin, San Antonio Express-News Knight Ridder/Tribune Business News Jul. 16--With a customer base of millions and assets spread across the telecommunications industry, troubled WorldCom Inc. may be a prize for the picking. And the Federal Communications Commission's chairman has...
Bells To Pass On FCC Powell's WorldCom Plea
- 2002-07-16
Federal Communications Commission Chairman Michael Powell's suggestion that his agency could allow a Regional Bell Operating Company to take over WorldCom will probably go unanswered by the Bells, an analyst told Communications Today. In a published interview earlier this week, Powell said the telecom industry's battered, debt-ridden condition leaves...
Sprint Eyeing WorldCom Contract
- 2002-07-10
Sprint [FON] has asked the U.S. Department of Defense to overturn its decision to award WorldCom [WCOM] a 10-year, $450 million contract because of the company's financial scandal, industry sources said. In April, the DoD awarded WorldCom the contract to provide the agency with network and associated services for...
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