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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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
SCANDAL MONGER
- 2005-02-27
SCANDALMONGER believes that there should be transparency in business. . . particularly the glass business. But unfortunately this would appear to be somewhat lacking among some leading glass manufacturers. The European Union's competition regulator raided the offices of glassmakers in six countries at the end of...
MCI Wins NOAA Contact
- 2003-05-22
MCI, the long-distance subsidiary of bankrupt WorldCom [WCOEQ.PK], won a seven-year contract to provide high-speed satellite data communications to the National Oceanic & Atmospheric Administration NOAA. The company expects its Very Small Aperture Terminal VSAT service to enable NOAA to quickly and easily father and distribute millions of bits of...
After WorldCom : How Much Consolidation Can U.S. Telecom Regulators Permit?
BNET
- 2003-05-15
The article explains how much industry consolidation can telecom regulators permit without significantly impairing competition? It recognize that regulators will judge any merger based upon the relevant facts but, in general, it suspect the answer may prove to be "more than you might think," -- especially if the "failing firm"...
After WorldCom: How Much Consolidation Can U.S. Telecom Regulators Permit?
BNET
- 2003-05-15
WorldCom's recent bankruptcy has likely set the stage for a new round of telecom industry mergers that will test the long-standing competition policies of U.S. regulators. As Federal Communications Commission FCC told Congress that It is difficult to imagine the industry stabilizing without some modest and prudent restructuring. With new...
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...
New Tel: the ever bending stories.
- 2002-12-03
Dec 03, 2002 (The Australian - ABIX via COMTEX) Deloitte Touche Tohmatsu CEO, Domenic Martino, severed all business relationships with Peter Malone, New Tel's CEO, on 22 February 2002. The pair share directorships in more than 40 companies. It is said this was done...
Business Briefs
- 2002-11-16
Media outlets swap stations Two Midwest media outlets on Thursday announced they had swapped a pair of radio stations in central and western Kansas. Omaha, Neb.-based Waitt Media traded KDGB-FM in Pratt for Dodge City's KBGU-FM, which is owned by Eagle Radio Group in...
Citgroup clashes with Grubman over 'fantasy' emails.
- 2002-11-13
Byline: Shanny Basar Citigroup may come to regret agreeing to pay future legal expenses of Jack Grubman, its former star telecoms analyst, in the US Congress investigation into WorldCom, as the bank has branded some of his e-mails "pure fantasy".Grubman alleged in an e-mail...
Tennessee Telephone Market More Complex after Deregulation.
- 2002-10-20
By Larisa Brass, The Knoxville News-Sentinel, Tenn. Knight Ridder/Tribune Business News Oct. 20--What happened to the days when a few miles of wire and a friendly ring were all that lay between you and sweet Aunt Betty's voice at the other end? ...
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