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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worldcom inc. - All News and Analysis
Judge Will Not Sign Off on BofA, SEC Bonus Pact
BNET
- 2009-08-10
By Jonathan Stempel NEW YORK (Reuters) - A federal judge refused to approve a proposed settlement between the U.S. Securities and Exchange Commission and Bank of America Corp BAC over the payment of bonuses to Merrill Lynch & Co employees, saying he was unable to determine if it was fair...
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
A Whistleblower's story
- 2008-05-01
I still clearly remember the first time I heard Cynthia Cooper speak. It was at the Institute of Management Accountants (IMA[R]) 85th Annual Conference and Exposition in Chicago, Ill., on Monday, June 28, 2004. Cooper was the speaker at a general session, giving a presentation titled, "Our Responsibility in the...
Extraordinary Circumstances: The Journey of a Corporate Whistleblower.(bookshelf)(Book review)
- 2008-04-01
Extraordinary Circumstances: The Journey of a Corporate Whistleblower. By Cynthia Cooper. John Wiley & Sons, 402 pages. $27.95. By now, the outlines of Cynthia Cooper's story are well-known. In 2002, as head of the internal audit team at telecom giant WorldCom Inc., she...
WorldCom's whistle-blower tells her story
- 2008-02-15
Cynthia Cooper is not a politician and has never run for public office. And yet without her efforts, the Sarbanes-Oxley Act -- the most sweeping investor-protection legislation passed by Congress since the Great Depression -- might never have been enacted. Six years ago, following the collapse...
U.S. Consumers Favor Home-Grown Products, According to Worldcom Survey
- 2007-11-27
Autos and Consumer Electronics Maintain Highest Confidence Level among Foreign-Made Products
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:...
Retirement officials eye WorldCom settlement
- 2007-08-17
OKLAHOMA CITY - The Oklahoma Public Employees Retirement System Board of Trustees took action to attempt to retrieve a share of lost investments on Thursday by adopting a resolution calling on state government leaders to send the money to the agencies that originally lost it.
WORLDCOM Chair Presented to PRSA Members the Benefits of Joining a Public Relations Network
- 2007-06-20
Melissa Sturges Led Breakout Session at PRSA Counselors Academy Spring Conference
Life After Enron and Worldcom: Preparing for the New Regulatory Environment
- 2007-04-23
With the number of shareholder class action lawsuit filings continuing to decline, and in the absence of mega-cases concerning alleged corporate fraud the likes of Enron and Worldcom in the headlines these days, one would think that officers and directors of public companies could breathe easier. Yet regulatory scrutiny by...
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