Hints and tips:
...The lesson for today’s investors is more than WorldCom’s fraud, however....
...The market boomed at the turn of the century, when companies including WorldCom, Global Crossing and Cable & Wireless spent billions of dollars building networks that were barely used....
...The commission’s action will tilt the scales in favour of company management and degrade the important gains in corporate governance achieved since the days of Enron, WorldCom, and the financial crisis....
...It narrowly avoided bankruptcy, as others including Global Crossing and MCI WorldCom imploded, and positioned itself to deliver on its original promise to provide the pipes for burgeoning data demand....
...The WorldCom bid alone added $8 billion to mci’s value in a single day. ….But Lipin’s never-to-be-equaled run was part of a much larger wave, a transformation in business news itself....
...“The Iranian government has a clear vision in terms of broadband and information communications technology investment,” he said....
...Two big M&A transactions were torpedoed under Bill Clinton: the $12bn takeover of military supplier Northrop Grumman by its larger rival Lockheed Martin, and MCI WorldCom’s $125bn bid for Sprint, the mobile...
...become tantamount to expensive luxury goods. ——————— *Before the e-commerce construction was a thing, the dot+com thing was a thing, brought down in popularity by the dotcom crash and disasters like Worldcom...
...It has brought back memories of a “golden age” of jumbo bond deals by telecoms companies, when debt offerings by the likes of France Telecom, BT and WorldCom routinely topped the $10bn mark....
...WorldCom was worth $180bn before wiping out shareholders in bankruptcy, but it was making up numbers rather than destroying real wealth with operational mistakes....
...Mr Ben-Artzi has brought his legal action under the Sarbanes Oxley law, which was passed after the scandals at Enron and WorldCom to provide anti-retaliation protection for employees bringing allegations...
...In recent high-profile white-collar crime trials the defendants who did testify, including Bernard Ebbers, the former head of WorldCom, were convicted....
...City grandee, Mr Griffith-Jones has worked at KPMG since 1975 and played a key role in steering the firm through the regulatory changes that were imposed in the early 2000s after the collapse of Enron and WorldCom...
...firm has been involved in some of the biggest corporate restructuring cases globally, including the Chapter 11 filings of General Motors, Lyondell Chemical, General Growth Properties, Kmart, Enron and WorldCom...
...That concern was highlighted by Egan-Jones, which sports quite a pedigree, having sounded the alarm on Enron and WorldCom....
...In the early 2000s, for example, the US sent the former chief executives of WorldCom, Enron, Tyco and Adelphia to prison and secured billions of dollars in penalties from banks, mutual fund companies and...
...In 2002 he joined AT&T just after the WorldCom scandal erupted, sending the US telecommunications industry into a tailspin....
...The energy company’s bankruptcy was followed in quick succession by revelations of fraud at Tyco, Adelphia Communications, WorldCom and HealthSouth and a dozen Wall Street banks were hit with allegations...
...Goldman’s shares fell late on Monday after Reuters reported that Mr Blankfein had hired Reid Weingarten, a Washington-based partner of Steptoe & Johnson, whose past clients have included WorldCom’s former...
...The prosecutors said he represented “the worst” of insider trading and deserved a sentence akin to those convicted of other frauds, such as the 25-year term Bernie Ebbers, the former WorldCom chief executive...
...The picture, upon closer inspection, is a digital mosaic made up of tiny, rectangular company logos, each one representing a corporate scandal of the past decade: Enron, WorldCom, Tyco, and Rite Aid, among...
...In his 2007 book The Age of Turbulence, after examining the Enron and WorldCom scandals, Alan Greenspan wrote that “given the shareholder-management divide, the autocratic-CEO paradigm appears to be the...
...Nine years ago, when he was chief executive of Sprint, Bill Esrey told me how he and his team had strained to match WorldCom’s impressive quarter-on-quarter profit growth....
...But Asian companies do not have a monopoly of poor corporate governance: think of Bernard Ebbers, the former WorldCom chief executive sentenced to 25 years in prison in the US for his role in an $11bn fraud...
...Under the Sarbanes-Oxley Act – passed in 2002 after the Enron and WorldCom scandals – corporate officers have to disclose, among other things, “all significant deficiencies in the design or the operation...
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