Word: carrier
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Dates: during 1990-1999
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...they ever. Just ask MCI. In a bid that would mark the biggest corporate buyout in U.S. history, the country boy from Canada by way of Mississippi last week offered $30 billion in WorldCom stock for MCI, the country's second largest long-distance carrier and a company four times the size of WorldCom. The bid demolished British Telecommunication's $18.7 billion offer for MCI just as the two phone giants were preparing to seal their transatlantic deal. It also shattered BT's plan to make the MCI merger the focus of its global strategy, a consequence that didn...
...Ebbers and some partners scratched out on a napkin a plan for a phone company that would resell WATS long-distance service to local businesses. The name for the company--Long Distance Discount Services--supposedly came from a helpful waitress. "The only experience Bernie had operating a long-distance carrier was that he used the phone," recalls an investor in the original enterprise, which changed its name to WorldCom...
WorldCom's muscular stock has become Ebbers' checkbook. He paid $2.5 billion in 1995 for a company called WilTel and its 11,000-mile network of fiber-optic cable, making WorldCom the fourth largest U.S. long-distance carrier. But he soon found himself tossing and turning at night because he had little in the way of local service to sell. So while driving to work on Aug. 12, 1996, he dialed up James Crowe, chairman of a local-service provider called MFS Communications, to propose a deal. By the time Ebbers hung up, he was ready to shell...
...aircraft carrier will rush to the Gulf following an Iranian airstrike inside Iraq (TIME Daily...
While the Pentagon announced Friday it had moved forward by a week the deployment of the aircraft carrier Nimitz in the Persian Gulf, TIME Pentagon correspondent Mark Thompson believes the move is primarily a publicity exercise. The move came after the Monday attack by Iranian warplanes on exiled rebel bases inside Iraq, which violated the U. no-fly zone. But, says Thompson, ?these cross border spats have been going on since the Iran-Iraq war ended in 1988.? Although rushing the Nimitz to the region makes clear that the no-fly zone will be enforced, ?it?s mostly...