Word: mci
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...back in 1998 when the economy still was new, WorldCom CEO Bernie Ebbers was clinching his acquisition of long-distance giant MCI, and the Rev. Jesse Jackson had a bone to pick with him. Speaking at Tougaloo College--a cradle of the civil rights movement located near Clinton, Miss., where WorldCom is headquartered--Jackson rhetorically asked his audience why Ebbers could afford $37 billion for MCI but hadn't donated funds to local black students. Ebbers wasn't present, but LeRoy Walker Jr., a leading black businessman and Tougaloo board member, pulled Jackson aside to set him straight: Ebbers...
...Securities and Exchange Commission probe into the more than $400 million that WorldCom recently loaned or guaranteed to loan to Ebbers at a charitable 2.15% interest rate. Many disgruntled WorldCom execs were hoping that the new CEO, John Sidgmore, would run the company not from Clinton but from the MCI division offices in Ashburn...
...America's largest corporations as customers for its vast voice and data network and, after buying IDB, grandly renamed itself WorldCom. It then acquired UUNET, one of the world's largest Internet hookup firms, along with AOL's Internet networking division. Ebbers then brashly outbid British Telecom to grab MCI, using as currency his WorldCom stock, whose value skyrocketed 7,000% during the 1990s...
...hobbyist telescope manufacturers who competed in a market totaling a few million dollars in sales per year. Retrospectively, it’s unclear what benefit, if any, the public received from these blocked mergers since most mergers of large, competing companies fail. For proof, look at the fates of MCI Worldcom and AOL Time Warner, two companies whose plans for world domination through merger have failed of late. AOL just recorded the largest quarterly loss—$54 billion—in corporate history, and Worldcom’s CEO Bernie Ebbers has just resigned under pressure from his board...
...star of his own TV sitcom. these days he's making a comeback as the star of TV ads for MCI. But Alf isn't the only puppet for adults that is garnering attention. Triumph the Insult Comic Dog performs this week at New York City's Irving Plaza--a prelude to a comedy album of "dirty doggie songs." Next up: Crank Yankers, a raunchy puppet show from Comedy Central. The appeal? "Puppets can get away with a lot of nonsense live actors can't," says Triumph creator Robert Smigel. A few to watch...