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New York Times :: Another Slap at Democracy on Wall St :: Millions of investors rushed into the stock market in the 1990’s, believing that Wall Street was at least a fairly level playing field. Although they have since learned how illusory that notion was, the […] Read more »

New York Times :: Telecom Wreck Provides an Opening for AT&T :: WorldCom, Global Crossing and the Williams Communications Group, along with a half-dozen other providers of telecom services to business, are all in Chapter 11 bankruptcy proceedings. Many of them are also shedding customers and […] Read more »

New York Times :: Ebbers Made $11 Million on 21 Stock Offerings ::Bernard J. Ebbers, WorldCom’s former chief executive, made more than $11 million in four years on 21 hot stock offerings he received from Salomon Smith Barney, according to documents released yesterday by the House […] Read more »

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New York Times ::So finally he has been caught lying. I think it is quite evident to us that there is more to Level 3 than meets the eye. Today’s NYTimes reports that James Q. Crowe, another former WorldCom director who is chief executive of Level […] Read more »

Light Reading :: The war of words and research building between WorldCom Inc. and AT&T Corp. just got hotter. In an interview with Light Reading today, Vinton Cerf, WorldCom’s senior vice president of Internet architecture and technology, spoke out about AT&T’s claims. “They’resuffering from network envy […] Read more »

New York Times :: Gary Winnick, the billionaire chairman and founder of Global Crossing, may have helped oversee the company’s aggressive use of swapping communications capacity on its fiber optic network with other companies, according to documents obtained by a Congressional committee. Read more »

breakingviews :: So Marconi has done its deal with its creditors. And, as expected, the banks and bondholders have ended up with the lion’s share of what value is left in the former high-flying telecoms manufacturer. Not only do the creditors receive £260m of cash and […] Read more »

IndustryClick :: If you ever wanted an encapsulated account of the rise and fall of the telecom market, you have come to the right place. Other than the recently revealed fraudulence of WorldCom and company–which after all can be found in ALL industries and businesses–the […] Read more » ::Billionaire financier Carl C. Icahn announced yesterday that he has agreed to acquire almost all of XO Communications Inc.’s $1 billion in bank debt through a tender offer of 50 cents on the dollar. Read more » :: A federal grand jury in New York indicted two former WorldCom Inc. executives on charges of securities fraud yesterday while three other officials at the telecommunications giant indicated that they are prepared to admit wrongdoing and cooperate with prosecutors in the fast-paced investigation. Scott […] Read more »

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Okay there is a lot of freaky emails we get, but this one caught my eye – I am not sure how true this is, but give it a shot, what do you have to lose. except your dignity. We hope you are riding THE SINGLES […] Read more »

India among 30 most corrupt countries:: Survey :: India ranks among the 30 most corrupt nations, according to a survey by a leading international NGO on Wednesday. India with a score of 2.7 on a scale of 10, stands 71st along with Russia, Zimbabwe and Tanzania […] Read more »

Wall Street Journal :: At a time when WorldCom Inc. was sending tens of millions of dollars in investment-banking business to Salomon Smith Barney, the big Wall Street firm allocated nearly one million shares of coveted initial public offerings to Bernard Ebbers, the telecom company’s former […] Read more »

Guardian Unlimited :: Cricket :: Ganguly puts India’s finest overseas victory in perspective At 12.53 the mood that had been welling for the last two days came to a head. The Indians spilled into one another’s arms with glory in their eyes, and their supporters in […] Read more » :: The Sanjay Dutt Tape ::The controversial transcript of the audio cassette played in the Special Court in Mumbai on July 26, containing alleged telephone conversation between Pakistan-based gangster Chhota Shakeel and Sanjay Dutt, Harish Sugandh, Sanjay Gupta and Mahesh Manjrekar on Dec 14, 2000 Read more » :: cheb i sabbah – krishna lila :: review :: Krishna Lila is the final work in DJ Cheb i Sabbah’s trilogy, which began with Shri Durga, followed by the remix collection, Mahamaya. Shri Durga is undoubtedly a difficult album to beat, but Cheb i […] Read more » ::Welcome to the wasteland of telecommunications stocks. Massive debt loads, enormous overcapacity and stingy customers weigh on the group like a bushel of ten-ton trucks. Can this sector ever find its way back? Sifting through the book cookery of WorldCom, the investigations plaguing Qwest and […] Read more »

The New York Times ::Salomon Gave a Big Helping of New Stocks to WorldCom :: fficers and directors of WorldCom received thousands of shares of hot initial public offerings from Salomon Smith Barney in the late 1990’s, according to documents delivered late yesterday by the firm […] Read more »

BW Online ::Lots of investors are heartened by his investment in network operator Level 3. Chances are they’ll be highly disappointed Read more »

The Seattle Times :: WorldCom founder Bernard Ebbers owns everything as far as he can see from his stone house atop a ridge on Canada’s biggest working ranch. The house offers a panorama of meadows, lakes and forests that make up some of the 500,000 acres […] Read more »

By Om Malik Like aging heavyweights, Lucent Technologies and Nortel Networks are on the mat, bloodied by the telecom downturn. Fans of Cisco Systems are hoping that this is Cisco’s chance to mop up in the telecom carrier market and become the undisputed king of networking. […] Read more » ::A bankruptcy court has approved the liquidation plan of At Home Corp., ending the saga of the former provider of high-speed Internet access company. According to a Securities and Exchange Commission filing made Thursday, Aug. 22, the plan was agreed to Aug. 15 in the […] Read more »

Americas Network :: How much money the telecommunications industry has contributed to various Congressional campaigns. Top recipients have included Chip Pickering (R-Miss.) and Billy Tauzin (R-La.) in the House and Max Cleland (D-Ga.), John Kerry (D-Mass.) and Jean Carnahan (D-Mo.) in the Senate; not surprisingly, all […] Read more »

Red Herring 2002 Innovators :: Ray Kao has been in the telecom business too long; knows too much; hears too many sad stories; and sometimes worries too much about the fate of the industry, which is in the severest downturn he’s ever known. As the founder, […] Read more »

Red Herring 2002 Innovators :: If you live near San Francisco, you may have seen Paul Butterworth, the 51-year-old cofounder and chief technology officer of AmberPoint, a Web-services company that’s his third startup. He’s the one zipping around in the fiery red Ferrari 500. He is […] Read more »

New York Times :: Many telecom deals conducted in the late 1990’s demonstrate how executives were able to enrich themselves through holdings in outside companies from which they bought equipment. Read more »

Washington Post :: A complex deal between AOL Time Warner Inc. and its Internet provider, WorldCom Inc., accounted for part of the $49 million in advertising and commerce revenue that AOL acknowledged last week might have been booked improperly, according to sources familiar with the matter. Read more »

Wall Street Journal :: Every month from 1998 through much of 2000, designated staffers in WorldCom Inc.’s credit department in Tulsa, Okla., prepared lists of customers who hadn’t paid their telephone bills, many of them in bankruptcy-court proceedings. Every month they forwarded the reports to the […] Read more »

Wall Street Journal :: Deutsche Telekom AG reported a sharply wider first-half net loss despite a 15% rise in revenue, as the German telecommunications giant struggles to reduce its massive debt. Read more »

New York Times :: Qwest Communications International, the debt-laden telephone company, announced today that it had agreed to sell its yellow pages directories business to a group of financiers for $7.05 billion in a move that would help it avert a bankruptcy filing.Qwest shares rose 25 […] Read more »

Washington Post :: The Securities and Exchange Commission has ruled invalid an accounting rationale used by some telecommunications companies to justify deals in which they appeared to trade access to one another’s wires, according to industry sources and a memo detailing the agency’s position. Read more »

Wall Street Journal :: Buyers have begun rescuing financially troubled fiber-optic telecommunications networks for cents on the dollar, but by giving these companies new life they risk perpetuating the world-wide capacity glut that sent the industry into a tailspin. Read more »

New York Times :: Grubman was by no means alone in pumping up the telecom bubble. He had much help from his colleagues in Salomon’s investment banking group. So far, these people have escaped much attention. Some have departed Salomon for other firms, but all made […] Read more »

FEER :: Half a World Away :: For India, these remote services offer the lure of big bucks. A recent study by the consulting firm McKinsey & Co. predicts that by 2008, Indian export revenues from such services could soar to between $21 billion and $24 […] Read more »

Wall Street Journal :: Like the massive declines in the nation’s steel, oil and automobile industries in decades past, the disintegration of the telecom business is leaving deep wounds in the U.S. work force. But labor historians say telecom stands out for the unprecedented speed of […] Read more »

Lightreading :: Just when you thought you’d heard every story of outlandish executive enrichment in the telecommunications industry, along comes a real jaw dropper.Ready? At the latest tally, it appears that Bryan Zwan, chairman and founder of Digital Lightwave Inc. (Nasdaq: DIGL – message board), has […] Read more »

Ethnotechno:: Asian Massive :: Six Degrees Records :: The definition of the Asian Massive Sound is presented thusly: Peoples from a subcontinent, invaded several times throughout the ages by outsiders, discover themselves anew within a ReDesigned culture. Stretching hundreds of miles from other lands, conduits of […] Read more »

Light Reading :: Walter Mondale. The 1985 New England Patriots. Alexander Hamilton. The Industry Standard. All famous. All losers. Now, a good chunk of the telecom industry’s biggest names have joined the loser club, thanks to their ability to ooze red ink from every pore during […] Read more »

i2 Partners :: A number of backbone carriers and CLECs are now submitting Plans of Reorganization in bankruptcy court. While WorldCom burns, Leucadia and Warren Buffett’s Berkshire Hathaway are among the new telecom distressed asset investors. Are “smart money” plays in distressed broadband carriers leading to […] Read more »

New York Times :: After Criticism, a Top Analyst Quits Salomon Jack Grubman, the beleaguered telecommunications analyst who was once among the most powerful figures on Wall Street, resigned from Salomon Smith Barney yesterday by what the firm described as mutual agreement. News Wires report that […] Read more »

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