worldcom

Essay specific features

 

Issue:

Business

 

Written by:

Bruno P

 

Date added:

March 23, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 1110

 

Was viewed:

7329 times

 

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Essay content:

Leading up to the telecom bubble WorldCom was a big spender, paying a fortune to control the internet backbone that thought would be so profitable. Doing so required issuing a lot of debt, which eventually cause a lot of problems later on. Despite this debt while other telecoms (especially long-distance carriers) were reporting losses WorldCom kept posting billion dollar profits earning them strong buy ratings by analysts and a "top 50" ranking by Goldman Sachs (Goldman Sachs 2001) As three WorldCom employees eventually proved the profits were fictitious and being widely held only meant that more shareholders would lose their money...
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Despite this debt while other telecoms (especially long-distance carriers) were reporting losses WorldCom kept posting billion dollar profits earning them strong buy ratings by analysts and a "top 50" ranking by Goldman Sachs (Goldman Sachs 2001) As three WorldCom employees eventually proved the profits were fictitious and being widely held only meant that more shareholders would lose their money...
displayed 300 characters

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