WorldCom paper accounting

Essay specific features

 

Issue:

Business

 

Written by:

Josephine M

 

Date added:

January 31, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1286

 

Was viewed:

8172 times

 

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Essay content:

WorldCom was the second largest long distance phone service provider here in the US and also owned major part of the internet system servers. IN 1999 Sprint Corporation and MCI WorldCom announced a 129 billion dollar merger that would make the company the largest supplier of long distance calls but the department of justice was scared they would become a monopoly...
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Around 1998 the telecommunication industry entered a downturn, and WorldCom without the Sprint merge had suffered a serious blow. At that time the stocks were beginning to drop and business was slow. CEO Ebbers came under a lot of pressure from he banks to cover margin calls and also investor wanted to see the stock prices high...
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