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This: MCI

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MCI, Inc. is an American telecommunications company that is headquartered in Ashburn, Virginia. The corporation was the result of the merger of WorldCom (formerly known as LDDS followed by LDDS WorldCom) and MCI Communications, and used the name MCI WorldCom followed by WorldCom before taking its final name on April 14, 2003 as part of the corporation's emergence from bankruptcy. The company formerly traded on NASDAQ under the symbols "WCOM" (pre-bankruptcy) and "MCIP" (post-bankruptcy). The corporation was purchased by Verizon Communications with the deal closing on January 6, 2006, and is now identified as that company's Verizon Business division with the local residential divisions slowly integrated into local Verizon subsidiaries.

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Wikipedia About WorldCom

This: MCI

Mci%20logo.png

MCI, Inc. is an American telecommunications company that is headquartered in Ashburn, Virginia. The corporation was the result of the merger of WorldCom (formerly known as LDDS followed by LDDS WorldCom) and MCI Communications, and used the name MCI WorldCom followed by WorldCom before taking its final name on April 14, 2003 as part of the corporation's emergence from bankruptcy. The company formerly traded on NASDAQ under the symbols "WCOM" (pre-bankruptcy) and "MCIP" (post-bankruptcy). The corporation was purchased by Verizon Communications with the deal closing on January 6, 2006, and is now identified as that company's Verizon Business division with the local residential divisions slowly integrated into local Verizon subsidiaries.

MCI's history, combined with the histories of companies it has acquired, echoes most of the trends that have swept American telecommunications in the past half-century: It was instrumental in pushing legal and regulatory changes that led to the breakup of the AT&T monopoly that dominated American telephony; its purchase by WorldCom and subsequent bankruptcy in the face of accounting scandals was symptomatic of the Internet excesses of the late 1990s. It accepted a proposed purchase by Verizon for US$7.6 billion.

For a time, WorldCom (WCOM) was the United States' second largest long distance phone company (AT&T was the largest). WorldCom grew largely by acquiring other telecommunications companies, most notably MCI Communications. It also owned the Tier 1 ISP UUNET, a major part of the Internet backbone. It was based in Clinton, Mississippi before moving to Ashburn, Virginia.

Corporate founding

Long Distance Discount Services, Inc. (LDDS) began in Hattiesburg, Mississippi in 1983. In 1985 LDDS selected Bernard Ebbers to be its CEO. The company went public in August 1989 when it merged with Advantage Companies Inc. The company name was changed to LDDS WorldCom in 1995, and later just WorldCom.

The company's growth under WorldCom was fueled primarily through acquisitions during the 1990s and reached its apex with the acquisition of MCI in 1998. Among the companies that were bought or merged with WorldCom were Advanced Communications Corp. (1992), Metromedia Communication Corp.(1993), Reurgens Communications Group(1993), IDB Communications Group, Inc (1994), Williams Technology Group, Inc. (1995), and MFS Communications Company (1996). The acquisition of MFS included UUNet Technologies, Inc., which had been acquired by MFS shortly before the merger with WorldCom. In February 1998, a complex transaction saw WorldCom purchase online pioneer CompuServe from its parent company H&R Block. WorldCom then retained the CompuServe Network Services Division, sold its online service to America Online, and received AOL's network division, ANS. The acquisition of Digex (DIGX) in June 2001 was also complex; Worldcom acquired Digex's corporate parent, Intermedia Communications, and then sold all of Intermedia's non-Digex assets to Allegiance Telecom.

News about Worldcom

Today in History - May 10

Boston GlobeBush reacted with "deep disgust and disbelief" during a Pentagon visit as he examined new photos and video clips of American soldiers abusing Iraqi prisoners. Citigroup agreed to pay $2.65 billion to settle a lawsuit brought by WorldCom investors who'd ... http://www.boston.com/news/history/articles/2009/05/10/today...

How the Republicans Can Come Back

TimeAfter Black Monday, the Asian crisis, Long-Term Capital Management's meltdown, the Internet bust, the Enron scandal, WorldCom's collapse and the subprime crisis, there is nothing conservative about turning a blind eye to reckless speculation and greedhttp://www.time.com/time/politics/article/0,8599,1896604,00....

VIX Futures Show Traders Boosting Bets on End to S&P 500 Rally

BloombergIt topped 40 after WorldCom Inc.’s bankruptcy in 2002, the September 2001 terrorist attacks, Long- Term Capital Management’s collapse in 1998 and the Asian financial crisis in 1997. The U.S. volatility benchmark, derived from S&P 500 contracts ... http://www.bloomberg.com/apps/news?pid=20601084&sid=aL67pJSx...

Op-Ed Contributor

New York TimesThe tsunami of corporate scandals that shook our economy in 2001 — Enron, WorldCom, Adelphia and others — provides us with an instructive example. The Justice Department moved swiftly to bring corporate wrongdoers to justice. But we also learned ... http://www.nytimes.com/2009/05/05/opinion/05ashcroft.html?em

CEOs' Diminished Power Could Prove Costly

BusinessWeekIn the space of a few months we absorbed the start of a recession, the September 11 terrorist attacks, and the uncovering of the misdeeds at Enron, WorldCom, and Tyco. As stock market gains evaporated, so did admiration for business leaders. Rise of ... http://www.businessweek.com/investor/content/may2009/pi20090...

Search results for Worldcom

MCI Inc. - Wikipedia, the free encyclopedia

MCI, Inc. is an American telecommunications company that is headquartered in Ashburn, Virginia. The corporation was the result of the merger of WorldCom (formerly known as LDDS ... http://en.wikipedia.org/wiki/MCI_Inc

WorldCom Case Study Update 2006

A description of the events between the declaration of bankruptcy by WoldCom and its acquisition by Verizon. http://www.scu.edu/ethics/dialogue/candc/cases/worldcom-upda...

WORLDCOM'S COLLAPSE: THE OVERVIEW; WORLDCOM FILES FOR BANKRUPTCY ...

worldcom's collapse: the overview; worldcom files for bankruptcy; largest u.s. case by simon romero and riva d. atlas published: monday, july 22, 2002http://query.nytimes.com/gst/fullpage.html?res=9C04E6D81738F...

WorldCom Foundation - Home

10 December, International Human Rights Day, women from the Democratic Republic of Congo, victims of one of the most serious humanitarian crisis worldwide are coming to The Hague ... http://worldcom.org/

WorldCom News

Long Distance Rates Comparison Chart to help the consumer compare rates and save on their phone bills.http://www.worldcomnews.com/

Wikipedia results for Worldcom

MCI Inc. - Wikipedia, the free encyclopedia

MCI, Inc. is an American telecommunications company that is headquartered in Ashburn, Virginia. The corporation was the result of the merger of WorldCom (formerly known as LDDS ... http://en.wikipedia.org/wiki/Worldcom

Bernard Ebbers - Wikipedia, the free encyclopedia

Bernard John "Bernie" Ebbers (born August 27, 1941 in Edmonton, Alberta) is a Canadian-born businessman. He co-founded the telecommunications company WorldCom and is a former chief ... http://en.wikipedia.org/wiki/Bernard_Ebbers

MCI Communications - Wikipedia, the free encyclopedia

It was purchased by WorldCom in 1998 and became MCI WorldCom, and afterwards being shortened to WorldCom in 2000. WorldCom's financial scandals and bankruptcy led that company to ... http://en.wikipedia.org/wiki/MCI_Communications

Cynthia Cooper (accountant) - Wikipedia, the free encyclopedia

Cynthia Cooper is a native of Clinton, Mississippi who formerly served as the Vice President of Internal Audit at WorldCom. In 2002, Cooper and her team of auditors worked together ... http://en.wikipedia.org/wiki/Cynthia_Cooper_%28WorldCom%29

Vivien v. Worldcom - Wikipedia, the free encyclopedia

Vivien v. WorldCom, Civil Action No. 2-01329 , established a new legal theory permitting workers to recover for losses in their 401(k) retirement plans caused by investment in ... http://en.wikipedia.org/wiki/Vivien_v._Worldcom
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