|
gptkbp:instance_of
|
gptkb:Telecommunications
gptkb:politics
gptkb:Corporation
|
|
gptkbp:accounting_practices
|
improper
|
|
gptkbp:accounting_scandal
|
gptkb:2002
|
|
gptkbp:acquired
|
gptkb:MCI
|
|
gptkbp:acquisition
|
gptkb:MCI_Communications_Corporation
gptkb:Sprint_Corporation
gptkb:MCI,_Inc.
gptkb:MCI
aggressive expansion
$37 billion
|
|
gptkbp:acquisition_of_compu_serve
|
gptkb:1998
|
|
gptkbp:acquisition_of_digex
|
gptkb:1999
|
|
gptkbp:acquisition_of_intermedia
|
gptkb:2000
|
|
gptkbp:acquisition_of_mci
|
gptkb:2000
|
|
gptkbp:acquisition_of_uunet
|
gptkb:1997
|
|
gptkbp:acquisition_year
|
gptkb:1997
gptkb:2000
|
|
gptkbp:assets
|
$107 billion (2001)
$41 billion (2001)
|
|
gptkbp:audit_firm
|
gptkb:Arthur_Andersen
|
|
gptkbp:bankruptcy_filing_date
|
July 21, 2002
|
|
gptkbp:bankruptcy_plan_approval
|
gptkb:2004
|
|
gptkbp:bernard_ebbers_conviction
|
gptkb:2005
|
|
gptkbp:bernard_ebbers_sentence
|
25 years in prison
|
|
gptkbp:business_model
|
telecommunications and data services
|
|
gptkbp:ceo
|
gptkb:David_J._Mc_Carty
gptkb:William_L._Smith
gptkb:Kevin_A._Mc_Carthy
gptkb:Nathan_A._Mc_Carthy
gptkb:Quentin_A._Mc_Carthy
gptkb:Victor_A._Mc_Carthy
gptkb:Zachary_A._Mc_Carthy
gptkb:James_A._Mc_Gowan
gptkb:Joseph_A._Mc_Carthy
gptkb:Paul_D._Mc_Carthy
gptkb:Steve_A._Mc_Carthy
gptkb:Yvonne_A._Mc_Carthy
gptkb:Larry_A._Mc_Carthy
gptkb:Tim_A._Mc_Carthy
gptkb:Richard_L._Mc_Carthy
gptkb:John_Sidgmore
gptkb:Bernard_Ebbers
gptkb:Charles_A._W._Mc_Carthy
gptkb:Michael_Capellas
gptkb:Robert_A._Mc_Carthy
gptkb:Edward_A._Mc_Carthy
gptkb:George_A._Mc_Carthy
gptkb:Henry_A._Mc_Carthy
gptkb:William_A._Mc_Carthy
gptkb:Scott_Sullivan
gptkb:John_A._Mc_Carthy
gptkb:Michael_J._Mc_Mahon
gptkb:Robert_W._Jones
gptkb:Thomas_A._Mc_Carthy
gptkb:Mark_A._Mc_Carthy
1985-2002
Xavier A. Mc Carthy
Oscar A. Mc Carthy
|
|
gptkbp:ceo_resignation
|
April 2002
|
|
gptkbp:cfo_resignation
|
April 2002
|
|
gptkbp:communication
|
provider
|
|
gptkbp:consequences
|
multiple convictions
|
|
gptkbp:criminal_charge
|
gptkb:2004
|
|
gptkbp:debt_at_bankruptcy
|
$41 billion
|
|
gptkbp:dissolved
|
gptkb:2003
gptkb:2006
|
|
gptkbp:economic_impact
|
loss of trust
increased regulation
mass layoffs
|
|
gptkbp:employees
|
80,000
approximately 80,000 (2001)
80,000 (2001)
approximately 80,000 (2000)
|
|
gptkbp:famous_for
|
gptkb:Telecommunications
|
|
gptkbp:famous_scandal
|
World Com accounting scandal
|
|
gptkbp:federal_investigation
|
ongoing
|
|
gptkbp:financial_analysts
|
misled
|
|
gptkbp:financial_fraud
|
one of the largest in U. S. history
|
|
gptkbp:financial_reports
|
misleading
falsified
|
|
gptkbp:financials
|
gptkb:Southern_District_of_New_York
gptkb:U._S._Bankruptcy_Court_for_the_Southern_District_of_New_York
gptkb:2002
July 2002
questionable accounting practices
restructured company
|
|
gptkbp:founded
|
gptkb:1983
|
|
gptkbp:founded_in
|
gptkb:1983
|
|
gptkbp:founder
|
gptkb:Bernard_Ebbers
|
|
gptkbp:fraud
|
$11 billion
|
|
gptkbp:fraud_amount
|
$11 billion
|
|
gptkbp:government_fines
|
$750 million
|
|
gptkbp:has_culture
|
aggressive growth
|
|
gptkbp:headcount
|
approximately 20,000 (2003)
60,000 (2002)
|
|
gptkbp:headquarters
|
gptkb:Ashburn,_Virginia
gptkb:Mississippi
gptkb:Clinton,_Mississippi
corporate office
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
World Com
|
|
gptkbp:impact
|
telecommunications industry
largest bankruptcy in U. S. history at the time
|
|
gptkbp:impact_on_accounting_standards
|
significant changes
|
|
gptkbp:impact_on_sec_regulations
|
gptkb:significant
|
|
gptkbp:industry
|
gptkb:Telecommunications
|
|
gptkbp:investigates
|
several years
SEC investigation
|
|
gptkbp:investment
|
decreased
|
|
gptkbp:legacy
|
corporate governance reforms
accounting reform
|
|
gptkbp:legacy_of_fraud
|
long-lasting effects
|
|
gptkbp:legal_issue
|
gptkb:politics
|
|
gptkbp:losses
|
billions
|
|
gptkbp:market_capitalization_before_scandal
|
$180 billion
|
|
gptkbp:market_position
|
second largest long-distance provider in U. S.
|
|
gptkbp:mci_name
|
reintroduced in 2003
|
|
gptkbp:merged_with
|
Sprint Corporation (proposed)
Verizon Communications (2006)
|
|
gptkbp:merger_with_sprint
|
failed attempt
|
|
gptkbp:network_services
|
data and internet services
|
|
gptkbp:notable_event
|
merger with MCI
largest bankruptcy in U. S. history at the time
|
|
gptkbp:parent_company
|
gptkb:Verizon_Communications
|
|
gptkbp:post-bankruptcy_name
|
gptkb:MCI,_Inc.
|
|
gptkbp:post-bankruptcy_operations
|
restructured under new management
|
|
gptkbp:post-scandal_reforms
|
gptkb:Sarbanes-Oxley_Act
|
|
gptkbp:provides_oversight_for
|
increased scrutiny
|
|
gptkbp:reformed
|
gptkb:2003
gptkb:2004
approved in 2004
|
|
gptkbp:reputation
|
severely damaged
|
|
gptkbp:restatement_of_earnings
|
1999-2002
|
|
gptkbp:revenue
|
$39 billion
long-distance services
$39 billion (2001)
improper accounting methods
|
|
gptkbp:revenue_inflation
|
$3.8 billion
|
|
gptkbp:revenue_peak
|
gptkb:2001
|
|
gptkbp:revenue_restatement
|
$11 billion
|
|
gptkbp:sec_investigation
|
gptkb:2002
|
|
gptkbp:service_area
|
gptkb:United_States
|
|
gptkbp:services
|
internet services
data services
|
|
gptkbp:shareholder_lawsuits
|
gptkb:2002
numerous lawsuits filed
|
|
gptkbp:stock_exchange
|
gptkb:NASDAQ
|
|
gptkbp:stock_price_decline
|
gptkb:2002
|
|
gptkbp:stock_price_drop
|
gptkb:2002
|
|
gptkbp:stock_symbol
|
gptkb:WCOM
|
|
gptkbp:stockholder_equity_loss
|
$180 billion
|
|
gptkbp:stockholder_recovery
|
limited
|
|
gptkbp:subsidiary
|
gptkb:MCI_Inc.
gptkb:MCI_World_Com
gptkb:Verizon
gptkb:UUNET
|
|
gptkbp:successor
|
gptkb:Verizon_Communications
|
|
gptkbp:telecom_bubble
|
related to scandal
|
|
gptkbp:telecom_industry_changes
|
after scandal
|
|
gptkbp:telecom_sector
|
major player
|
|
gptkbp:title_held
|
gptkb:MCI,_Inc.
|
|
gptkbp:type
|
gptkb:public_company
|
|
gptkbp:website
|
worldcom.com
|
|
gptkbp:whistleblower
|
gptkb:Cynthia_Cooper
|
|
gptkbp:bfsParent
|
gptkb:Arthur_Andersen
gptkb:MCI_Communications_Corporation
gptkb:MCI,_Inc.
gptkb:MCI
|
|
gptkbp:bfsLayer
|
5
|