MCI Emerges From Bankruptcy
MCI(MCIAV Quote) emerged from Chapter 11 protection Tuesday with promises to radically remake a shifting telecom landscape.
The company, which was once known as WorldCom before it was brought down in the nation's largest-ever bankruptcy case, filed papers last month to set the record straight on some $74 billion in false profits in the 2000-2002 period. Meanwhile, federal securities fraud charges are pending against founder and longtime CEO Bernie Ebbers.
MCI, now under the leadership of former Compaq chief Michael Capellas, said Tuesday it would focus on the Internet protocol business that is reshaping the telecom industry. The company said that in the upcoming weeks and months, MCI will roll out new products, services and partnerships that will "extend its IP leadership position." ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,344.84 | 1,095.63 | 2,144.60 | 32.01 |
Oil *
78.55
|
|
UP
34.92
|
UP
4.14
|
UP
6.16
|
DOWN
0.30
|
10 Yr
3.20%
SPDR Gold
115.65
|
|
+0.34%
|
+0.38%
|
+0.29%
|
-0.93%
|
Data delayed 20 minutes |
Connect with TheStreet