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MCI, Inc. (formerly WorldCom and MCI WorldCom) was a telecommunications company. For a time, it was the second-largest long-distance telephone company in the United States , after AT&T .
WorldCom offered $34.7 billion in stock, higher than either the BT or GTE offers, which was accepted by MCI on November 10, 1997. [35] On September 15, 1998 the transaction was consummated and the merged company renamed MCI WorldCom. [36] Two years later, the "MCI" part was dropped.
2002 – WorldCom files for Chapter 11 bankruptcy protection as a result of a massive $11 billion accounting scandal. 2003 – The UUNET brand re-emerges as WorldCom 's wholesale-only brand. 2004 – WorldCom emerges from Chapter 11 bankruptcy and renames itself to MCI , still using the UUNET brand for wholesale business.
The WorldCom scandal was a major accounting scandal that came into light in the summer of 2002 at WorldCom, the USA's second-largest long-distance telephone company at the time. From 1999 to 2002, senior executives at WorldCom led by founder and CEO Bernard Ebbers orchestrated a scheme to inflate earnings in order to maintain WorldCom's stock ...
Arthur Andersen LLP was an American accounting firm based in Chicago that provided auditing, tax advising, consulting and other professional services to large corporations. By 2001, it had become one of the world's largest multinational corporations and was one of the "Big Five" accounting firms (along with Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers).
Of course, Yahoo and Bing still exist, but they only exist in Google’s shadow. The same goes for DuckDuckGo, which, while offering a solid privacy-focused alternative, has barely made a dent ...
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