Qwest Communications International Inc. narrowed its losses in the third quarter of 2005, reporting a small increase in revenue at $3.5 billion, compared to $3.45 billion a year earlier. Its operating expenses totaled $3.3 billion, a decline of 9 percent, or $326 million, compared to the third quarter of 2004. Overall losses came to $144 […]
Motorola Inc. said today it has agreed to settle its lawsuit against its former president and COO, Mike Zafirovski. Zafirovski recently was named president and CEO of Nortel Networks, and Motorola claimed he had breached his non-compete, confidentiality and no-solicitation contracts. In agreeing to dismiss the lawsuit, Motorola is requiring Zafirovski to protect the companys […]
Trinsic Inc., the Florida-based CLEC that uses IP to deliver broadband and voice services, will buy Sprint Nextels local access lines for which it provides services under a wholesale, private label agreement. The former Z-Tel Technologies Inc. made the announcement yesterday, and would not disclose the deals terms. Trinsic says it provides wholesale services for approximately […]
Ron Harden, former vice president of sales and marketing for Volo Communications, as well as former chairman for CompTel/ASCENT, has joined VoIP provider VoX Communications as executive vice president of sales and marketing. Volo recently was acquired by VoIP Inc. Ron has a great reputation and will be a strong addition to our VoX team, […]
Former FCC Chairman Michael Powell has joined Providence Equity Partners Inc., a private equity investment firm specializing in media, communications and information companies, as a senior advisor. Powell will advise Providence on technology and regulatory issues, and investment opportunities. Providence Equity is an investor in T-Mobile USA and Nextel. Various media speculate the firm hired […]
The final chapter in the saga of WorldCom Inc. was revealed Wednesday when its former chief executive Bernie Ebbers was sentenced to 25 years in prison for an $11 billion accounting fraud that caused the telecommunications titan to file the largest bankruptcy in U.S. history. Ebbers was credited with transforming Mississippi-based WorldCom into one of […]
Bernie Ebbers, the former chief executive of WorldCom Inc., will have lost more than his freedom if he goes to jail for his role in the $11 billion accounting fraud that brought the telecom titan into the largest bankruptcy in U.S. history. Most of Ebbers assets will be distributed to WorldCom shareholders and bondholders under […]
Robin Szeliga, the former CFO of Qwest Communications International Inc., has been charged with one count of insider trading, federal prosecutors announced Thursday. Prosecutors allege Szeliga had information about her employers true operating performance and financial condition that was not disclosed to the public when she sold 10,000 shares of Qwest common stock, netting a […]
MobilePro Corp. says its subsidiary, CloseCall America, has reached a commercial agreement with Verizon Communications Inc. that is good through March 31, 2010. The deal replaces the former UNE-P rates. CloseCall America does business with Verizon in Delaware, Indiana, Maryland, New Jersey, Pennsylvania and Wisconsin.
Five former Enron executives who worked at the defunct broadband services unit are set to go to trial on a range of charges levied by the Department of Justice. The search for a jury began Monday, the Houston Chronicle reported. Executives from Enron Broadband Services Inc. (EBS) are accused of 170 counts of conspiracy, wire […]
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