Global Crossing Says SEC Concludes Probe

Global Crossing Ltd., the network services operator, on Monday announced that the Securities and Exchange Commission has concluded an investigation into business practices at the company without assessing a fine or making a finding of fraud. An SEC order found that Global Crossing did not comply with certain reporting obligations under securities laws, Global Crossing […]

Former WorldCom Chief Awaits Sentence

Bernard Ebbers, the former chief executive of WorldCom, symbolized an era of corporate malfeasance that drove some of the world’s largest and most venerated companies into ruin. Convicted by a jury last month of spearheading an $11 billion accounting fraud that led to the biggest bankruptcy in U.S. history, the 63-year-old Ebbers could spend the […]

WSJ: Former WorldCom Board Members Reach Settlement Agreement

Eleven former board members of WorldCom Inc. agreed to personally pay $20.2 million to settle a lawsuit related to the telecommunications carriers accounting fraud, the Wall Street Journal reported Monday. The agreement is among the settlements reached in a class-action lawsuit headed up by New York State Comptroller Alan Hevesi, the newspaper reported. Under the […]

FCC Chairman to Join Aspen Institute

Outgoing FCC Chairman Michael Powell will join the Aspen Institute as a senior fellow for three months, the Washington, D.C.-based nonprofit group announced Friday. Powell, who is leaving the FCC after having served on the commission since 1997, will advise the Aspen Institute Communications and Society Program on leadership, communications policy and program activities and […]

All 4 One: Master Agencies Merge

Three master agencies - UteleSys, Communications Industries and Telelink Communications - have come together to form X4 Communications LLC, consolidating carrier commitments and back offices to improve commissions and efficiencies for their subagents. The new company launched in April. “Our cradle-to-grave approach to managing agent processes and focus on quality control will allow us to provide the […]

MetaSwitch Makes Executive Changes

MetaSwitch (Booth 809) has hired Michael Ward as senior vice president of sales. The company, a privately held division of Data Connection, says the move allows John Lazar to step up as chief executive. Lazar was vice president of sales and marketing. Ian Ferguson, founder of MetaSwitch and Data Connection, remains chairman. Ward is a […]

Carrier Channel: SEC: Enron Broadband A Fairy Tale

Posted: 7/2003 SEC: Enron Broadband A Fairy Tale By Josh Long In January 2000, Wall Street was so enamored with the broadband services unit of Enron Corp. that its shares rose 36 percent one day after executives gloated over its ability to connect with every network in the world and deliver advanced capabilities that would […]

Ebbers, Former WorldCom Brass Had Total Autonomy, Say Reports

Bernie Ebbers and other former top executives at WorldCom Inc. ruled the phone giant as lords who concealed a massive accounting fraud from their auditor, bullied underlings who questioned their tactics and approved multibillion dollar acquisitions in a matter of hours or minutes without a shred of paper presented to the board of directors, according […]

108th Congress Unlikely to Push Controversial Telecom Bills

Posted: 1/2003 108th Congress Unlikely to Push Controversial Telecom Bills By Josh Long THE BUSH ADMINISTRATION and the Republican-controlled Congress will focus on key issues such as homeland security and the economy during the 108th Congress and are unlikely to push any other issues, including telecom legislation, experts told a recent press briefing hosted by […]

The Road Less Traveled: Former Harley-Davidson Exec Speaks at ASCENT

In Yellowstone National Park, the Badlands of South Dakota or Daytona Beach, Fla., a plumber, a hairdresser and a CEO riding their Harley-Davidsons across the country are comrades. Whether roaring past a herd of bison on the plains near Mt. Rushmore or buzzing by a fleet of beach bums, their ride transcends gender, social class […]

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