Do Big Companies Take So Much From Each Other?

1328 Words Oct 25th, 2015 6 Pages
do big companies take so much from each other?
MCI, Inc. was an American telecommunication corporation, a subsidiary of Verizon Communications. In the article World-Class Scandal At WorldCom by David Hancock he discusses how “The corporation was formed as a result of the fusion of WorldCom and MCI Communications corporations, and used the name MCI WorldCom for a while and was succeeded by the WorldCom Company, before changing its name on April 12, 2003, as part of the corporation 's ending of their bankruptcy status.” WorldCom Inc. began as a small Mississippi telephone service provider of long distance telephones. They are not the only telecommunications firm in financial trouble, there are many others who have financial troubles also.

Scandals and Companies is one of the most vital essential microeconomics in the real world. In the early 2000s WorldCom scandal was all over the news, the telecommunications industry was on the verse of closing. Ceo Bernard Ebbers, became very wealthy man from the increasing price of his savings in WorldCom stock.

"WorldCom, plagued by the fast erosion of its profits and an accounting scandal that created billions in illusory earnings, last night submitted the largest bankruptcy filing in United States history," the New York Times stated in their article the time this occurred. The thing that caused this fraud was the strategy of WorldCom 's CEO, Bernie Ebbers. WorldCom and other telecommunications firms have faced a dropping demand as the…
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