Why Do Big Companies Take So Much From Each Other?

1330 Words Oct 27th, 2015 6 Pages
Why 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…
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