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Worldcom Scandal

Worldcom Scandal

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Published by sagar2go

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Published by: sagar2go on Sep 03, 2010
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12/15/2012

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CSR-THEWORLDCOMFIASCO
Presented by²
Sagar Lahoti
 
Company Background
World com Founded in 1983 in Hattiesberg, Mississippi
Initially called LDDS-Long distance discount service
Bernard Ebber as CEO in 1985Growth=Survival$650000=$1.5 million
World com went public in 1989-E.O.S
1993²metromedia co. & resergens communication
1994± IDB
1995²William Technology
1996-MFS communication
1998-Biggest acquisition($40 billion revenues)
 
1999 sprint merger worth $129 billion crashed
Stock declined by 2000
Heavy loans unstabilized his position as he left he said«.
New CEO-John Sidgmore & CFO Scott Sullivan
Investigation launched by :- SEC (Security exchange commission)- Internal auditor 
Purchased by Verizonon communication on 2001known as verizon business.
Company Background

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