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MCI Reloaded

MCI
• Billing Non-Customers
• Long-Distance
• The Neighborhood
• DSL
• Wireless
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News
• MCI Chairman Gets "Scrooge" Award
• MCI Stockholders Approve Purchase By Verizon
• Calif. Investigating MCI's Billing Non-Customers
• MCI Reloaded

April 20, 2004
Hoping to make its $11 billion accounting scandal a distant memory, disgraced telecom giant WorldCom emerges from bankruptcy as MCI today. MCI, the pioneering long-distance company, was one of a number of firms merged into WorldCom.

Today's exit from bankruptcy ends a 21-month process that began with the largest bankruptcy filing in U.S. history. The new company will carry about $5.8 billion in debt -- compared with $41 billion when it filed for Chapter 11 in July 2002 -- as well as about 20,000 fewer employees, including 100 or so executives implicated in the scandal.

MCI currently is the second largest long-distance carrier, with about 20 million residential customers. But many analysts believe it will have a difficult time remaining a stand-alone company.

September 5 2008

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