Word: telecom
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...manager in Springfield, Mo. Soon after WorldCom bought MCI, Bryant recalls, Ebbers addressed a group of employees and urged them to hang on to their company stock. "He was a great motivator, a great speaker," says Bryant. Ebbers also was desperate to keep WorldCom's share price afloat as telecom prices were collapsing, to the point that he presided over $11 billion in phony book entries...
...billion from Qwest or Verizon.) WorldCom bond investors had a second reason to cheer when J.P. Morgan Chase agreed last week to pay $2 billion to settle investor claims, joining Citigroup and other Wall Street firms that had underwritten a WorldCom bond issue only about a year before the telecom went bust. With some $6 billion now pledged--the largest securities class-action settlement in U.S. history--bondholders may get back up to half the value of their lost investments. Meanwhile, investment banks have new motivation to scrutinize a company's books more closely before endorsing a bond issue...
...firm to jump-start the country's technology sector, and in 1999?with $5 million in state investment and a board of directors made up of senior government ministers?NewMargin entered the market as an odd hybrid of old-school state planning and free-market hustle. It now counts telecom giants like Motorola and Alcatel among its investors and this year, according to Feng, will triple its investment capital...
...firm to jump-start the country's technology sector, and in 1999--with $5 million in state investment and a board of directors made up of senior government ministers--NewMargin entered the market as an odd hybrid of old-school state planning and free-market hustle. It now counts telecom giants like Motorola and Alcatel among its investors and this year, according to Feng, will triple its investment capital...
...think of Perowne when you approach the London town house that McEwan shares with Annalena McAfee, his second wife, an arts editor at the Guardian newspaper. Located on a neo-classical square laid out by Robert Adam, it also faces onto the British Telecom Tower, a '60s-era spike. Perowne lives in a house with the same views. And the poignant ramblings of his mother Lily, who suffers from vascular dementia--"I put sap in the clock to make it moist"--are transcribed directly from the speech of McEwan's mother Rose, using notes McEwan took on visits before...