Word: worldcom
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Through such fans Jordan has, according to FORTUNE magazine, added $10 billion to the economy. What makes him a perfect pitchman for absolutely anything (Nike, Gatorade, McDonald's, Oakley, Rayovac, WorldCom...) is that he wins. While his skills were once those of Baryshnikov, age and triple-teaming defenses have grounded him. So, like Sinatra after he lost his crooning voice, Jordan, with delimited skills, developed an even better game. Through practice, his fadeaway jumper, passing and defense are twice as good as when he started in the league. During the last seconds of the play-off series with the Pacers...
...stakes involved--$442 million of Harvard's money--may be small compared to the multibillion dollar mergers of telephone giants like WorldCom and MCI or financial behemoths Citicorp and Travelers...
...largest merger in history, a stock swap worth some $76 billion. It's a titanic marriage that will dwarf everything else in banking, brokerages, insurance, ATMs, cold calls, lollipops, hamburgers and chutzpah. It makes the size of the next biggest merger, the pending $42 billion deal between MCI and WorldCom announced last October, look cheesy...
...Although WorldCom appears to have successfully outmaneuvered the much larger GTE in the race to acquire the United State's second-largest long distance carrier, anything can happen in this brave new world of telecommunications deregulation. Potential barriers include investors, federal regulators and, yes, even GTE. British Telecom, the other player in the three-way bidding war, has apparently cashed out ? pocketing nearly $7.5 billion thanks to its 20 percent stake...
...Monday was a pretty good day for WorldCom: The company discovered that it had underestimated its savings from MCI's international business costs by several hundred million dollars. As a result, WorldCom expects to add to its earnings by as much as 20 percent in the first year after the merger takes effect. Meanwhile, the U.S. Department of Justice has approved WorldCom's purchase of data networks owned by America Online and CompuServe. That purchase was part of a three-way deal earlier this year in which AOL acquired CompuServe's consumer subscribers...