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Topia!: Society: Issues: Business: Allegedly Unethical Firms: MCI WorldCom (19)
SBC Ameritech Files Complaint Against MCI for Slamming in Illinois - "SBC Ameritech Illinois filed a complaint with the Illinois Commerce Commission calling for an end to alleged deceptive sales and marketing practices, and slamming by WorldCom Inc.'s MCI Group." [SF Gate] "You Have No Idea the Evil We Do" - MCI Insiders Break Their Silence - Stories of "modern call center hell" submitted by MCI staffers. By Andrew Orlowski. [Register] MCI Paralyzes US Reg Bureau - The Register falls victim to MCI "random billing". By Andrew Orlowski. [Register] WorldCom's $3.8 Billion Scandal - "Telecom sector reels after accounting disclosure." By Shawn Langolis. [CBS Marketwatch] WorldCom: The Sky is Falling - ZDNet News special report. "It's Enron, part II. Add almost $4 billion in 'outrageous' accounting irregularities to a company already in debt, and you've got a crisis." How Auditor Found $4bn Black Hole - "The financial scandal that has enveloped WorldCom, one of America's largest phone companies, was unearthed by an employee running a spot check on the Mississippi-based company's books." By Julian Borger and Richard Wray. [Guardian] WorldCom: What the US Papers Say - "Ros Taylor takes a look at how the American media are reacting to the latest corporate scandal to rock the financial markets." Press review. [Guardian] WorldCom Formally Charged with Fraud - "WorldCom today moved closer to bankruptcy as US regulators formally charged the telecoms giant with fraud by inflating its profits through improper accounting." By Mark Tran. [Guardian] WorldCom 'Must File Report by Monday' - "WorldCom, the disgraced telecommunications giant, has today been told it has until Monday to explain to regulators how it inflated profits by $4bn (£2.5bn)." By Mark Tran. [Guardian] SEC Statement Concerning WorldCom - "The WorldCom disclosures confirm that accounting improprieties of unprecedented magnitude have been committed in the public markets." CBC Indepth Backgrounder: WorldCom - Timeline of the rise and fall of WorldCom, and links to further CBC coverage. WorldCom Facing Charges of Fraud; Bush Vows Inquiry - "The Securities and Exchange Commission filed fraud charges against WorldCom yesterday and President Bush vowed to 'hold people accountable' for the bookkeeping scandal at the company, the nation's second-largest long-distance provider and a major carrier of Internet traffic." By Simon Romero. [New York Times] [Free subscription required.] Boycott Worldcom - Seeks to broaden public awareness and provide a discussion forum for WorldCom business practices judged to be immoral, unethical, and/or illegal. Gloom at WorldCom Centre - "WorldCom's employees are feeling betrayed and bitter." By Nick Childs. [BBC News] Who Watches the Watchers? - "US regulators are scrambling to line up new accounting rules in the wake of the Enron and WorldCom affairs, but are they doing enough?" Analysis by Jeremy Scott-Joynt. [BBC News] Internet Fears over WorldCom Scandal - "With 40% of internet traffic using WorldCom's network, worries are spreading about what effect a collapse might have." [BBC News] WorldCom Staff Brace for Cuts - "The US telecoms giant is set to give details of 17,000 job cuts as Congress and officials start the investigation into the firm's accounting fraud." [BBC News] Worldcom 401K and Pension Plan Networking - Resources for those who were affected, including a mailing list, updates on bills in Congress, and how to get involved.
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