WorldCom Files for Bankruptcy Protection.
WorldCom filed the largest corporate bankruptcy in U.S. history Sunday.
The telecommunications giant, being investigated for hiding $3.8 billion in expenses, filed for Chapter 11 protection in U.S. Bankruptcy Court in Manhattan.
WorldCom lists more than 1,000 creditors.
The company’s collapse follows costly scandals at other big-name corporations, including Adelphia Communications, Global Crossing and Enron, all of which have filed for bankruptcy protection.
The bankruptcy is twice as large as Enron’s record-setting filing in December and four times as big as Global Crossing’s in January….
Related Articles
Consumers resistant Retail biometrics
As assistant director of information systems for $ 700 million Piggly Wiggly grocery chain, Rachel Bolt lautstärksten was one of those retailing biometric authentication. On Piggly Wiggly, the system - and like almost all other retail biometric system being tested today - is based on fingerprints.But, although originally planned Bolt
New Congress even obstacles to a settlement Democratic lobbyists
The Democrats' acquisition of Congress have been a lot of interest groups - work, enviros, etc. - elbowing loss during a long search for the legislation of its components. Groups of lobbyists are feeling pressure.The National Air Traffic Controllers Association has worked hard to reopen negotiations of the treaty with
Robber Left Name on Job Application
Police say they got a major clue to the identity of a suspect in the armed robbery of a convenience store — his job application. Investigators in Athens, Ga., say Demetrius Robinson filled out the application to kill time while waiting for the Golden Pantry store to empty of customers. Authorities say
Donors Eclair lobbying
Home Ameriquest loans and other donors Subprime overdue is now in large numbers, roiling global credit markets and sparking debate on whether the regulatory authorities and legislators should be the likely consequences and Measures chaos. A burr under the Ameriquest's political lobbying and donations of Industry Shows Subprime comment manoeuvring
The Senate adopted the bill for mortgage fraud
A bill to make it easier for local prosecutors to act against mortgage fraud in the State Senate Tuesday. The measure, unanimously, defines fraud and housing credits differs single case of fraud in series with the increase in penalties for people over five or write to be mistaken for mortgages. The
New measures implemented to prevent fraud card drugs
The Centers for Medicare & Medicaid Services (CMS) announced efforts undertaken to strengthen disease surveillance approved Drug Discount Card programme. "We have been in close collaboration with suppliers of medical services and our partners on criminal prosecution and reducing the monitoring of fraud and abuse in Medicare, and we are
Check your credit line
If a consumer pays late or not to make payments by credit card, they know that, before he found the credit report, "said Ken McEldowney, Executive Director of San Francisco-based non-profit group d action of consumers. "The only thing it could be a protection against a certain type of fraud
Fly taxes to Georgia to grant a credit review
Two weeks after the rewrite of Georgia's Fair Lending Act, the controversy persists about how they obtained the authorization in the state Senate. The legislature, the original Act did last year requested an inquiry into actions in the office of the governor's disclosure of the new law. Georgia's inspector general, appointed by
If the flag of South rose again underway
But this is not Iraq, they are concerned about Georgia. It's the Civil War, a conflict ended 138 years. One of his greatest lasting symbols - the flag fight Konföderierten - has just destroyed the vice-presidency of the ambitions of its president, could send relations between the races in the
Several states weigh ban on gay adoption
During the two decades since it has a state license adoption agency Catholic Charities of Boston, a small number of children of gay parents: 13 of 720 adoptions. But if the adoption was made public, the archbishop, bishops - after a directive from the Vatican - they had pledged to