Neuigkeiten zu WorldCom - 500 Beiträge pro Seite

[leutzsch2001]

werde hier mal einige Neuigkeiten aus den USA zum besten geben, die ich von http://www.nasdaq.com erhalten habe:

ist mir mittlerweile zu aufwendig geworden, alle interessanten stellen zu markieren, in jeden text sind pro und contra andeutungen versteckt.

leider habe ich es total verschlafen,mich günstig einzudecken(6-10 ct), um dann später mit fettem gewinn wieder auszusteigen, und so eine chance kommt nicht oft!

die daten, die ich habe, verschaffen mir kein gutes gefühl, steige daher tendenziell eher nicht ein-soll euch aber nicht davon abhalten, gewinne einzufahren.


FAA Rejects Key WorldCom Bid for Telecom Network
Die FAA lehnt WCOMEs Angebot für ein Telekom-Netzwerk ab

Dow Jones Newswires
WASHINGTON -- The Federal Aviation Administration rejected WorldCom Inc.`s ( WCOME) bid to build a $3.5 billion next-generation telecommunications network, dealing the troubled company a blow that could dash its hopes of recovery.

Instead, it awarded the contract to Harris Corp. (HRS) of Melbourne, Fla., for a contract that could last up to 15 years. The initial term of the contract is for five years at $1.7 billion.

The FAA`s rejection of WorldCom came despite pleas by Federal Communications Commission Chairman Michael Powell for federal agencies not to cut their ties to WorldCom, which is reeling in the face of a $3.9 billion accounting scandal. As customers flee the company, the federal government has become an even more critical customer.

WorldCom did $462 million in business with the federal government last year, which included telecommunications services for the FAA. However, given WorldCom`s problems, those agencies will be reviewing those contracts when it comes time for renewal.

The new FAA contract would have been anything but routine. The FAA is attempting to redesign its telecommunications system from the ground up, integrating disparate systems into a unified, highly secure network.

WorldCom`s loss is a gain for the nation`s other major telecommunications players. Harris`s team included Raytheon Co. (RTN), Sprint Corp. (FON), and the four Baby Bell telephone companies, BellSouth Corp. (BLS), Verizon Communications Inc. (VZ), SBC Communications Inc. (SBC) and Qwest Communications International Inc. (Q).

But the FAA also rejected a bid by Lockheed Martin Corp. (LMT), which planned to use AT&T Corp. (T) as its subcontractor.

Under the so-called FAA Telecommunications Infrastructure contract, or FTI, Harris will modernize and operate a wide range of voice, data and video telecommunications services in the air traffic control system used by air traffic controllers to communicate with each other and with pilots. Harris will phase out older systems and replace them with a unified system.

"FTI is a critical element of our overall plan to modernize the national airspace system," FAA Administrator Jane F. Garvey said.

"We are very pleased that the FAA has chosen our team for the FTI program," said Phillip W. Farmer, chairman and chief executive of Harris.

Sprint vice president Tony D`Agata said that while it`s possible that WorldCom`s problems were a factor in the FAA`s decision, the agency "saw value" in the Harris team. "It`s a very strong team."

Sprint, which will be providing long-haul data services, expects to reap about 20% of the bid`s value.

Telecommunications analyst Scott Cleland of Washington`s Precursor Group said the FAA`s decision wasn`t unexpected. It would have been difficult for the agency to justify awarding a critical long-term contract to a company whose very future is in doubt.

But it`s "also unlikely WorldCom will lose any existing (government) business, " Mr. Cleland added.

A WorldCom spokeswoman said the FAA`s decision "certainly is not a reflection on WorldCom`s ability to provide state-of-the-art solutions to our customers. Our long-standing relationship of 13 years and numerous awards from the FAA for the quality of our service shows we have the expertise and the technical capabilities to meet the FAA`s requirements."

Trustee Says WorldCom Didn`t Make Interest Payments

Separately, WorldCom didn`t make a total of about $74 million in interest payments due Monday on two bond issues, an official for JP Morgan, who is the trustee on the issues, said Monday.

The company had about $36.9 million each in interest due on its 7 3/8% notes due Jan. 15, 2003 and the 7 3/8% notes due Jan. 15, 2006.

Unit Intermedia has about $5.3 million due on its 8 1/2% notes due Jan. 15, 2008.

A company has a 30-day grace period after missing a payment to make good on it or be found in default.

The interest payment on Intermedia`s 8 1/2% bonds due 2008 wasn`t made as of 4:30 p.m. EDT, said a spokesman at WL Ross & Co. LLC, New York, a firm that holds some WorldCom debt.

Officials for WorldCom weren`t immediately available for comment.

Many market observers had expected the company to miss the payments as it faces possibly the largest Chapter 11 filing in U.S. history. WorldCom values its assets at $104 billion, a figure that is double that of Enron Corp. (ENRNQ) and its related entities.

"It was mostly expected by the market," said one distressed debt analyst, who wished not to be named. "The bonds have been trading flat, or with no accrued interest, which means the market convention has been assuming since the fraud was announced ... that the payment would not be made."

The 7 3/8% notes due 2003 and 7 3/8% notes due 2006 were both trading in the mid-teens while the Intermedia 8 1/2% notes due 2008 were trading at about 25 1/ 2 bid, the analyst said.

Another clue came last week when the company announced that it wouldn`t pay the 60 cent-a-share dividend of MCI Group (MCITE) common stock that was scheduled to be paid Monday because of its current situation.

The next event in the process will come Tuesday when New York Supreme Court Judge Helen Freedman is scheduled to hold a hearing on an unusual request that would bar WorldCom from spending what remains of a $2.65 billion loan it drew down in May. On Friday, Judge Freedman denied a request, made by 25 lenders participating in the loan, for a temporary restraining order freezing the cash.

The move was a bold effort by the banks to reclaim what now appears to be the only source of money remaining to WorldCom, beyond any debtor-in-possession financing it would receive as part of a bankruptcy filing.

Banks and bondholders, the largest class of creditors with about $30 billion in bonds, were both reportedly considering providing such financing to WorldCom, in an effort to stake out a first-in-line position in the event of a bankruptcy.

The Wall Street Journal reported that Citigroup Inc. (C), J.P. Morgan Chase & Co. (JPM) and General Electric Co.`s (GE) financial-services arm GE Capital would likely provide WorldCom financing in a bankruptcy proceeding. Meanwhile, some of WorldCom`s largest bondholders are working on a similar proposal, according to the Financial Times.

Last month, WorldCom announced that it had improperly accounted for $3.9 billion in routine expenses as capital spending over the past five quarters -- thereby making the company look more profitable than it actually was. As a result, Chief Financial Officer Scott Sullivan was fired. He and former chief executive Bernie Ebbers last week refused to testify before a Congressional committee holding hearings on the matter.

-- Mark Wigfield, Nicole Bullock, Michael C. Barr and Johnathan Burns of Dow Jones Newswires contributed to this article.




Copyright (c) 2002 Dow Jones & Company, Inc.
All Rights Reserved

[leutzsch2001]

Klage Banken gegen WorldCom wird Bundesgericht übertragen, so wie WCOME es wollte, verschafft evtl. einige Tage Zeit, zumal keiner weiß, was nun Phase ist...auch leutzsch2001 nicht...


Banks` Case Versus Worldcom Transferred To Federal Court

NEW YORK -(Dow Jones)- A request by 25 banks for a court order to freeze WorldCom Inc.`s (WCOME) dwindling cash has been transferred to federal court from the New York Supreme Court, following WorldCom`s petition to do so.
Last Friday, 25 of WorldCom`s lenders, led by Deutsche Bank AG, asked the New York Supreme Court for a temporary restraining order to prevent the company from using the remaining $2.5 billion of a $2.65 billion bank loan.

The judge denied the request, and scheduled a Tuesday hearing on the issue.

The hearing was cancelled and nothing is scheduled so far in the U.S. District Court for the Southern District of New York, where the case now resides, a lawyer for WorldCom said.

He did not know whether a judge has been assigned.

WorldCom filed a petition to have the case transferred to federal court last week.




-By Christine Nuzum, Dow Jones Newswires; 201-938-5172
(This story was originally published by Dow Jones Newswires)
Copyright (c) 2002 Dow Jones & Company, Inc.
All Rights Reserved

[leutzsch2001]

WCOME verzögert Abfindungszahlungen von ca. 17.000 entlassenen Mitarbeitern, deren Ansprüche bei einem Insolvenzverfahren nur noch ein Bruchteil wert sind(scheinbar hat man wie andere Managern mehrere Millionen US-$ an stock-options, gehältern und darlehen gewährt....

WorldCom Will Pay Severance in Installments to Save Cash

WorldCom Inc. (WCOME), the telephone company that paid out hundreds of millions of dollars in stock options, loans and salaries to top executives, took a step that will likely conserve cash at the expense of the 17,000 employees it is laying off, Tuesday`s Wall Street Journal reported.
This past month, as analysts and investors already were speculating that WorldCom would be forced to file for bankruptcy protection, the company decided the employees would receive their severance payments in biweekly checks instead of the usual lump sum. That means if WorldCom makes a bankruptcy-court filing before then, the checks could stop and employees will find themselves in line with other low-ranking creditors.

"I think it`s a very huge injustice and a kick in the face," said Cara Alcantar, a staff scheduler at WorldCom`s wireless-activations department in Phoenix. She was laid off July 3 and her severance isn`t scheduled to start until Aug. 28. "We worked so hard for that company," added Ms. Alcantar, 29 years old, who worked at WorldCom for four years. She is owed a total of $2,550 in severance based on her pay of $850 every other week.

Employees laid off as recently as a month ago got their severance in a lump sum, she said, adding that workers with questions are finding it impossible to get through to the company`s severance hotline.

Brad Burns, a WorldCom spokesman, said the company changed its severance policy in mid-June "before our current situation came to light" and the change was part of an effort to "manage our cash as efficiently as possible." WorldCom was already the focus of bankruptcy speculation last month, but its troubles reached crisis proportions at the end of the month, when it revealed an accounting scandal likely to total at least $3.8 billion. The accounting mismanagement allowed the company to report five quarters of profit when it was actually losing money. The Securities and Exchange Commission, the Justice Department and Congress are conducting investigations into possible accounting fraud.

Wall Street Journal Staff Reporters Shawn Young and Ryan Chittum contributed to this report.




Copyright (c) 2002 Dow Jones & Company, Inc.
All Rights Reserved.

[leutzsch2001]

und hier müßte es einige audio-berichte in englisch geben...
http://www.nasdaq.com/asp/quotes_news.asp?symbol=WCOME`&sele…

[leutzsch2001]

jetzt drehen die amis voll ab:




scheinen zwei neue CEOs oder Top-Analysten zu sein...

mfg
leutzsch2001

[J3142]

WorldCom Gets $2 Billion Loan in Case of Bankruptcy

By Christopher Stern
Washington Post Staff Writer
Wednesday, July 17, 2002; Page E02

WorldCom Inc., the nation`s
second-largest long-distance phone
company, has secured a $2 billion
financing package that it would use to
operate under bankruptcy protection,
according to a source familiar with the
deal.

WorldCom, which has been accused
of fraud by the Securities and
Exchange Commission and is under
federal investigation, missed a $74
million interest payment on its debt
Monday. If the company does file for
bankruptcy protection, as is widely
expected, it would be the largest
corporate collapse in history.

WorldCom has been in crisis since
announcing last month that it had
improperly accounted for $3.9 billion in
expenses during 2001 and the first
quarter of this year, making its finances
look far better than they actually were.

The financing package, which was
organized by J.P. Morgan Chase &
Co., Citigroup Inc. and GE Capital,
will give the lenders seniority over other
creditors if the company files for
bankruptcy protection. The lenders and
WorldCom declined to comment on
the financing package, as did the
company. But sources confirmed
yesterday that the deal has been
completed.

WorldCom chief executive John W.
Sidgmore said last week that the
company has enough cash to continue
operating for about two more months,
but he said a bankruptcy filing could
come within the next two or three
weeks.

Speaking to reporters yesterday,
Federal Communications Commission
Chairman Michael K. Powell said he
has kept in close contact with the
company to ensure that a bankruptcy
filing does not lead to a sudden
telecommunications outage for its
customers, which include several
government agencies.

The FCC, which expects to participate
in any bankruptcy proceeding, is likely
to argue that the highest priority in
bankruptcy court should be maintaining
service for WorldCom`s 20 million
customers.

Under FCC rules, telecommunications
providers such as WorldCom must
receive permission from the FCC to
shut down their networks. But Powell
conceded that his powers are limited.
"If there is no money, there is no
money," Powell said during a news
conference yesterday.

Today, a federal judge in New York is
scheduled to hold a hearing on a
lawsuit filed by 25 banks that claim that WorldCom fraudulently secured a $2.65 billion loan in May.
The banks say the company was aware of the improper accounting when it got the loan, and they
have asked the court to block the company from spending the cash.

The court is not expected to rule today, but if it decides in the banks` favor, WorldCom would be
forced almost immediately into bankruptcy, according to sources familiar with the situation.


TechNews.com Home

[kyron7htx]

Da sind wir ja bald wieder bei 0,06.

[xoma]

Wenn es so weitergeht wie in den letzten Tagen werden wir heute noch die 0,06 sehen !

[prince2]

kann das mal jemand in kuren worten ausdeutschen??
danke für eure mühe vorab!

[landeskrone]

Ich hab da mal ne Frage zu Worldcom. Es sieht ja nun schon länger danach aus als sei die Firma zahlungsunfähig und neues Geld gibt es auch nicht. Gleichzeitig werden sie mit Klagen von Pensionsfonds und Banken überhäuft. Warum zögert man dann so lange mit dem Insolvenzantrag? Hierzulande nennt man das doch Konkursverschleppung. Zumal im Insolvenzfall bereits drei zahlungskräftige Unternehmen erklärt haben, das benötigte Geld für den Weiterbetrieb zur Verfügung zu stellen. Dann könnte man in Ruhe das Unternehmen sanieren und allen wäre geholfen. Also was kann der Grund für das Ausbleiben eines Insolvenzantrags sein? Zumal der Kurs ja eh schon im Keller ist, denn Börse hasst nichts so sehr wie ungewissheit. Ich denke nach Chapter 11 wurde der Kurs sich eher wieder erholen als ohne, weil dann die Nachrichtenlage sich ändern wurde und alle möglichen Sanierungsmassnahmen und Kredite kursbewegend sind.

[philae]

May 17, 2002
Dow Jones WebReprint Service®

Internap, With Losses, Depressed Stock, Looks To Rebound
By PAULA L. STEPANKOWSKY
DOW JONES NEWSWIRES
LONGVIEW, Wash. -- When the Internet bubble burst in 2000, Internap Network Inc.`s (INAP) stock price, which once traded as high as $111, tanked along with it.

Now, with well-publicized difficulties in the telecom sector, the Seattle company`s stock price is being further hammered as investors mistakenly associate it not only with Internet companies, but with telecom companies also, said Chief Executive Greg Peters in an interview.

Peters, who was brought in to lead the Seattle Internet traffic management company on April 4, says while Internap`s early customers included many Internet companies, the bulk of its more than 1,000 customers now are large corporations with large data needs. These include the Associated Press, J.P. Morgan Chase & Co. (JPM), Amazon.com Inc. (AMZN), the Nasdaq Stock Market, AMR Corp.`s (AMR) American Airlines unit, The Economist Group and Morningstar.

Internap`s proprietary Private Network Access Point, or P-NAP, routing technology acts as an intermediary between corporations and the nine Internet backbone services. The technology reroutes packets of data around traffic jams on the Internet by moving data temporarily onto Internap`s own private network.

Because Internap has agreements that allow it to use space on all nine backbone services, it can route its customers data to the service that has the least traffic on it at any given time, Peters said.

"The data growth side of the business has doubled over the past year, so we`re still seeing the demand," Peters said.

Internap Sees EBIDTA Profit By Year-End
Like many startup companies using the Internet, Internap racked up large losses as it built its business. Its accumulated deficit totals $724 million.

But a restructuring that began last year cut hundreds of employees, cleaned up the balance sheet and began narrowing losses, Peters said. Internap now expects to be profitable on an earnings before interest, taxes, depreciation and amortization basis in the fourth quarter. Profitability on a generally accepted accounting principles basis will come between three and four quarters after that, Peters said.

The company lost $9.8 million on an EBIDTA basis and $20.3 million on a GAAP basis in the first quarter. But the losses narrowed on a sequential basis and were sharply lower than the EBIDTA loss of $34.7 million and the GAAP loss of $266.8 million a year ago.

The company`s stock price, which was trading at 50 cents recently, does not reflect the restructured balance sheet and the revenue outlook for the company, Peters said, and the company is working with Nasdaq to maintain its listing.

"We`re growing top-line revenue and conserving cash and making sure we reach the financial metrics Wall Street is looking for us to reach," Peters said. "It`s in our hands to get the stock price up."

In addition to marketing Internap`s core technology, Peters will increase revenue by offering additional applications, such as voice over Internet or video, to customers in partnership with other companies.

"Our platform is enabling these products to actually be used by enterprise and carrier customers at a greater rate than ever," Peters said

Peters, who was CEO of Mahi Networks of Petaluma, Calif., spent a good part of his first 45 days on the job meeting with customers and service partners to better match the company`s services with customer demand, Peters said.

"I want to understand how they want products and services bundled that ride over our IT platform," Peters said.

Current service provider partners include VeriSign Inc. (VRSN) and Akamai Technologies Inc. (AKAM). Internap is working to forge partnerships with other companies to offer more services. Peters said there will be announcements of more partnerships in the coming quarters.

Telecom Difficulties Actually Helping Internap
Despite the difficulties of the past year, Internap`s revenue is rising. In the first quarter, it reported revenue of $32.6 million, a 7% increase over the fourth quarter and a 15% increase over a year-ago.

John Scanlon, Internap`s chief financial officer, said the company`s revenue will continue to rise in the second quarter. Internap added 142 new customers in the first quarter, a pace that`s likely to continue in the second quarter, Scanlon said.

The company`s gross margin rose to 26% in the first quarter from 20% in the fourth quarter.

The well publicized difficulties of such Internet backbone companies as WorldCom Inc. (WCOM), and Qwest Communications International Inc. (Q) has actually increase demand for Internap, Peters said.

As corporations continue to move their private networks to the Internet to get the most efficiency, the financial health of the companies that own the Internet backbone is of increasing concern to corporate clients, Peters said.

Companies concerned their backbone provider might go out of business are calling Internap because the company is backbone neutral and can help route a company`s Internet traffic over the network of any Internet backbone company, Peters said.

"They don`t want that risk, so they contract with us and we evaluate the quality of the backbones, and we can route traffic to areas that mitigate risk to customers," Peters said.

At the end of the first quarter, the company had $64.7 million in cash on hand. It spent $17.6 million in cash during the quarter. In the second quarter, the company has said it will have an EBIDTA loss of between $6 million and $8 million and use between $14 million and $16 million in cash.

Scanlon said the company "certainly" has enough cash to see it through EBIDTA profitability. After that, depending on revenue growth, the company would evaluate whether it would need to raise more cash.


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© 2002 Dow Jones & Company. All Rights Reserved.
The Publisher`s Sale of this WebReprint Service® Article Does Not Constitute Or Imply Any Endorsement
Or Sponsorship Of Any Product, Service, Company Or Organization.
REPRODUCTIONS REQUIRE FURTHER PERMISSION
www.djreprints.com

[xoma]

Neue Vereinbarung - Worldcom bekommt nun das Geld von den Banken !

Wednesday July 17, 5:00 pm Eastern Time
WorldCom Reaches Tentative Pact With Bank Lenders Over Loan

NEW YORK -- WorldCom Inc. (NasdaqNM: WCOM - News) (WCOME) reached a tentative agreement with the bulk of its bank lenders not to sell stock in its domestic units for 70 days.

Under the deal, the company would continue to have access to an undisclosed amount of cash that remains under a $2.65 billion loan provided by 27 bank lenders in May.

"This helps us basically achieve breathing room," said WorldCom attorney Marcia Goldstein, after a hearing in which the parties presented the deal to U.S. District Judge Jed S. Rakoff in Manhattan.

[leutzsch2001]

news aus dem wall street journal europe, habe es aber auf der internetseite nicht finden können, die z. t. kostenpflichtig scheint. da die übersetzungsmaschinen mehr als mies sind, hier einige auszüge, z. t. übersetzt:


level3 makes an offer for a weakend rival
level3 macht ein angebot für einen geschwächten rivalen


level 3 communications inc., flush with capital from an investor group that includes warren buffett, has ofered $ 1.1 billion for williams communications group, its boldest move yet as a would-be consolidator in the troubled telecomunications sector.

level3 bietet 1.1 milliarden für williams comm. das geld der investorengruppe kommt z. t. auch von waren büfett(?)

that bid comes as williams communications is finalizing a deal with another investor, leucadia national corp., that would enable williams communications, tulsa, oklahoma, to emerge from bankruptcy-court proceedings as a standalone company controlled by bondholders, according to ppl familiar with the matter.

die firma wird von anleihebesitzern kontrolliert. momentan gibt es verhandlungen mit anderen potentiellen käufern

williams communications and its creditors have been in negociations to cement a deal that would give bondholders a 55 % equity stake in the company.

williams und die gläubiger werkeln an einer lösung, die den anleihebesitzern einen 55 % anteil an der firma verschafft.

vielleicht droht so ein schicksal ja auch wcoeq...

große preisfrage: wie hoch waren verschuldung und aktiva von level3?


nebenbei: daß wcoeq alle dienste einstellt, ist zu fast 100 % ausgeschlossen. frage ist nur, welchen teil ihr an der fortgeführten firma habt, wenn die großen fragen (der global players) geklärt sind.

im 2.wk sind auch generäle plattgemacht worden(wcoeq), und trotzdem ging der krieg weiter(z. b. telefonverkehr, um das beispiel umzumünzen), unter der selben fahne(das label worldcom bleibt).