TheDeal.com ::A bankruptcy court has approved the liquidation plan of At Home Corp., ending the saga of the former provider of high-speed Internet access company. According to a Securities and Exchange Commission filing made Thursday, Aug. 22, the plan was agreed to Aug. 15 in the U.S. Bankruptcy Court for the Northern District of California. Continue reading At Home’s saga ends in liquidation
Americas Network :: How much money the telecommunications industry has contributed to various Congressional campaigns. Top recipients have included Chip Pickering (R-Miss.) and Billy Tauzin (R-La.) in the House and Max Cleland (D-Ga.), John Kerry (D-Mass.) and Jean Carnahan (D-Mo.) in the Senate; not surprisingly, all are members of the two telecom-related subcommittees. According to … Continue reading The fox guarding the chicken house
Red Herring 2002 Innovators :: Ray Kao has been in the telecom business too long; knows too much; hears too many sad stories; and sometimes worries too much about the fate of the industry, which is in the severest downturn he’s ever known. As the founder, CEO, and chief technical officer of Polaris Networks, he … Continue reading Polaris shines
Red Herring 2002 Innovators :: If you live near San Francisco, you may have seen Paul Butterworth, the 51-year-old cofounder and chief technology officer of AmberPoint, a Web-services company that’s his third startup. He’s the one zipping around in the fiery red Ferrari 500. He is also one of the key architect of the relational … Continue reading A butter entrepreneur
New York Times :: Many telecom deals conducted in the late 1990’s demonstrate how executives were able to enrich themselves through holdings in outside companies from which they bought equipment. Continue reading Deals Within Telecom Deals
Washington Post :: A complex deal between AOL Time Warner Inc. and its Internet provider, WorldCom Inc., accounted for part of the $49 million in advertising and commerce revenue that AOL acknowledged last week might have been booked improperly, according to sources familiar with the matter. Continue reading WorldCom Deal With AOL Under Scrutiny
Wall Street Journal :: Every month from 1998 through much of 2000, designated staffers in WorldCom Inc.’s credit department in Tulsa, Okla., prepared lists of customers who hadn’t paid their telephone bills, many of them in bankruptcy-court proceedings. Every month they forwarded the reports to the controller’s office, recommending that, as those accounts were unlikely … Continue reading Accounting Issues at WorldCom Speak Volumes About Disclosures
Wall Street Journal :: Deutsche Telekom AG reported a sharply wider first-half net loss despite a 15% rise in revenue, as the German telecommunications giant struggles to reduce its massive debt. Continue reading Deutsche Telekom Reports Sharply Wider 1st-Half Loss
New York Times :: Qwest Communications International, the debt-laden telephone company, announced today that it had agreed to sell its yellow pages directories business to a group of financiers for $7.05 billion in a move that would help it avert a bankruptcy filing.Qwest shares rose 25 percent in morning trading, up 56 cents, to $2.80. Continue reading Qwest to Sell Yellow Pages for $7 Billion
Washington Post :: The Securities and Exchange Commission has ruled invalid an accounting rationale used by some telecommunications companies to justify deals in which they appeared to trade access to one another’s wires, according to industry sources and a memo detailing the agency’s position. Continue reading SEC Targets ‘Swap’ Deals by Telecom Firms
