Telecoms face a perfect storm in 2002 upheaval
New York AP reports telecom faced dramatic 2002 turmoil with WorldCom collapse and Ebbers fraud charges. The sector saw 500000 jobs lost and over two dozen carriers filing for bankruptcy amid excess capacity and the ongoing last mile challenge for broadband.
MENTIONED IN THIS ARTICLE
New York
Hollywood
Wall Street
Telecom
WorldCom Inc
Bernard Ebbers
Ebbers
Global Crossing Ltd
Qwest Communications International Inc
Yankee Group
BankruptcyData.com
Bull Market Expected in 2003 Amid Earnings Hope
Analysts foresee a rebound on Wall Street next year as improving earnings and a strengthening economy boost confidence. While some warn against overoptimism, others expect double digit returns with low rates helping spending and corporate reform restoring investor trust after years of declines.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Charles H. Blood Jr
Brown Brothers Harriman & Co
Brinker Capital
Barker French
Robert Froehlich
Deutsche Asset Management
Froehlich
Federal Reserve
Congress
C. Kim Goodwin
State Street Global Advisors
Corporate malfeasance era tainted by superficial finance
Executives ignored long term shareholder interest while accountants faltered and analysts were co opted. Wall Street fixated on short term earnings and stock options fueled windfalls, prompting financial gymnastics over solid practice. Arthur Andersen’s shredding of Enron documents and conflicts of interest marked a historic failure.
MENTIONED IN THIS ARTICLE
White
Barry Barbash
Securities and Exchange Commission
Shearman & Sterling
Barbash
Wall Street
Enron
WorldCom
Arthur Andersen
Texas
New York
Spitzer
Winners and losers in business in 2002
A decade wrap of a grim 2002 business year with scandals and recoveries. Notable figures include Enron era critics and executives like Jack Welch, Jean Marie Messier, and Bill Gates, plus Eliot Spitzer and Carl Icahn shadows. The piece names firms such as Vivendi Universal, ImClone, AOL Time Warner, Microsoft, Hewlett Packard, and Nissan, highlighting losses, probes, restructurings, and strategic bets that shaped fortunes.
MENTIONED IN THIS ARTICLE
Jean-Marie Messier
Vivendi Universal
Messier
Vivendi
Also Mentioned on This Page
John M. Daly Jr
Standard & Poor
Tures
Andersen
New York Securities
Washington
Harvard Business Review
Jack Welch
General Electric Co
Welch
Jean-Marie Messsier
Martha Stewart
Stewart
ImClone Systems
Sam Waksal
New York Stock Exchange
Steve Case
America Online
Time Warner
Case
AOL Time Warner
Sanford Weill
Citigroup
Weill
Jack Grubman
At&t
Grubman
Arthur Levitt
Harvey Pitt
Levitt
Pitt
SEC
Warren Buffett
Oracle of Omaha
Buffet
Coca-Cola
Gillette
Eliot Spitzer
Microsoft
Bill Gates
Gates
Carly Fiorina
Fiorina
Hewlett Packard Co
Compaq Computer
Hewlett Family
Carlos Ghosn
Nissan Motor Co
Nissan
Ghosn
Michelin North America
Renault SA
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