October 31, 2003
Judge OKs MCI reorganization plan
Emergence from bankruptcy expected early next year
Recommend ThisMCI should emerge from Chapter 11 bankruptcy protection early next year, company executives said Friday after a federal judge approved the carrier's reorganization plan.
The plan was approved Friday by Judge Arthur Gonzalez of the U.S. Bankruptcy Court for the Southern District of New York. MCI declared bankruptcy last July even as it continued to disclose a string of accounting irregularities that added up to $11 billion. Since then the company has brought in new members for its board of directors and hired several new top executives, including Chairman and CEO (Chief Executive Officer) Michael Capellas.
The company, still legally called WorldCom, will officially change its name to MCI when it emerges from bankruptcy, Capellas said in a conference call Friday after the judge's decision was announced.
The company expects to have $2.3 billion of cash and a net debt of $3.5 billion at the time it emerges from bankruptcy, said Robert Blakely, executive vice president and chief financial officer.
White Paper
D2D Virtual Tape Library Replication Primer
This whitepaper explains the terminology and concepts behind Data Replication technologies and establishes some sizing rules through worked examples. Learn the new paradigm in disaster tolerance—protect data anywhere.
Download now »
White Paper
An Alternative to Virtualization for Datacenter Cost Savings
Server virtualization is a popular option for dealing with mounting datacenter costs. Another equally promising approach is the use of an Application Delivery Controller. Citrix NetScaler provides a low-cost way for organizations to reduce their server count and accrue cost savings from a reduction in space, cooling, power and personnel.
Download now »
White Paper
Why Your Firewall, VPN, and IEEE 802.11i Aren't Enough to Protect Your Network
The emergence of WLANs has created a new breed of security threats to enterprise networks.
Included in HP ProCurve WLAN solutions is security technology that alleviates threats from WLANs through:
* Monitoring wireless activity inside and out of the enterprise
* Classifying WLAN transmissions into harmful and harmless
* Preventing transmissions that pose a security threat to the enterprise network
* Locating participating devices for physical remediation
White Paper
Bringing the Edge to the Data Center
Effectively address data protection challenges, implementing solutions that help store and protect business–critical data while cutting costs and improving efficiency and reliability.
Download now »
- CIO Viewpoints: Exchange 2007 Risks and Mitigation Strategies | White Paper
- Tackling the Top Five Network Access Control Challenges | White Paper
- Opportunities and Challenges with the Convergence of Data Center Networks | White Paper
- Network Operating System Evolution | White Paper
- How Operating Systems Create Network Efficiency | White Paper
Sign up to receive Communication/Collaboration Resource Alerts
Return on Information: Google Enterprise Search pays you back. Get the facts.Analytics: Use your data to drive insights that enable better decisions.See how AT&T can help protect your network. Make IT Work As One at novell.comHP ProLiant G6 Servers. Perform like a superstar, Save like an accountant.HP ProLiant G6 Servers. Perform like a superstar, Save like an accountant.Unified Communications: Thoughts, Strategies and Predictions. Join the discussion.Increase UPS efficiency without sacrificing protectionIn less than 45 minutes, Palisade Systems protects your dataA smarter approach to IT is needed. That smarter approach is IBM CloudBurst.
Complimentary Energy Efficiency Kit - Cut Energy Costs NowRestrict internet access with GFI WebMonitor™. Now 30% Off! www.gfi.com/web-filterToday’s IT means business. New eBook shows you how to align your IT investments.A new level of interoperability. Make IT Work As One at novell.comLimited-time offer: Save up to $100 on Polycom phones. 64-page prescriptive guide to security, compliance, and IT operations.Learn about Foundations of Green IT, from CTO Marty Poniatowski802.11n Drives an Architectural EvolutionSee IBM CloudBurst's self-service user interface in actionVideo: Simplifying the IT environment for better productivity with IBM
