Lessons from the Fall of Global Crossing, Qwest, Exodus, Adelphia Communications and More

Dimitris N. Chorafas

Chapter 9 in Rating Management’s Effectiveness, 2004, pp 198-224 from Palgrave Macmillan

Abstract: Abstract This is a chapter on lessons learned from basket cases: those of telecommunications companies that have misrepresented facts and figures, have taken investors to the cleaners, or nearly so, and finally run for cover under Chapter 11. They were all highly leveraged companies of the late 1990s which crashed when hot air, their most important asset, escaped to the environment. Investors finally understood the Ponzi game behind the supposedly ‘huge cost savings’ connected to the ever-increasing capacity for broadband transmission offered by the law of the photon.

Keywords: Cash Flow; Audit Committee; Exchange Commission; Audit Committee Member; Restructuring Charge (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-00590-7_9

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DOI: 10.1057/9780230005907_9

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