MCI Planning to Write Down Phone Assets
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MCI Inc., the long-distance provider, said yesterday that it planned to take a $3.5 billion charge in the third quarter to better reflect the loss in value of its phone and data networks.
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NOVEMBER 04, 2004 (IDG NEWS SERVICE) - MCI Inc. reported a $3.4 billion third-quarter loss today, due mainly to a write-off of the value of its assets, as the company&#39;s efforts to recover from bankruptcy were
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Telecom giant Verizon Communications Inc. has reportedly floated an informal buyout offer for MCI Corp., the long distance telephone company that has been awash in takeover speculation in the wake of regional phone company SBC Communications Inc.'s $16 billion deal for AT&T Corp.
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MCI and Qwest Communications International, two of the country&#39;s largest phone companies, reported large losses in the third quarter, driven by a continued decline in revenue and one-time write-offs.
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MCI Inc. reported a $3.4 billion third-quarter loss on Thursday, due mainly to a write-off of the value of its assets, as the company's efforts to recover from its bankruptcy were hampered by stiff competition in the long-distance telephone service market.
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MCI Inc.&#39;s quarterly loss ballooned to $3.4 billion as the No. 2 US long-distance company wrote down the value of its assets due to a price war in long-distance services, MCI said on Thursday.
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Sprint Nextel said yesterday that it may write off as much as $31 billion related to its 2005 merger with Nextel Communications.
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Not since the introduction of the cell phone has the plain old home phone been in for such upheaval. The device long used for landline calling, recording voice mails, and storing phone lists may find itself replaced.
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Investor's Business Daily - Philips Semiconductors has a plan to cash in on the craze for cool new features in cell phones.
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MCIÂ on Monday announced an approximately $3.5 billion charge against its third-quarter financial results to reflect a decrease in the value of the company's assets.
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Sell it or spin it off? Motorola is considering various options to sort out its mobile phone division which lost the company $1.2bn in 2007.â¦
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By Jeff Bertolucci Kiplinger's Personal Finance  Until recently, bargain-basement portable PCs were fire-sale closeouts saddled with obsolete software. Not anymore.
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The personal computer maker said it planned to sell its slumping cellphone unit so that it could focus on its personal computer business.
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Sprint Corp. said Monday it is coming out with a suite of services aimed at helping companies better manage cell phones and PDAs they issue to employees, including a feature to remotely erase sensitive information from devices that are lost or stolen.
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Inscribe this stock with "losing customers, bad debt terms, and, maybe, bankruptcy."
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Investor's Business Daily - With the cell phone market shifting from voice-focused handsets to multi-featured smart phones, Nokia has reorganized its business units to target multimedia and other data services.
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Good news for investors in telecom bad boy MCI (Nasdaq: MCIP): Over in Luxembourg, the European Court of Justice&#39;s Court of First Instance ruled in MCI&#39;s favor on an appeal of an antimonopoly ruling Tuesday.