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- This method refers to the practice of legally exchanging telecommunications capacity rights among providers so as to justify the recording of new revenues. This practice was often done without any money, goods, or services actually changing hands, thereby creating the illusion of productive activity.
www.investopedia.com/terms/g/globalcrossing.aspGlobal Crossing: What It is, How It Works, Example - Investopedia
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Jan 26, 2023 · Key Takeaways. Global Crossing was a large telecommunications provider whose famous bankruptcy in January 2002 followed that of the Enron Corporation in December 2001. At the time, Global...
- Jason Fernando
Global Crossing Limited, was a telecommunications company that provided computer networking services and operated a tier 1 carrier. It maintained a large backbone network and offered peering, virtual private networks, leased lines, audio and video conferencing, long-distance telephone, managed services, dialup, colocation centres and VoIP.
Mar 8, 2024 · Global Crossing, a once-prominent telecommunications provider, filed for bankruptcy in 2002 amidst allegations of accounting irregularities, echoing the dot-com bubble’s excesses. This article explores its history, including its aggressive accounting practices, legal settlements, and eventual acquisition by Level 3 Communications, providing ...
Level 3 Communications has agreed to acquire Global Crossing for $1.9bn in an all-paper deal that will significantly expand Level 3’s reach and customer base, reports the FT.
Mar 21, 2002 · Global Crossing and its executives gave more money than Enron to federal candidates– $3.5 million since 1998. 55% of the total went to Democrats, 45% to Republicans, according to the Center for...
Aug 10, 2021 · US startup carrier Global Crossing Airlines has announced that it has finally operated its first revenue-earning flight. The new charter operator broke the news this morning, having flown several services over the weekend.
Jan 29, 2002 · Although the Bermuda-based company is complicated, the story of its failure is simple. Global Crossing sank too much money into an international network for high-speed Internet access.
