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

In: Rating Management’s Effectiveness

Author

Listed:
  • Dimitris N. Chorafas

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.

Suggested Citation

  • Dimitris N. Chorafas, 2004. "Lessons from the Fall of Global Crossing, Qwest, Exodus, Adelphia Communications and More," Palgrave Macmillan Books, in: Rating Management’s Effectiveness, chapter 9, pages 198-224, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-00590-7_9
    DOI: 10.1057/9780230005907_9
    as

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