PARIS-AT&T Wireless Services Inc.'s technology future was brought into question last week as were the carrier's upcoming third-quarter financial results.Speaking at the UMTS and Mobile Internet conference in Paris, Leo Nikkari, AT&T Wireless' director of 3G industry relations, said the carrier had yet to...
NEW YORK-Citing increased competition and challenges integrating former WorldCom Wireless customers, Lehman Brothers lowered its net customer additions guidance for AT&T Wireless Services Inc.'s third quarter from 300,000 subscribers to 65,000 customers.Lehman Brothers analyst John Bensche said the increased competition concern was due to...
NEW YORK-AT&T Corp. confirmed it received a subpoena from the New York Attorney General's office in regards to an investigation into whether Citigroup's Salomon Smith Barney unit artificially raised its rating on AT&T Corp. prior to its initial public offering in 1999 of AT&T...
NEW YORK-Salomon Smith Barney analyst Jack Grubman has resigned following widespread criticism of his involvement with the telecommunications industry, including the collapse of WorldCom.Grubman, who recently testified before Congress in July during the investigation of the WorldCom collapse on his role as an analyst...
NEW YORK-Major wireless players have complied with the Securities And Exchange Commission's guidelines to file their certifications confirming their financial results. Foreign-based companies, who are not required to comply, however filed with the SEC under the recently signed corporate fraud law.Motorola Inc., Qualcomm Inc.,...
WASHINGTON-The wireless market is competitive so the Federal Communications Commission should not impose exit regulations on mobile-phone carriers, the Cellular Telecommunications & Internet Association told FCC Chairman Michael Powell on Thursday."Requiring providers to secure permission to discontinue their services, however, offers no countervailing...
ATLANTA-Cingular Wireless L.L.C. completed an agreement with WorldCom Inc., allowing WorldCom Wireless customers the opportunity to transfer to Cingular with rate plans comparable to those WorldCom offered. Both companies will send letters to customers explaining the transition process."We want to ensure our resale customers...
NEW YORK-WorldCom and Cingular Wireless reached a tentative agreement yesterday, settling the dispute between the two companies over the possible transfer of approximately 300,000 WorldCom wireless customers to Cingular's network.Details of the agreement are not expected until certain parties involved with WorldCom's bankruptcy proceedings...
NEW YORK-WorldCom Inc. and Cingular Wireless L.L.C. reached a tentative agreement yesterday settling the dispute between the two companies over the possible transfer of approximately 300,000 WorldCom wireless customers to Cingular's network.Details of the agreement are not expected until certain parties involved with WorldCom's...
NEW YORK-WorldCom Inc. has asked a bankruptcy court to not allow Cingular Wireless L.L.C. to transfer approximately 300,000 of its resale customers to its network due to Cingular's illegal solicitation of WorldCom customers.Cingular said it began to court WorldCom customers following its termination of...
CLINTON, Mass.-Citing the company's recent bankruptcy filing and the pending restatement of its financial statements for 2001 and the first quarter of 2002, the Nasdaq Listing Qualifications Panel informed WorldCom Inc. that its WorldCom Group Common Stock, MCI Group Common Stock and 8 percent...
REDMOND, Wash.-AT&T Wireless reported 417,000 net customer additions for the second quarter, well below previous guidance and analysts' estimates of around 550,000 net additions for the quarter. The carrier blamed a large part of the shortfall on resale partner WorldCom Inc.'s decision to exit...
CLINTON, Mass.-WorldCom Inc. reported that the U.S. Bankruptcy Court in the Southern District of New York approved $750 million in interim financing the company said would provide sufficient finds to continue operations, pay employees and continue service to customers. A hearing for final approval...
CLINTON, Miss.-WorldCom is expected to file for Chapter 11 bankruptcy protection by early next week, according to a recent report in The Wall Street Journal.The bankruptcy filing, which would stand as the largest in U.S. history, would allow the company to continue to operate...
A story that appeared on the rcrnews.com Web site on July 18 misquoted Paul Margie, wireless legal adviser to FCC Commissioner Michael Copps. Margie should have been quoted asking the question, "Are the costs worth the benefit?"Copps released a white paper calling for the...
PARIS-Rating agency Standard and Poor's said French vendor Alcatel has a $30 million exposure to WorldCom Inc."The quality of receivables is good following some failures in the marketplace in the telecom sector," said Leandro de Torres, the agency's director of corporate ratings in Europe,...
CLINTON, Mass.-Adding to investor fears concerning the future of WorldCom Inc., the company's board of directors said it would not pay the 60 cents per share dividend to MCI group common stockholders that was scheduled for July 15. WorldCom did reaffirm that each outstanding...
WASHINGTON-Reps. Billy Tauzin (R-La.), chairman of the House Commerce Committee, and Fred Upton (R-Mich.), chairman of the House telecommunications subcommittee, urged President George W. Bush on July 5 to protect the telecom infrastructure if WorldCom Inc. goes bankrupt."We urge that all necessary steps should...
McLEAN, Va.-As the telecommunications industry tries to recover from the double blow of a Wall Street meltdown and recent accounting scandals, startup companies meeting here this morning were told that people seeking jobs today are looking for ethical companies.Startups heard that building management teams...
WASHINGTON-President George W. Bush named Michael Powell, chairman of the Federal Communications Commission, to serve on his newly created Corporate Fraud Task Force."I gained a heightened appreciation for the vital role investor confidence plays in the successes or failures of companies in the telecom...
During the past two years, one event after another has left the international wireless landscape looking like a battleground, with numerous casualties and few, if any, players left unscathed.Spectrum auctions in the United States and Europe have helped lead the industry into its current...
NEW YORK-A strong correlation exists between poor corporate governance and the spate of debt downgrades to junk-bond status and, conversely, a link is emerging between socially responsible company practices and rating stability, said Diane Keefe, manager of the $19 million Pax World High Yield...
Editor's Note: In a new series, RCR Wireless News takes an in-depth look at nationwide wireless players, including their strengths and challenges in an ever-changing wireless environment. In this third installment, RCR Wireless News reporter Hilary Smith tackles the nation's third-largest carrier, AT&T Wireless.As...
BURLINGOTN, Mass.-Shares of Lightbridge Inc. took a hit Friday after the mobile business solution provider released new, lower-than-anticipated revenues for the second quarter ending June 30, 2002.The company said it now expects to report revenues between $33 and $34 million and a loss of...
