Back To 1995 - Chapter 1037

Chapter 1037 The arm cannot twist the thigh

If the name is not correct, the words will not go well. If the original sin of Shitong cannot be cleaned up, then no matter what Shitong changes the brand, the outside world will look at Sitchmore and the others with colored glasses.

No matter how he feels about Bernard Ebbes, Sitchmore must cut clean with Ebbes, and pour all the black pot and dirty water on Ebbes.

But for these words, everyone present didn’t take it seriously. They came today to swallow a piece of Shitong’s flesh, and they didn’t really help Shitong reorganize. Shitong was really resurrected. , I guess I can’t sit still.

“WorldCom has experienced some misfortunes, but those who stay at WorldCom want to change everything. We established a special board committee of WorldCom to reorganize WorldCom and let the world see a new WorldCom…”

When Ebes was released, Sitchmore’s impassioned speech probably aroused the enthusiasm of a group of believers, and the stock price rose steadily.

But who are the people present today? Who has never cut a few handfuls of leeks? How could they be fooled by a technical background like Sitchmore.

Needless to say, American Telecom has always been a representative company of “new technology” in the telecommunications industry. Don’t be too slippery with various concepts and gimmicks. I think there were only a few users back then, and the valuation was fired to more than tens of billions of dollars. , Even Telephone and Telegraph Group, Enron, General Electric, Microsoft, Deutsche Bank, Goldman Sachs have cut the leeks, and other Silicon Valley venture capital, overseas consortiums, and various foundations have invested in American Telecom, which is simply not too much. Back then, many institutions wanted to invest in American Telecom, but they didn’t have the qualifications…

Philip Anschutz, who was sitting across from Eiger, was also a good player. Before the collapse of Nasdaq and the bursting of the Internet bubble, this product united with America Western Telecom. The stock price has been fired to an epic level. In that merger, Philip Anschutz cashed out nearly two billion dollars. Although he is still a little timid compared to a certain rich man who was born in the Internet, he still plays It’s pretty slippery.

Just this group of people sitting in the conference room, how could it be possible to be fooled by Sitchmore? He also wanted to fool all the telecom giants present and send money to WorldCom to complete the reorganization, which was completely overthinking.

Sure enough, as soon as Sitchmore said something, a voice appeared, “President Sitchmore, I think that if WorldCom wants to complete the restructuring, it must repay all the debtors’ debts before it can go on the road again. America Telecom is willing to help Shitong is out of trouble!”

James Crowe said to Sitchmore with a smile on his face, he came today to act as a **** to tear up his predecessor!

Looking at Crowe with a “kind heart”, Sitchmo choked for a moment, but Crowe’s words were like detonating a keg of explosives, followed by Philip Anschutz from Quest Telecom, and Telephone and Telegraph Group, Southwestern Bell SBC Telecom, Sprint and other telecom giants have also expressed their willingness to “donate generously”, but the expressions on the faces of the representatives of these respective giant companies are almost as good as “eating the world”. Tong” was written on his face.

The various telecommunications companies that came here today basically have their own ulterior motives, or they all want to take advantage of this opportunity to get rid of some troubles.

After the Internet crashed, the telecommunications industry, which was born on the basis of the new telecommunications bill of the previous leader and the wave of the Internet, has also fallen into a trough, and is even on the verge of a thunderstorm.

Just like Quest, when the telecommunications industry was booming, the executives of Quest Telecom could cut leeks unscrupulously and concoct high income. Philip Anschutz will increase his income every year after Quest Telecom went public. With 15% revenue, the net profit will also increase by 20%. This is not a year, but every year!

This is louder than WorldCom back then. American Telecom only dared to brag about various concepts, but it didn’t dare to say that it made more money. It was just an empty Quest Telecom. In those few years, the leeks actually believed the nonsense of Quest Telecom!

Not only leeks, but even Wall Street institutions are so “believed”, maybe everyone knows that it is the emperor’s new clothes, but so what, facing the soaring share price of Quest Telecom, who doesn’t want to get a share Soup, who can withstand the ever-increasing numbers in the stock account every day, even if they know it’s a thunder, but before it explodes, no one wants to wake up.

Quest Telecom has boasted a lot in the past few years. In order to brag, it has also moved a lot financially. It must not be as courageous as WorldCom, but now that the tide has receded, Quest Telecom is also embarrassed. stuck in the sand.

In order to get Quest Telecom out of the predicament, Philip Anschutz came here this time to acquire the industry owned by WorldCom, and to blow up the ghost story of Quest Telecom again. He also wanted to cut another 2 billion Beautiful leeks!

Facing a host of opponents with their own ulterior motives, Sitchmore still wants to save the last face and family fortune for WorldCom, “WorldCom is willing to accept investment from other telecom companies, and WorldCom still has 20 million local users and more than Five million overseas users, as long as the reorganization is successful, WorldCom will still be…”

What Sitchmore means is that he is willing to let American Telecom, Verizon, Southwestern Bell, and Telephone and Telegraph Group invest in WorldCom, get the equity of WorldCom, and enter the board of directors of WorldCom. This is a bit humiliating, but Helpless way to keep WorldCom from being split.

But Sitchmore hadn’t said what he wanted, but he was interrupted by James Crowe again. He came today to disrupt the situation. How could he see Shitong overcoming the difficulties.

“President Sitchmore, we are all aware of WorldCom’s current troubles. If we want to complete the restructuring plan, we must repay the debts. American Telecom is willing to acquire MCI at a price of five billion dollars, and assume the responsibility of WorldCom’s 13 Billions of dollars in debt!”

James Crowe is clearly telling Sitchmore that he wants to be an empty-handed white wolf, and let companies such as American Telecom take advantage of them, send money to WorldCom for nothing, and help WorldCom through difficulties. The dividends that may be obtained from WorldCom are basically daydreams!

Sichmore blushed from Crow’s anger, and bought MCI Telecom under WorldCom for US$5 billion.

At that time, WorldCom acquired MCI, but it cost 40 billion US dollars. Even if it shrinks, MCI is the second largest telecommunications company after the Telephone and Telegraph Group. Long-distance telecommunications and international calls have always been the most stable in the telecommunications industry. The most profitable business, especially now that the phone market in the telecom industry is somewhat declining.

The core of WorldCom’s reorganization is MCI Telecom. It is expected that after the re-completion, the WorldCom brand will be abandoned and the MCI brand will be re-used.

“The Telephone and Telegraph Group is willing to acquire MFS Telecom!”

“Southwest Bell is willing to acquire UUnet Telecom!”

“Verizon asks to buy WorldCom’s original high-speed broadcast telecommunications company!”

“Sprint wants to revive China Telecom and IDB Telecom through an agreement with WorldCom!”

For a while, the meeting room became a vegetable market, and WorldCom became that dish. Various telecom companies named and requested to obtain the brand under WorldCom. Ebes bought so many telecom companies back then, but he basically didn’t digest them. , Today, it just happened to be split off by American Telecom and other companies, without any trouble. After decades of hard work, Ebes finally served as a courier. I don’t know how he would feel when he saw the news in prison.

The telecommunications companies present today have a tacit understanding and did not compete with America Telecom. Obviously, they have received hints from the Elephant Party or the Donkey Party behind them, even though Verizon really wants to compete with America Telecom for the fat of MCI. , and finally held back abruptly.

Even if it is snatched up, whether the deal can be reached in the end still needs to pass the hurdles of the Federal Bankruptcy Court, the Federal Securities Commission, and even Capitol Hill. WorldCom is still in a state of bankruptcy protection, and it was not formed temporarily by people like Sitchmore. WorldCom’s board of directors has the final say, and it doesn’t have to listen to the federal bankruptcy court.

The representatives of Verizon Telecom also know that those gangsters support America Telecom, and Verizon doesn’t need to humiliate itself.

However, it is not that it did not **** MCI Telecom from America Telecom. Quest Telecom suddenly made an offer, as if it was going to challenge America Telecom. Iger just glanced coldly at Philip Anschutz.

The representatives of other telecommunications companies in the meeting room were all in the posture of watching a show. Many people felt that Quest Telecom was going to be unlucky. For those who dare not fight back, if you don’t believe me, ask a large group of giant companies such as LVMH Group, Microsoft, and General Electric that are still licking their wounds.

Philip Anschutz can’t do anything about it. He can only bite the bullet. If he doesn’t want Quest Telecom’s financial problems to explode, he must make big news, such as letting Quest Telecom acquire MCI Telecom. Quest’s stock price has risen again, and he doesn’t want to step on the sewing machine with Ebes!

Sitchmore was shocked and angry, but helpless. James Crowe was telling the truth. If the debt was not repaid, the reorganization would not be completed. But if you want to repay the debt, you have to borrow money. Now Wall Street institutions and banks are waiting. If Shitong repays the money, how can it lend money to Shitong.

But if the WorldCom family property is really sold out, then the final reorganization is completed, what is left of WorldCom? !

When Sitchmore was worried and helpless, a member of WorldCom’s temporary board of directors walked in with a mobile phone and handed it to Sitchmore.

A few minutes later, Sitchmore returned to the conference room, but his expression had become sluggish and numb, and his spirit had dissipated visible to the naked eye.

Looking at the direction of Eiger and James Crowe with a complicated look, Sitchmore opened his mouth and tried several times before he said, “The board of directors of WorldCom can agree to the transaction of American Telecom, but requires that American Telecom Raise the purchase price!”

(end of this chapter)