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Verizon and the Bully Bells defend their aggressive tactics in the telecom wars.
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AT&T Says It Understated Costs in 2001 and 2002
AT&T Corp. disclosed yesterday that it understated expenses by $125 million in 2001 and 2002, and it blamed the accounting error on two employees who it said had attempted to circumvent the company's internal financial controls.

AT&T Unit Converts Bankruptcy Filing
AT&T Latin America Corp. said yesterday that it converted the involuntary bankruptcy case filed by its creditors last week into a voluntary one that gives the company more control over the process.

In the News
WorldCom's Last Hope?: With time running out, John Sidgmore must move fast. Saving the company will require deep cuts. (Washington Techway, June 18, 2002; 7:15 AM)

Qwest Names CEO to Lead Shift Back to Local Service (Post, June 18, 2002)

Qwest CEO Joseph Nacchio Resigns (Post, June 17, 2002; 12:47 PM)

Ebbers to Get $1.5 Million A Year for Life (Post, May 17, 2002)

WorldCom Debt Rated Junk by 2 Firms: Phone Company Plans More Cuts, Asset Sales (Post, May 10, 2002)

Sidgmore's Local Connections Extensive (Washtech.com, April 30, 2002; 11:11 AM)

Ebbers Resigns as WorldCom Chief (Post, April 30, 2002; 1:27 PM)

Testing the Telecom Giants' Economic Resilience (Post, April 27, 2002)

GSA Lets Verizon Offer Services in Baltimore (Government Computer News, April 25, 2002; 2:07 PM)

The Honeymoon Ends: Digex and WorldCom struggle to make their relationship work in a brutal downturn (Washington Techway, April 23, 2002; 7:32 AM)

WorldCom Warns Of Lower-Than-Expected Revenue (Newsbytes, April 22, 2002; 5:19 AM)

Qwest Dumps 2,000 Additional Workers (Newsbytes, April 19, 2002; 11:40 AM)

Bell South Q1 Profits Up, Revenue Down (Newsbytes, April 19, 2002; 8:13 AM)

Long-Distance Carriers To Recoup Cost Of Internet Relay (Newsbytes, April 18, 2002; 4:05 PM)

MCI Intros Flat-Rate Local-Long Distance Pkg. (Newsbytes, April 15, 2002; 2:15 PM)

Sprint Protests $450 Million DREN Networking Contract (Washington Technology, April 12, 2002; 5:30 PM)

SEC Steps Up Probe Of Qwest Finances: Phone Firm's Accounting Is Suspect (Post, April 5, 2002)

WorldCom Cuts 3,700 Jobs in Key Business: Firm Cites Slowdown Of Revenue Growth (Post, April 4, 2002)

© 2002-2005 The Washington Post Company

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