The Great Telecoms Swindle: How the Collapse of Worldcom Finally Exposed the Technology Myth

ISBN-13: 9781841124674 / Angielski / Miękka / 2003 / 208 str.

Keith Brody; Sancha Dunstan;Brody

Opis

With the demise of WorldCom amidst a flurry of accounting scandals dominating the front pages, and following hotly in the footsteps of the equally spectacular downfall of other telecoms giants including Global Crossing and Lucent Technologies in recent months, The Great Telecoms Swindle investigates the reasons behind a roller coaster ride that is set to continue for some time yet. Vivendi, France Telecom, Vodaphone and numerous other corporate behemoths all face testing and possibly life-threatening times that will demand radical solutions in the coming months.

The telecoms story is set to run and run and investors are set to continue to feel the heat. For a market that, as little as eighteen months ago amounted to a license to print money, the question 'what went wrong?' must urgently be asked. How could companies like Cisco Systems go from being paragons of virtue in the new corporate age to near pariahs embroiled in a welter of financial difficulties in such a short space of time? Is 'next generation telecoms' nothing more than a myth, a triumph of hype over reality? Tracking the rise and fall of the telecoms market from deregulation in the eighties through the advent of the mobile world, and on to broadband, 3G, and the mobile Internet the authors uncover what fuelled the boom, where the mistakes were made (by industry players and investors alike), and what if anything the future holds.

Taking the lid off the headlines, The Great Telecoms Swindle reveals and examines the real problems in the telecoms market today, and exposes an industry that is entirely unsure of its own future value proposition.

Recenzje

" it is a great read " (Irish Independent, 13 March 2003)

" there is an important point to be made " (Financial Director, 1 April 2003)

" A highly readable summary of the global boom, why it happened and the way in which it unfolded Well worth a read " (Global Turnaround, April 2003)

" A good bit of catch up reading whom the peace of change has been to much " (Teleworker, June 2003)

Spis treści

Preface

Introduction.

1. A swindle exposed.

2.  Into the breach.

Case study: NTL.

3. The floodgates open.

Case Study: Lucent Technologies..

4. Hard cell

Case Study: WorldCom.

5. A license to thrill.

Case Study: Marconi.

6.  The state we′re in.

7.  The perfect storm.

Case study: Global Crossing.

8.  The Great Telecoms Swindle.

Postscript.

Index.

O autorze

Keith Brody is a director of Dunstan Brody. Formerly managing editor of FT Telecoms and editor of Telecoms World and Billing International magazines, he has also worked as a senior consultant for Ovum, where he authored the report Billing for Next Generation Networks. Keith has written for a variety of leading telecoms publications, and is a regular speaker at industry conferences.

Sancha Dunstan is also a director of Dunstan Brody Ltd. She has edited Customer Care and Billing, Broadband Network News, and has written a number of reports and worked in consultancy for Broadband Network Information Services.

Blurb

"Anyone who tries to point a finger at a single group is not being fair." Jack Grubman, Salomon Brother analyst in testimony to a US Congressional committee investigating the fall of WorldCom

"Bernie Ebbers didn′t know anything about Scott Sullivan′s decision to reallocate expenses on WorldCom′s balance sheets." Reid Weingarten, attorney for Mr. Ebbers, at the same hearings

"Ever get the feeling you′ve been cheated?" John Lydon, San Franciso, 1978

"The headlines that you expect to find in the business section are suddenly front–page news in national papers, at times on an almost daily basis. The WorldCom scandal, in the wake of the Enron crisis, has seen western political leaders including both Blair and Bush elevate matters related to the market′s crash into issues of national priority. Suddenly, the collapse of the telecoms sector is on everyone′s lips.

But unlike many business scandals, The Great Telecoms Swindle almost certainly affects you. Millions have investments in the telecoms market (in the form of pensions, funds, equities, bonds, or otherwise), whilst almost all of us (millions more) carry a mobile phone in our pockets. The link between our relationsh ip with our phone companies and what′s happened in the hallways of corporate power is a direct one. We are part of a vicious circle in which we as consumers have funded promises of an enhanced future that the industry has failed to deliver, and which as a result has brought the market to its knees. Are we to some extent paying for our own greed?" – Keith Brody