MCI Plan Approved, Bankruptcy A Thing Of The Past
from the welcome-to-your-new-world dept
Well, that wasn’t so bad, was it? Con millions out of investors, go through a ton of lawsuits and investigations. Get new management and a board of directors, give your creditors one-third of what they’re owed and pop on out of bankruptcy a “new” company (with a “new” name) and all’s good again. That’s right. MCI has had their restructuring plans approved and they’re getting ready to put that nasty bankruptcy thing behind them. The question, though, is how long the reputation will linger and whether or not the months of restructuring has left them without a coherent strategy. There have been a lot of changes in the telecom world lately, and more are coming quickly. If they’ve been focused on cleaning up their internal situation, they may miss out on quite a bit going forward.