Former WorldCom CEO Ebbers sentenced to 25 years

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Former WorldCom CEO Ebbers sentenced to 25 years

Wednesday, July 13, 2005

Bernard Ebbers, founder and former CEO of telecommunications giant WorldCom, now MCI, was sentenced to 25 years in prison for his role in the corporate accounting fraud totaling US$11 billion. The once-powerful company plunged into bankruptcy in July 2002.

The sentence was handed down by Manhattan federal court Judge Barbara S. Jones. Mr. Ebbers, who is 63, asked for a lenient sentence due to his failing health and a heart condition, and because of his philanthropy.

Prosecutors pushed for a life sentence, and said the sentencing “should prove to be a deterrent” to corporate wrongdoing. “The enormity of the crimes that Ebbers committed cannot be overstated: the fraud at WorldCom was the largest securities fraud in history,” prosecutors wrote in papers filed last month.

Jones rejected defense lawyers’ contentions that the government overstated the losses, and that Ebbers was not a mastermind of the wrongdoing. Jones believed Ebbers deserved a harsh sentence, and said “Mr. Ebbers was the instigator of the fraud.”.

Ebbers appeared to be tense when arriving at the court and even shoved a photographer out of his way. After the sentence was given, Ebbers was seen weeping. His first day of prison will be October 12.

In March, Ebbers was found guilty of fraud, conspiracy, and seven counts of filing false documents with regulators.

WorldCom emerged from bankruptcy last year under the name MCI, which was one of the many companies WorldCom had acquired. In May, Verizon agreed to acquire the company.

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Little Caesars Pizza to open eight stores in Ireland

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Little Caesars Pizza to open eight stores in Ireland

Monday, August 29, 2005

US pizza chain giant Little Caesars is to open eight stores in Ireland and has plans to increase that to 45 over the next few years. The company has signed a ten year deal with Doughmaster to support Little Caesars franchisees in Ireland.

Dublin based Doughmaster will open the first eight stores and operate them as its own over the next 18 months. Afterwards it will pursue franchisees.

Little Caesars was founded in Michigan in 1959. The firm has franchised over 3,000 restaurants in the USA and has revenues of over $1bn.

Little Caesars adds to a highly expansive Irish pizza market – existing players include Apache, Domino’s, Godfathers, Fourstarpizza and Pizza Hut. The four largest operators (those mentioned excluding Pizza Hut) now have over 90 outlets in Ireland in total. Apache remains the largest company in store count with 29 outlets.

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Global markets surge in value

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Global markets surge in value

Monday, October 13, 2008

Markets worldwide have surged in value following efforts by governments to ease the effect of the ongoing financial crisis, which has recently caused a massive decline in the value of stock markets.

On Sunday, the fifteen countries from the Eurogroup – that is, those countries which use the euro as official currency – had agreed on a joint plan to face the crisis, which would consist in supporting financial institutions and by guaranteeing interbank loans.

The Eurogroup meeting was the last of many which took place during the weekend. The G7 nations had met in Washington at the same time that the International Monetary Fund and the World Bank held their Autumn meetings.

The Dow Jones Industrial Average index is one of the indexes that have done particularly well today, and it closed up 11.08%, well over 9,000 points. General Motors was the best performer in this index, with its value rising by 31.49%. The Nasdaq rose by 11.81%.

The FTSE 100 has today gone up in value by 8,26%, to take the index back over the four thousand mark. TUI Travel was the best performing company in this index. It went up by 41.25 points (21.48%), to take it to a new share price of 233.25. Some shares in the FTSE, however, have continued to fall dramatically. HBOS today dropped in value by 31.48%.

The Brazilian Bovespa index today went up by 14,66%, while the Hang Seng and Singapore Straits Times went up by 10.24% and 6.57% respectively.

Stocks exchanges in Tokyo, Buenos Aires and Toronto were closed due to national holidays.

22:00, Monday, October 13, 2008 (UTC)
  • DJIA
  • 9.387,61 936,42 11,08%
  • Nasdaq
  • 1.844,25 194,74 11.81%
  • S&P 500
  • 228,14 23,30 11,37%
  • S&P TSX
  • 9.065,16 0,00 0.00%
  • IPC
  • 22.095,90 2.190,62 11,01%
  • Merval
  • 1.215,990 0.00 0,00%
  • Bovespa
  • 40.829,13 5,219.63 14,66%
  • FTSE 100
  • 4.256,90 324,84 8,26%
  • DAX
  • 5.062,45 518,14 11,40%
  • CAC 40
  • 3.531,50 355,01 11,18%
  • SMI
  • 5.956,32 609,10 11,39%
  • AEX
  • 285,27 27,22 10,55%
  • BEL20
  • 2.324,80 201,36 9,48%
  • MIBTel
  • 17.125,00 1.687,00 10,93%
  • IBEX 35
  • 9.955,70 958,00 10,65%
  • All Ordinaries
  • 4.141,90 202,40 5,14%
  • Nikkei
  • 8.276,43 0,00 0,00%
  • Hang Seng
  • 16.312,20 1.515,29 10,24%
  • SSE Composite
  • 2.073,57 73,00 3,65%

    Posted: May 26th, 2019 by

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    Kasturi Eon Homes: The Comfort &Amp; Luxury Apartments

    Kasturi Eon Homes: The Comfort & Luxury Apartments

    by

    proptiger1

    Kasturi Eon Homes is a upscale residential project by the Kasturi Builders. Kasturi has been a name for innovation and creation. Kasturi Eon Homes is located in Hinjewadi Phase 3, next to Tech Mahindra, Pune. Hinjewadi is a premium location as it has Tech Parks. Hinjewadi is better known as the IT HUB. Hinjewadi has major presence of IT companies and it is known for its Corporate Culture. We can see IT companies like Wipro, KPIT, Infosys, Indian Institute of Information Technology, Symbiosis IT Campus and many more. There are about 70000 people employed in the IT field in Hinjewadi Pune. Microsoft also is planning to set up its plant here in Hinjewadi. Hinjewadi road directly inter-crosses the Mumbai-Pune bypass road which makes it easy to reach Mumbai from here.

    Pune is the main city after Mumbai in Maharashtra. It is considered as the Cultural Capital of Maharashtra. Pune real estate has started showing the signs of stability, when it comes to demand and supply of the properties in the city. Today various real estate developers are taking keen interest in the city, thereby generating an up thrust in the Pune properties and obtaining applaud at the same time, gaining huge capital gain for every residential property. The properties in Pune are witnessing a boom that has started in the second half of the 90s. Today, Pune is one of the esteemed cities to live and to grow.

    YouTube Preview Image

    Kasturi Eon Homes

    has 12 buildings spread over an approx area of 25 acres. There will be 2BHK and 3BHK luxury and comfort series of apartments in the Kasturi Eon Homes. Traffic Free central Landscaping, High Speed Lifts in each building, Ample natural light and ventilation, Air Conditioned bedrooms, Furnished kitchen including trolley cabinets, chimney and water purifier, Designer bathrooms with upscale fittings and 100% Power backup and other global facilities give your life an easy way to live at Kasturi Eon Homes. The area of the apartments ranges between 1185 sq.ft to 1415 sq.ft. and the price for the apartments is Rs.46.22 Lacs onwards.

    Kasturi is a synonym for Passion of Quality and Quest for Perfection. Quality projects and a dynamic work culture help us attract and retain some of the best professionals in the industry. Kasturi is builder with a difference. As a quality brand, they try to achieve excellence in all their endeavors, their thirst for knowledge and newer methodologies help expand our horizons, they contribute in improving the quality of life in our society.

    If you are interested in buying a residential apartment in

    Kasturi Eon Homes

    , Hinjewadi, kindly contact us.

    Article Source:

    ArticleRich.com

    Posted: May 26th, 2019 by

    No Comments | Filed under Constructions And Maintenance

    Yahoo triples its quarterly profit on strong advertising revenue

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    Yahoo triples its quarterly profit on strong advertising revenue

    Wednesday, January 19, 2005

    Yahoo!, the world’s favorite Internet destination, reported $373 million in net income for the three month period ended December 31. Revenues were $1,078 million for the fourth quarter of 2004, a 62 percent increase compared to $664 million for the same period of 2003. “We are attracting more and more users to Yahoo!’s network of services and driving their usage deeper with more relevant products and services. This deeper usage is the real magic behind the surpassing of our financial objectives,” explained Susan Decker, the company’s chief financial officer.

    • Revenues excluding traffic acquisition costs (“TAC”) were $785 million for the fourth quarter of 2004, a 54 percent increase compared to $511 million for the same period of 2003
    • Gross profit for the fourth quarter of 2004 was $691 million, a 56 percent increase compared to $443 million for the same period of 2003
    • Operating income for the fourth quarter of 2004 was $235 million, a 149 percent increase compared to $94 million for the same period of 2003
    • Operating income before depreciation and amortization for the fourth quarter of 2004 was $327 million, an 84 percent increase compared to $178 million for the same period of]] 2003

    Posted: May 24th, 2019 by

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    Category:Mining

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    Category:Mining

    This is the category for mining.

    Refresh this list to see the latest articles.

    • 3 June 2016: Glencore announces Tahmoor mine in New South Wales to close
    • 28 May 2014: Second sinkhole appears in Australian city this week
    • 12 February 2014: Jade Rabbit lunar rover declared lost
    • 25 April 2012: Disposal of fracking wastewater poses potential environmental problems
    • 13 April 2012: Nine Peruvians rescued from collapsed mine
    • 15 June 2011: Court rules Massey can appeal US restrictions in mine disaster investigation
    • 25 November 2010: 29 presumed dead after second explosion at New Zealand mine
    • 9 November 2010: Two killed in new Copiapó, Chile mining accident
    • 16 October 2010: 20 dead, seventeen trapped after Chinese coal mine explosion
    • 15 October 2010: Four miners trapped in Ecuador mine
    ?Category:Mining

    From Wikinews, the free news source you can write.


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    Pages in category “Mining”

    Posted: May 24th, 2019 by

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    Afghan president Hamid Karzai opens new terminal at Kabul International Airport

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    Afghan president Hamid Karzai opens new terminal at Kabul International Airport

    Friday, November 7, 2008

    Hamid Karzai, president of Afghanistan, has opened a new terminal at Kabul International Airport. The US$35m (£22m) two-story structure was gifted by Japan as the old terminal building had become badly damaged by decades of war.

    Speaking at the event, attended by 150 Afghan and Japanese officials, Karzai expressed his gratitude for the building, saying “Afghanistan could not have made this terminal on its own for many years or without lots of effort.” The new terminal is built next to the original sixties building, which had been considered luxurious when new but has fallen into decline, especially after the 1979 Soviet invasion and the civil war which followed.

    Increasing numbers of military aircraft joined the commercial passenger planes, making Kabul International a frequent target of rocket attacks. It was in a poor state of repair, as well as outdated and in need of expansion, by the time the Taliban were ousted from Afghanistan.

    Karzai implored his people to take proper care of the new terminal, which Afghan officials described as a step along the route to reconstruction after the Taliban were deposed.

    “I hope, now this facility has been handed over to us, that our sisters and brothers, those in charge of the airport, the passengers passing through, the state officials and MPs using it, will look after it and they should not allow, God forbid, that we come here after a year and find its windows, doors and tiles broken,” he said.

    The building will enter service next week, in time to carry passengers to Saudi Arabia for the annual pilgrimage of the Hajj. It has a capacity of one million passengers every year, and will service both domestic and international routes.

    Posted: May 23rd, 2019 by

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    What Is A Prepaid Credit Card}

    What is a prepaid credit card

    by

    Steve Evans

    You probably see them all the time at gas stations or advertised as a solution for people with bad credit. Prepaid credit cards act just like a regular credit card, except unlike a normal credit card there is no line of credit behind the plastic.

    They are also known as Pay as you go cards. With a prepaid credit card you have a fixed amount of money you can use. Since there is no line of credit, you dont have to worry about paying back any debt.

    Credit cards are practically a necessity of life these days. When was the last time that you wrote a check. Id wager that most of us just write one or two checks a year these days and the rest is done by card. Its almost impossible to rent a car, reserve a hotel room, or make a large purchase without a credit card. Many businesses now require customers to have a credit card on file even if paying with cash or check. What can you do if you have bad credit or no credit?

    YouTube Preview Image

    As we said earlier prepaid credit cards are also known as pay as you go cards. They work in a similar way to traditional credit cards. The difference is that prepaid credit cards dont involve borrowing money from the issuer. You preload the card with money and then use it wherever Visa or Mastercard are accepted. Late fees and interest charges are not applicable. Simply refill the card when the balance is low or depleted.

    A prepaid card is much like the gift cards available from most high street chains in the UK, however, prepaid cards have a much wider acceptance, and can be used internationally. They are the same as credit cards, but without the credit. The majority of UK prepaid card providers offer cards embossed with your own name, and some are even CHIP & PIN cards.

    A prepaid card is not a credit facility, so you do not need to pass a credit check. Even if you have bad credit or CCJs you are guaranteed to be approved for a prepaid card. However, you are still required to provide details verifying your identity and address (for example a passport, driving licence or national identity card plus a utility bill or an official letter with your permanent or temporary address). Some of the prepaid card issuers will even verify your details online, and give you an instant approval. By the way this is correctly called an electronic identity check, not a credit check!

    A prepaid credit card such as a Visa or prepaid Master card can be used like any other credit card to make purchases. With a prepaid card, however, you load funds onto your card and use that money to make purchases and get cash — you are not borrowing money from a bank or other financial institution. The prepaid credit cards look, feel and work like a credit card but are pre-funded “stored-value” cards. This allows you to set spending limits for you or your kids.

    So there you have your answer. It is a pre-paid, reloadable card can be used anywhere Visa or MasterCard is accepted — at stores, gas stations, restaurants, theaters, in the mall and online. Making a hotel and rental car reservation is a snap. You can also access cash at ATM’s. The card is great for everyday purchases, special occasions, and emergency backup.

    Go to “

    first prepaid credit

    ” for a great deal more information at the Prepaid Credit Cards Blog.

    Article Source:

    What is a prepaid credit card}

    Posted: May 23rd, 2019 by

    No Comments | Filed under Boutique Hotels

    Saudi Arabia blocks access to Blogger, Flickr, LiveJournal

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    Saudi Arabia blocks access to Blogger, Flickr, LiveJournal

    Monday, October 10, 2005

    The government of Saudi Arabia blocked access to Google‘s Web blogging service Blogger, Yahoo!‘s photo sharing website Flickr, and the diary service LiveJournal as well as some other websites through their nationally run Internet Services Unit (ISU) last Tuesday. As a result, English-speaking Saudis were prevented from publishing blogs, reading journals, or viewing pictures on Flickr.

    The Saudi Arabian government uses a filtering service provided by the United States-owned company Secure Computing. Similar blocking services have been implemented in other countries, such as The People’s Republic of China.

    In the past, the ISU had, on and off, blocked access to BlogSpot.com’s free hosting service. However, according to activist organization Reporters Without Borders, “blog services [applications] had not until now been affected by the ISU’s filters. The complete blocking of blogger.com, which is one of the biggest blog tools on the market, is extremely worrying. Only China had so far used such an extreme measure to censor the Internet.”

    On Thursday, access to Blogger.com was restored, but Flickr and LiveJournal remained inaccessible. The ISU did not release any public statement about the blocking or restoration of service to any specific website.

    Posted: May 23rd, 2019 by

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    News briefs:January 04, 2008

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    News briefs:January 04, 2008

    Contents

    • 1 Wikinews News Brief January 04, 2008 23:35 UTC
      • 1.1 Introduction
      • 1.2 Israeli troops kill 9 in Gaza
      • 1.3 Georgian President faces election challenge
      • 1.4 US unemployment hits two-year high
      • 1.5 Israel plans crackdown on West Bank settlement outposts
      • 1.6 Transaven Airlines plane carrying 14 people crashes off Venezuelan coast
      • 1.7 Sportswriter Milt Dunnell dies at 102
      • 1.8 2007 was particularly good year for aviation safety
      • 1.9 U.S. Senator Dodd bows out of presidential race
      • 1.10 Intel ends partnership with One Laptop Per Child program
      • 1.11 British Investigators arrive in Pakistan to join Bhutto investigation
      • 1.12 Disgorge bassist Ben Marlin dies from cancer
      • 1.13 Egypt lets 2000 pilgrims through Rafah
      • 1.14 Launch of Space Shuttle Atlantis once again delayed
      • 1.15 Study suggests hospitals are not the best place for cardiac arrest treatment
      • 1.16 US dollar no longer accepted at Taj Mahal and other Indian historical sites
      • 1.17 Footer

    [edit]

    Posted: May 23rd, 2019 by

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