Beautifully engraved stock certificate from the
WorldCom, Inc. - MCI Group. This historic document was printed by the
Security-Columbian U.S. Banknote Company and has an ornate border with a
vignette of the company name. The stock has the printed signatures of the
company's president, Bernard J. Ebbers, and secretary, Scott D. Sullilvan.
The certificate was issued to Scripophily.com prior to the company filing
for bankruptcy and getting delisted.
July 21, 2002 - WorldCom, Inc. filed for Chapter 11 bankruptcy protection
according to the company's chief executive John Sidgmore. The bankruptcy is
the latest in a spectacular series of corporate collapses. The filing took
place in U.S. Bankruptcy Court in Manhattan and it ensures that the company
receives about $2 billion in financing while it reorganizes.
"Can we talk?".......WorldCom admitted June 25 that it had falsely booked
$3.85 billion in expenses to make it appear more profitable. The same day,
the company fired chief financial officer Scott Sullivan who was later
accused by company auditor Arthur Anderson of withholding crucial
information about WorldCom's bookkeeping.
WorldCom announced layoffs of 17,000 workers, or 20 percent of its global
work force. The bankruptcy is twice as large as Enron's record-setting
filing in December 2001. WorldCom reported more than $100 billion in assets
at the end of March, but is burdened by $30 billion in debt.
"Can we talk?".........Even before the hidden expenses were exposed,
WorldCom was struggling. Its stock traded as high as $64.50 in mid-1999, but
shares have since dropped to 36 cents and even less. Shares of WorldCom and
other telecommunications companies had slid ever since as the dot-com bubble
burst and other market forces caused an industry-wide implosion.
WorldCom's MCI Group is traded as a tracking stock. The MCI Group includes
WorldCom's consumer and small business services including the long distance
services. Inquiries into the company's accounting practices in 2002 led to
the resignation of WorldCom's CEO and CFO and the filing of fraud charges by
the SEC. The company plans to eliminate the tracking stock structure in July
"Can we talk?".......WorldCom currently employees more than 60,000 people in
65 countires, and serves over 20 million residential and business customers.
It also operates the world's largest internet network.
"Our total focus will be to take this company forward in the best way
possible and with the highest ethics so that WorldCom can continue to be an
important part of our economy. To that we are totally committed," said
This historic certificate is framed, as illustrated, in a contemporary,
black frame with red and black matting. The decorative wood frame is 1" wide
with an overall size of 12 3/4" x 15 3/4". Archival mounting, acid free
backing, and clear glass are used in preparing the framed certificate.
The total price of $139.95 includes the WorldCom, Inc. certificate, frame, labor and heavy duty packaging and USPS priority insured mailing in the continental
United States. Mailing to Alaska, Hawaii, and international destinations are
available at actual cost.
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All Old Stock and Bond
Certificates are actual authentic certificates and are sold only as collectibles.
We do not sell reproductions and offer a lifetime guarantee to the
authenticity of everything we sell.