WCOM bankruptcy provision reversed by EDS,
Some of this is a repeat because of EDS' quarter filing 2/6/03.
The latest EDS quarter includes a $42 million, or 6 cents
per share, reversal of previously recorded provisions
related to EDS' network services agreement with WorldCom
and pre-petition receivables, which are no longer required
based on the recent settlement approved by the bankruptcy court.
story.news.yahoo.com
The settlement agreement, proposed earlier in Dec., calls for EDS to
pay WorldCom $187 million in cash within the coming year,
with the bulk of the payments due within the next four months.
EDS, the world's No. 2 computer services provider and second
only to IBM, also agreed to drop several allegations against WorldCom.
news.corporate.findlaw.com
On the government front, WorldCom provides much of the
Internet backbone, through its UUNet subsidiary, at the
heart of the $6.9 billion Navy Marine Corps Intranet
project being carried out by EDS.
biz.yahoo.com
WorldCom Inc. has won three government contracts since November,
a sign that the telecommunications company is convincing government
agencies that its massive bankruptcy has not hindered its ability to
provide large-scale services.
WorldCom has been one of the largest federal contractors - its federal
contracts brought in $1.7 billion - 8 percent of its revenue last year.
hostchart.com
They are now resolving those Wcom financial
claims on their own quarterly statements.
As exaggerated as they might have been.
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This info is subject to human error and misinterpretation.
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