Blogs: M&M’s --- Part I - This stands for Marketing and Money
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Adam Eisner, theWHIR.com
March 22, 2002 -- (WEB HOST INDUSTRY REVIEW) -- Executives from some of the world's largest communications providers defended their accounting practices yesterday before the U.S. House Financial Services subcommittee on investigations and oversight, which is investigating the bankruptcy of Global Crossing.
Representatives from Cable & Wireless, WorldCom and Qwest Communications all defended the practice of swapping network capacity as both lawful and helpful to the services provided by each company. Each firm either dealt with Global Crossing or its Asia Global Crossing subsidiary, USA Today reported. Global Crossing filed for Chapter 11 protection early this year, marking the telecom industry's biggest bankruptcy filing ever.
Under swapping agreements, telecoms would exchange network capacity and account the sale as revenue and the purchase as a capital expense.
"These transactions were entirely lawful, were reported in a manner in accordance with applicable accounting principles and were fully disclosed," Global Crossing Chief Executive John Legere and Chief Financial Officer Dan Cohrs told the subcommittee, according to Reuters.
Investigators, however, lashed out at the companies, Reuters said. "From where I sit, the whole thing you're talking about is nothing more than a much larger and more fancy Ponzi scheme,'' said Rep. Michael E. Capuano, a Massachusetts Democrat. "You bought something you didn't need with money you didn't have and sold it to someone who didn't need it."
The Securities and Exchange Commission is currently investigating the accounting practices of Global Crossing, and has requested additional information from Qwest and WorldCom regarding the matter. The Federal Bureau of Investigation is also looking in to the accounting practices of the telecom industry.
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Read Back Issues of WHIR Magazine
October 2009 - Web Hosting's All Star Team
This has been, for us, one of the most interesting, exciting and challenging build-ups to an issue of the magazine yet, Web Hosting's All Star Team. The balloting process was our first experiment with a kind of user participation we're planning to do a lot more with in the months to come. We had thousands of ballots submitted, with hundreds of write-in suggestions and a demonstration of user engagement that has us feeling super positive about the project.
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July 2009 - What am I Worth?
One of the interesting luxuries of working on a project like the printed WHIR magazine is that it allows us to play with things like our point of view from one issue to the next. In recent months we've been giving added attention to the kind of practical and applicable advice aimed at smaller hosts and resellers. This issue carries on with that point of view, asking, in our cover story, "what am I worth?" It's a complicated question without a clear-cut answer.
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May 2009 - The Blueprint for a Small Web Host
I was a little surprised by how difficult it became to see this idea through. We set out to assemble a blueprint for a small hosting business, but butted up pretty quickly against the general impossibility of covering all the territory that was out there to be covered. The basic constraints of a printed magazine, and the less-than-infinite amount of time we had available forced us to face the fact that we could never produce an exhaustive guide to starting a hosting company.
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