Abstract:
Global Crossings Business Deal is one of the most talked about topics in the business domain. The very same year, when the deals were made, the company filed for bankruptcy. This article would give an idea about the deal and its consequences.
Global Crossings Business Deals - Overview
Global Crossings Business Deals during the start of the new millenium raised eyebrows of many business analysts. According to the financial as well as business analysts, this deal could have been a far better one if it was done with other internet companies present in the market.
Global Crossings Business Deals - Specification
First Deal between Global Crossing and Withit.com
According to this deal the online broadcasting services of Withit.com would be sold to Global Crossing
Second Deal between Global Crossing and Withit.com
The second deal was struck between the two companies during the month of November, 2001. According to this, Wither.com was hired by Global Crossing for consulting purpose on the viability issue of a particular stock trading system known as "IPC Trading Systems".
Global Crossings Business Deals - Some Glitches
During the first quarter of 2000, Global Crossing started to face financial problems and consequently its stock prices stumbled to a mere twenty five US dollars. The main reason behind such a dramatic fall is attributed to the Global Crossings Business Deals mentioned above.
Another Global Crossings Business Deals that is under scanner is the decision of swaping rights of network access with other interent company like Withit.com. According to sceptics, this business deal was done in order to hide the real financial picture of the company from its investors.
Conclusion
Global Crossings Business Deals, made during 2001, came up under review when the company filed for bankruptsy in the same year. Another company that came under the scanner was the company of Mr. Perron's son called Withit.com which had business deals with Global crossings.