Abbott, Ray
accounting practices
fraud deterrence
of Global Crossing
of IDB WorldCom
of Qwest
Sarbanes-Oxley reforms
stock option expensing and
of WorldCom
Accumulate rating
as CSFB Buy equivalent
Ackerman, Duane
Adelphia
Advanced Telecommunications Corporation
advertising firms
AirTouch
Akamai Technologies
ALC
All-American Research Team
Allen, Bob
Allen, Herb
Alliance Capital Management
Allison, Herb
Amazon.com
American Century
America Online. See AOL
Ameritech
SBC merger deal
analysts
accounting fraud and
BlackBerry’s advantages for
bubble-burst effects on
celebrity of
commission payments to
diminished reputations of
analysts (cont.)
earnings of
evolving role of
Fair Disclosure rule and
Grubman model of
highest-paid
incentivized bonuses and
inherent conflicts faced by
inside information and
intimidation of
investigations of
investment bank interaction with
investment bank severance from
IPO boom and
as keys to massive deals
new NASD standards for
perks of
pliability of
pressures on
reform proposals for
restricted periods and
role of
ruined reputations of
social contacts and
See also I.I. rankings; research reports
Anchor Bar (Buffalo)
Andersen. See Arthur Andersen
Andreessen, Mark
Animal Farm (Orwell)
Annunziata, Bob
Anschutz, Phil
Nacchio’s dismissal by
stock sales of
Anschutz Corporation
antitrust
telecom mergers and
AOL
AOL–Time Warner merger
arbitrageurs (arbs)
arb spread
Armour, Tim
Armstrong, C. Michael (Mike)
AT&T action plan of
AT&T restructuring and
AT&T tracker and
background/personality of
Comcast bid and
current situation of
Global Telecom CEO Conference and
Arthur Andersen
Asian telecom privatization
AT&T
antitrust breakup of
Baby Bells as threat to
cellular coverage and
Comcast bid and
financial problems of
Grubman’s downgrade of
Grubman’s upgrade of
Grubman–Weill relationship and
leadership change at
local startups and
price wars and
Reingold’s downgrade of
Reingold’s upgrade of
restructuring of
SBC purchase of
tracking stock and
AT&T Broadband
AT&T Labs
At&T Long Distance
AT&T Wireless
IPO underwriters
Avoid rating
Baby Bells
cellular coverage and
competition and
Grubman’s view of
local startups and
as long distance service
mergers and
Reingold’s view of
strengthened position of
See also specific companies
Baker, Richard
bandwidth
banking. See investment banks
Bank of America
Bank of New York
bankruptcy filings
Worldcom’s as largest
Barron’s
Bartiromo, Maria
Barton, Neil
Bath, Blake
BCN Telecom
Bear Stearns
beauty contests
Beckwith, Aaron
Belladonna, Julia
Bell Atlantic
AirTouch bid
GTE merger
NYNEX merger
BellSouth
Berkery, Rosemary
Bingham, Blair
BlackBerry
Blodget, Henry
Blood on the Street (Gasparino)
Blumenstein, Rebecca
boards of directors
interlocking
WorldCom lawsuit settlements
Boatman’s Bancshares Inc.
Boesky, Ivan
Bonfield, Sir Peter
Boo.com
Bowman, Matt
Brace, Robert
Brazil
British Telecom
MCI bid by
broadband
brokerage firms
Bronfman, Edgar, Jr.
Bruneau, Mark
BT. See British Telecom
Buffalo wings
bull market (1990s)
analysts’ pressures and
analysts’ visibility and
crash of
heights of
Internet stock and
IPO boom and
telecom stock and
Bush, George H. W.
Business Week
Buy rating
analyst offering of
buy-side analysts
Global Telecom CEO Conferences and
Grubman’s tactics and
I.I. rankings by
inside information and
proprietary calls and
quarterly earnings and
Cable & Wireless
cable television
Calpoint
Cannada, Charles
Capital Group
capitalism
Capital Research
Carter, Les
Carter Stone
Case, Steve
Casey, Tom
Cauley, Leslie
cell phones free long distance service
popularity of
cellular companies
AT&T and
Baby Bells and
new technology and
Centel
CEOs analyst’s relations with
excessive compensation of
investigations of
reform proposals for
stock sales by
telecom
See also specific companies and personal names
Chambers, John
Chartered Financial Analyst
Cheramy, Ed
Chile
Chinese Wall
Cisco Systems
Citigroup
AT&T and
See also Salomon Smith Barney; Weill, Sanford I.
Clark, Mayree
class-action suits
Clayton, Joe
Clinton, Bill
CNBC
founding of
Grubman stakeout by
individual investors and
Cohen, Ido
Cohen, Sandy
Cohrs, Dan
Comcast
Comfort, Stephanie
Committee to Encourage Corporate Philanthropy
compliance review
computers. See also Internet
confidential information. See inside information
conflicts of interest
analysts and
government investigations of
No-Action Letter and
public disclosure of
reform proposals
Congress
Qwest and Global Crossing hearings
WorldCom hearings
Connick, Harry, Jr.
Conway, William, Jr. (Bill)
Coopers & Lybrand
Corzine, Jon
Costa, Michael
Covad
Credit Suisse First Boston
analyst downgrade policy of
analyst investigations at
analyst reforms at
AT&T restructuring and
AT&T wireless IPO and
downgrading rule at
fine paid by
global telecom strategist at
institutional clients of
investigation settlement of
as investigation target
IPO fees of
IPO share spinning and
Mack as CEO of
offices of
Qwest and
Reingold at
Reingold’s early retirement from
Reingold’s successor at
Reingold’s team at
revival of
stock rating system of
telecom conference
top executives of
See also Quattrone, Frank
Credit Suisse Group
cross-entry
Crowe, Jim
appearance/personality of
current situation of
as Internet advocate
Cruz, Ernesto
CSFB. See Credit Suisse First Boston
Curley, Jack
Cushman, Jay
Cutler, Carol
Dale, Peter
data transmission
Davis, Tom
Davis, Polk & Wardwell
day traders
Dean Witter
Deloitte & Touche
Denver Post
Deutsche Bank
Deutsche Telekom
Dick, Melvin
Digital Island
Dingell, John
DirecTV
Donaldson, Lufkin & Jenrette
dot.coms
crash of
Dougan, Brady
Dow Jones industrial average
Dow Jones News Service
Drexel Burnham Lambert
DSL lines
Earley, Kathleen
Ebbers, Bernie
acquisition strategy of
background of
congressional hearings and
debts of
Grubman’s closeness with
illegal IPO gains and
investors’ faith in
management style of
personal finances of
personal style of
resignation of
telecom conferences and
trial/prison sentence of
See also WorldCom
Ebbers, Kristie
Elstrom, Peter
Enron
Esrey, Bill
ethics policies
Europe
Morgan Stanley marketing trip to
telecom privatization in
Evans, Theodora
Faber, David
Fair Disclosure rule
FASB, See Financial Accounting Standards Board
FBI
Federal Communications Commission
telecom mergers and
Fein, David
fiber-optic cables
Global Crossing’s IRUs and
glut of
international
swaps and
Fidelity Investments
analyst contacts with
WorldCom and
Financial Accounting Standards Board
Financial Times
First Boston
First Call
5 rating
Flannery, Simon
Fletcher, Steve
Forbes
Forbes, Malcolm
Forstmann Little
Fortune
4 rating
France Telecom
Franklin Funds
fraud
profit repayments for
Qwest and
research and
WorldCom’s as largest corporate
“friends and family” list
Frontier
Global Crossing deal
Qwest bid for
Fuckedcompany.com
Garofalo, Stephen
Gasparino, Charles
Gates, Bill
Gelblum, Ehud
Gensler, Rob
Gent, Chris
Germany
Gilder, George
Global Center
Global Crossing
bandwidth and
bankruptcy filing of
CEO turnover at
congressional hearings and
failure prediction for
finances of
Frontier deal and
insider game and
investigations of
leases vs IRUs
new target price on
Reingold’s downgrading of
US West bid and
global research
global satellites
Global Telecom CEO Conference
CSFB
Merrill Lynch
Goldman Sachs
analysts at
AT&T wireless IPO and
banking revenues of
M&A ranking and
WorldCom downgrading by
golf
Gore, Al
Governali, Frank
Grasso, Dick
Greece
greed
Greenberg, Ed
current situation of
independence of
Reingold’s Merrill Lynch move and
Greenhill, Bob
Greenspan, Alan
Gross, Joel
Grubman, Jack
aggressiveness of
analyst approach of
AT&T and
AT&T vs. Baby Bells and
Baby Bell about-face of
background of
as best-known analyst
BT-MCI deal and
bullishness of
Carol Cutler e-mails to
censure/fines paid by
children’s preschool admittance deal and
class-action suits against
complaint to SEC against
congressional hearings and
current situation of
downfall of
favorite stocks of
Global Crossing leaks and
high pay of
I.I. ranking of
incriminating e-mails of
investigations of
LDDS and
Level 3 stock price and
local telecom startups and
media focus on
personal finances of
personality of
pre-merger upgrades by
Qwest and
Reingold’s rivalry with
research compliance review and
résumé embellishment by
rule-bending by
Salomon move and salary of
Salomon resignation of
severance package of
share spinning and
tactics of
Teleport–MFS comparison report and
WorldCom connection of
WorldCom downgrading by
GTE
Hammond, Darrell
Harvey, Cy
Hayter, Jim
hedge funds
Hevesi, Alan
Hindery, Leo
Hold rating
hostile takeovers
House of Representatives. See Congress
Huckman, Mike
Huffman, Jennifer
Hughes Electronics Corporation
Hundt, Reed
IBM Global Network
ICG
IDB Communications
IDB WorldCom
I.I. rankings
CSFB analysts and
declining importance of
Fidelity’s vote and
job mobility from
local startups and
origination of
Reingold and
voting process
indefeasible rights of use. See IRUs
individual investors
Grubman share-price hype and
Merrill Lynch and
quarterly earnings/stock price relationship and
research analyst opinions and
typical investment activities of
unfair playing field for
Indonesia
Indosat
information superhighway. See Internet
initial public offerings. See IPOs
inside information
analysts and
Chinese Wall and
definition of
IPO shares and
leaking of
M&As and
potential of
repayment of profits from
research reports and
selective disclosure of
as uneven playing field
See also over the wall insider trading
definition of
reform proposals for
Institute for Chartered Financial
Analysts
institutional investors
fair disclosure and
quarterly earnings and
retail brokers vs.
stock-pick rationales of
uneven playing field and
See also buy-side analysts
Institutional Investor. See I.I. rankings
Intermedia
Internet
advocates of
analysts’ coverage of
analysts’ ignorance of
antitrust and
as defining telecom
high-speed access to
new technology and
online day traders and
startups
Internet protocol. See IP
Internet service provider
intimidation
investment banks
Chinese Wall and
competition and
Crowe’s grading criteria for
earnings of
fines paid by
foreign telecom privatization and
inside information leaks and
investigations of
IPO fees for
IPO spinning and
bad year in 1990 of
M&A league tables and
merger fees and
as middlemen
NASD new standards for
reform proposals for
reforms of
See also analysts; research reports; specific firms
Investment Dealers’ Digest,
IP (Internet protocol)
IPOs
analyst’s commission and
analyst’s role in
boom in
inequality in information about
investigation of
restricted periods for
share allocation and
spinning and
IRUs
Israel
J&W Seligman
Jackson, Al
Jacobs, Howard
Jacobs, Jeff
Johnson, Abby
Johnson, Ned
Jones, Barbara
Jordan, Michael
JP Morgan
Justice Department, U.S.
See also antitrust
Kaplan, Gil
Kastan, Mark
BT-MCI deal and
measured research of
Merrill’s wooing of
Qwest valuation and
WorldCom and
Kenney, Jerry
Khosla, Vinod
Kidder Peabody
King, Tom
Klugman, Rick
Komansky, David
Kramer, Rob
Kulick, Megan
Landau, Peter
Landler, Mark
Latin American telecom privatization
Lavery, Jack
Lawrence, Chris
LDDS
See also WorldCom
Lee, Chuck
Lehman Brothers
Leibowitz, Denny
Level 3 Communications
Levitt, Arthur
Levkovich, Tobias
Lewis, Michael
Liar’s Poker (Lewis)
Lin Broadcasting
local phone companies
long distance services and
mergers and
solid examples of
See also Baby Bells; startup local carriers
London
Long Distance Discount Service.
See LDDS
long distance service
antitrust and
competition and
engineering and
fiber-optic network and
financial problems of
foreign privatization and
free wireless
international
Internet data traffic and
local companies and
new companies and
new technologies and
price wars and
share ratings and
small company resellers of
Telecom Act and
See also specific companies
Lucent
Lynch, Gerald E.
Lynch, Peter
M&A. See mergers and acquisitions
Mack, John
at CSFB
current situation of
Madison Avenue
Madrid
Maine, Doug
Mandl, Alex
Marotta, Connie
Maturo, Frank
Maughan, Deryck
Maybell, Mark
McCaw Cellular
McCourt, Dave
McElroy, Bill
McFadden, Chris
McGowan, Bill
MCI
BT bid for
downgrading of
expensing options by
local startups and
Qwest abortive bid for
Reingold’s move from
shares drop
WorldCom takeover of
MCI WorldCom Inc.
origins of
Verizon purchase of
See also WorldCom
McLeod, Clark
McLeodUSA Communications
McLucas, William
Meeker, Mary
Melnick, Andy
Weller hire proposal and
mergers and acquisitions
analyst reports and
antitrust and
arbitrageurs and
bidding war and
cellular companies and
Chinese Wall and
inside information and
league tables
long-distance resellers and
reform proposals for
reforms and
Telecom Act as impetus for
undervalued stocks and
See also specific companies
Merrill Lynch
analyst reforms of
analysts at
Blodget and
CEOs of
earnings/revenues of
fine paid by
foreign telecom privatizations and
IPOs and
Level 3 stock and
M&A deals and
Morgan Stanley contrasted with
Qwest valuation and
Reingold at
Reingold’s move from
research compliance review at
retail brokerage of
stock rating system of
telecom conference
telecom investment banking deals and
top research department of
Merrill Lynch, Pierce, Fenner & Smith
Metcalfe, Bob
Metromedia Fiber Network
Mexico
MFN. See Metromedia Fiber Network
MFS Investment Management
MFS Communications
WorldCom acquisition of
microwave technology
Middleton, Tom
Milken, Michael
Miller, Fred
Mips Computer Systems Inc.
Mississippi
Mohebbi, Afshin
Money magazine
monopolies
Morgan Stanley
analysts at
AT&T stock and
banking revenues of
Dean Witter merger with
European marketing by
foreign telecom privatization and
genteel reputation of
investment banking department of
large investor clients of
Qwest stock warning and
Reingold at
Reingold’s move from
Reingold’s recruitment by
Reingold’s re-recruitment by
research report procedure at
Silicon Valley group
stock rating system of
Morris, Robert
I.I. rating of
Motz, Cindy
Murray, Bob
Mutschler, Linda Runyon
mutual funds
as individual investor’s best bet
Nacchio, Joe
congressional hearing testimony of
current situation of
Nacchio, Joe (cont.) illegal IPO gains suit against
intimidation tactics of
merger bids and
personal finances of
personality of
Qwest’s dismissal of
SEC suit against
See also Qwest
NASD
new standards
NASDAQ
all-time high of
crash of
National Association of Securities Dealers. See NASD
Netscape
Neutral rating
Newbury, Bill
new-economy companies
analysts and
real assets vs.
New York Daily News
New York Stock Exchange
New York Times
M&A league tables
Nextel
92nd Street Y preschool
Citigroup donation to
No-Action Letter
suggested elimination of
Noski, Chuck
Notebaert, Dick
NYNEX
NYSE
O’Dell, Michael
offshore accounts
1 stock rating
O’Neal, Stanley
Oppenheimer & Co.
Orwell, George
Outperform. See Accumulate rating
over the Wall
analysts’ improper use of
Grubman’s use of
proposed ending of
Pacific Capital Group
Pacific Telesis (PacTel)
PaineWebber
Palo Alto Research Center
Pathnet
Peek, Jeff
pension funds
Perella, Joe
Peru
Peter Kiewit & Sons
Pets.com
pheasant hunting
philanthropy
Pincus, Mark
Portugal Telecom
price-to-earnings ratio
Prince, Charles (Chuck)
private-to-public discount (private market value)
privatization
proprietary calls
PT Indosat
Puck, Wolfgang
Purcell, Phil
Putnam
quarterly-earnings reports faking of at IDB
stock prices and
Quattrone, Frank
earnings of
federal investigation/indictment/conviction of
Grubman’s negative press and
influence of
IPO share spinning and
Reingold’s e-mail to
Quinton, Adam
Qwest Communications
background of
CEOs’ stock sales at
congressional hearings on
“culture of fear” at
current CEO of
Deutsche Telekom bid and
as disastrous stock pick
diversification of
employee savings losses at
finances of
Internet and
IPO and
MCI vs.
optimistic outlook of
Reingold’s downgrade of
SEC investigation/suit against
stock price underestimation and
US West merger with
valuation of
See also Nacchio, Joe
ratings categories
CSFB’s system
See also specific categories reciprocal purchase agreements.
See swaps
Reduce rating
Reed, John
Regulation FD. See Fair Disclosure rule regulatory rules
Baby Bells and
international phone service and
local phone service and
loopholes in
misplaced faith in
NASD new standards for
needed enforcement of
selective disclosure and
telecom deregulation and
See also antitrust; Federal
Communications Commission;
Securities and Exchange
Commission
Reif-Cohen, Jessica
Reingold, Jennifer
Reingold, Mark
Reingold, Muriel and Jack
Reingold, Paula Zimmer
Reno, Janet
research analysts. See analysts
research reports
analyst’s reputation from
benefits of positive
biased and misleading
compliance review of
factual summaries and
fraud and
“grandma” approach to
independence of
independent research firms and
insider information and
investigations of
investment banking fees and
mandated multiple independent
marketing of
pending merger deals and
“reasonable basis” for
Reingold’s first
retail brokers and
SEC restrictions on
stock movement from
“tone” and “notice” complaints about
resellers
restricted periods
retail brokers
analysts and
Rey, Francisco
risk arbitrage funds. See arbitrageurs road shows
Roberts, Bert
Rochester Telephone Company
Rohrbach, Clayton J., III
Rubin, Bob
Runyon, Linda
Ruvkun, Rick
S&P 500 Index
Salerno, Fred
Salomon Brothers
Salomon Smith Barney
actions against
compliance investigation and
Ebbers’s assets leveraging and
fine paid by
IPOs and
IPO share spinning and
Level 3 stock offering and
M&As and
rating system of
research compliance review and
Spitzer’s investigation of
telecom bubble burst and
telecom conference
See also Grubman, Jack
Sarbanes-Oxley Act
satellite TV
SBC Communications
See also Southwestern Bell
Schaeffer, Dave
Schaffer, Oren
Securities and Exchange Commission
banker-research conflicts and
fair disclosure rule
Grubman rule violations and
misplaced faith in
Qwest suit and
regulatory loopholes and
research report compliance rule
selective disclosure rule
Wall Street investigations and
See also No-Action Letter
Securities Data Corporation
Seidenberg, Ivan
selective disclosure
Sell rating
analyst’s lack of benefit from
analyst’s quotas and
sell-side analysts
September 11 attacks
short sellers
Sidgmore, John
Sihpol, Theodore C., III
Silicon Graphics
Silicon Valley
Simril, Ken
Singapore
Singapore investment fund
Skilling, Jeff
small investors. See individual investors
Smith, Paul
Smith, Randall
Smith, Win
Smith Barney. See also Salomon Smith Barney
Somers, Dan
Sommer, Ron
Southwestern Bell
Ameritech merger
Pacific Telesis acquisition
See also SBC Communications Spain
Speculative rating
Spies, Al
spinning
ban on
Grubman’s answer to
Congressional questions about
Reingold’s answer to Clark
McLeod request for
Spitzer, Eliot
extent of investigations by
rule changes and
settlements by
Sprint
downgrades of
Esrey resignation/severance package and
financial problems of
local startup competitors to
Qwest’s advantage over
tracking stock and
WorldCom bid for
Sprint PCS
SP Telecom. See Qwest Communications
SSB. See Salomon Smith Barney
AT&T purchase of
bubble burst and
as good investment
mergers and
WorldCom purchase of
State Street Bank
State Street Research
Steffens, John L. (“Launny”)
Stewart, Martha
stock analysts. See analysts stock brokers
stock indexes
stock market. See bull market; Wall
Street stock options
expensing of
stock ratings. See rating categories Strong Buy rating (CSFB system)
Strumingher, Eric
Sudikoff, Jeffrey
Sullivan, Scott
congressional hearings and
prison sentence of
WorldCom’s sham finances and
swaps
Szeliga, Robin
Taubman, Paul
Taylor, Elizabeth
technology companies
bubble burst and
IPO boom and
Vortex Conference and
Telecom Cafe
telecom industry
bubble in
bursting of bubble in
competition and
consolidations and
as deal center
decline of
deregulation and
eleven major companies in
Grubman as face of
Internet’s effect on
last hurrah for
mergers in. See mergers and acquisitions
momentum in
revenue inflation by
Salomon’s dominance in
September 11 attacks and
significance of Qwest’s entrance into
technology cross-fertilization with
turning point for
watershed year for
See also specific companies
Telecommunications Act of 1996
Tele-Communications
International
Telefonica de España
Telefonica del Peru
Teleport Communications
MFS secondary offering and
Teligent
Telstra
Tempest, Drake
terminal multiple
Thakore, Nick
3Com
TIAA–CREF
Time Warner
T-Mobile
Toole, Dick
tracking stock
Travelers Corporation
T. Rowe Price
Trujillo, Sol
as Telstra CEO
US West–Qwest deal and
Tully, Dan
2 stock rating
Tyco
Underperform rating
underpriced stocks
Unger, Laura
US West
financial problems of
Global Crossing bid for
Qwest merger
UUNet
valuation
value investors
Vander Ploeg, Mark
venture capitalists
Verizon
video services
Vodafone
Voice-Stream
Vortex Conference
Wachovia Securities
Waddell & Reed
Wallace, Sean
Wall Street
bonus checks
crash of 2000
reform proposals
scandals
as uneven playing field
See also Bull market
Wall Street analysts. See analysts Wall Street investigations.
See also
Spitzer, Eliot
Wall Street Journal, 25
on AT&T Wireless IPO underwriting
Grubman critiques in
M&A league tables and
Wall $treet Week with Louis
Rukeyser (TV program)
Walsh, David
Walter, John
Wann, Rudy
Ward, Chuck
Warner, Lara
Wasserstein, Bruce
Wasserstein Perella
Waters, Richard
Weaver, Connie
Web browser
Weill, Sanford I. (Sandy)
Grubman relationship
philanthropies of
Weingarten, Reid
Welch, Wayne
Weller, Tim
Wellington
Wheat, Allen
Whitacre, Ed
Who Wants to Be a Millionaire (TV program)
Wiggin and Dana
Williams, Jeff
Williams, Robin
Williams Communications
WilTel
Winnick, Gary
civil suits against
congressional hearing testimony of
current situation of
personal finances of
restoration of some 401(k) losses by
See also Global Crossing Winstar Communications
wireless telecom
BlackBerry capabilities and
See also AT&T Wireless; cellular companies
Wolfe, Lee
Woodruff, Robert
Woodstock Inn
WorldCom
acquisition strategy of
bandwidth and
bankruptcy filing of
class-action suits against
congressional hearings on
downfall of
downgrades of
Ebbers’s loan from
finances of
as financial sham
glamour of
growth of
Grubman’s special relationship with. See under Grubman, Jack
IDB acquisition of
Internet transmission and
lawsuit settlements by
LDDS and
local startup competitors to
Reingold’s view of
ruin caused by
SEC investigation of
selective disclosure by
share price fall of
Sidgmore as acting CEO of
soaring stock of
startup local carriers and
takeover rumors about
tracking stocks and
zero valuation of
See also Ebbers, Bernie; MCI
WorldCom Inc.
World Financial Center
World Trade Center
Wright, Orville (MCI officer)
Xerox
XO Communications
Zraly, Kevin