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Global Crossing: Worlds
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FLORHAM PARK, N.J., Jan. 8 /PRNewswire-FirstCall/ -- Global Crossing (Nasdaq: GLBC - News), a leading global IP solutions provider, today announced that it has been named to the NASDAQ Global Select Market. The NASDAQ Global Select Market has the highest initial listing standards of any exchange in the world based on market value and financial requirements. Shares of Global Crossing common stock began trading on the NASDAQ Global Select Market on January 2, 2008.
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By this time, the finance world was losing confidence rapidly, and Global Crossing's stock price continued to fall, hitting five dollars a share by November, 2001. On December 20, it was revealed that
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Legere didn't elaborate on what kind of inside track Global Crossing initially had. AT&T, Qwest Communications, WorldCom and Sprint all formally protested the award last July, but the General Accounting Office never investigated their claims because Defense canceled the contract and started the process over again. Former and current Global Crossing executives have said that their competitors protested for fear of losing any share of the federal market.
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