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Level 3 makes 2009 InformationWeek 500 List

level3Level 3 Communications, Inc. (NASDAQ: LVLT), made the 2009 InformationWeek 500, an annual listing of the nation’s most innovative users of business technology. The 2009 InformationWeek 500 companies were revealed on Sept.14, 2009 at an awards ceremony held during the InformationWeek 500 Conference at the St. Regis Monarch Beach Resort in Dana Point, Calif.

“Over a period of about 18 months, beginning in the latter part of 2005 and continuing into 2007, Level 3 acquired seven networking companies,” said Michael Dunn, senior vice president of information technology for Level 3. We then embarked on an aggressive strategy to integrate the disparate processes and systems from each of these companies, onto a single information technology platform. We are pleased Unity, our consolidation effort, has been recognized and Level 3 has made the InformationWeek 500.”

Level 3 began realizing efficiencies through Unity as early as late 2006 and saw continued success throughout 2007 and 2008. Through the Unity infrastructure, the company developed one system for the multiple processes associated with the operation of six acquired networks and consolidated two broadcast quality video distribution networks onto a single network. While Level 3 continues to refine processes and internal efficiencies, the company has successfully completed the majority of this massive integration effort and expects to realize full results in the coming years.

“For over 20 years, the InformationWeek 500 has honored the most innovative users of business technology,” said InformationWeek Editor-in-Chief Rob Preston. “Year after year, InformationWeek 500 companies harness technology to improve efficiency, boost productivity, drive revenue, and establish a competitive advantage. We applaud this year’s winners, and the CIOs and other executives whose ingenuity and risk taking are at the center of business technology innovation.”

InformationWeek identifies and honors the nation’s most innovative users of information technology with its annual 500 listing, now in its 21st year, and also tracks the technology, strategies, investments and administrative practices of America’s best-known companies. Top winners have included: Conway, National Semiconductor, Kimberly-Clark, Hilton Hotels and Unum. The InformationWeek 500 rankings are unique among corporate rankings as it spotlights the power of innovation in information technology, rather than simply identifying the biggest IT spenders.

XO obtains new funds through preferred stock

XO Holdings, Inc. (OTCBB: XOHO) today announced that it has raised $780 million through the issuance of two new series of preferred stock in order to retire senior debt, fund future growth initiatives and provide ongoing working capital for the business.

XO Holdings, Inc. issued 555,000 shares of the Company’s 7% Class B Convertible Preferred Stock (“Convertible Preferred Stock”) for consideration of $555,000,000 and 225,000 shares of the Company’s 9.50% Class C Perpetual Preferred Stock (“Perpetual Preferred Stock”) for $225,000,000 to affiliates of Carl C. Icahn, the Company’s Chairman. Continue reading XO obtains new funds through preferred stock