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A United States long-distance telecommunications company. Recently bought from British Telecom
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(1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device.

(2) (Microwave Communications Inc.) The long distance telephone company that was largely responsible for competitive telephone services in the U.S. It all started in 1963 in Springfield, IL. Jack Goeken and four others formed a company to increase sales of two-way radios by building microwave towers along Route 66 from St. Louis to Chicago for truckers. Bill McGowan, a New York consultant, joined the company in 1968 and helped Goeken acquire leases to build towers nationwide at a time when AT&T controlled virtually all long distance in the U.S.

In 1969, the FCC granted MCI the right to offer long distance services and to hook up to AT&T's network for access to the customer's premises, yet MCI was thwarted at every turn. In 1974, it filed a suit against AT&T, and the Justice Department filed its own suit, all of which led to the breakup of AT&T in 1984 (see Divestiture).

Throughout the 1980s and 1990s, MCI raised USD $2.6 billion in capital, offered innovative services and ultimately captured one third of the business market. After McGowan died in 1992, MCI lost its soul and was slower to form novel strategies; however, it did develop one of the best IP networks in the country. In 1997, MCI was acquired by WorldCom for USD $30 billion. Five years later, WorldCom declared bankruptcy, but emerged in 2004 as MCI.

In 2005, MCI was acquired by Verizon Communications, Inc. and became the Verizon business division of the company ( See MCI Mail, WorldCom and MCI Decision.
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References in periodicals archive ?
As depicted in equation (1), output gap depends upon its own lag, monetary conditions index and foreign demand.
"The Role of Monetary Conditions and the Monetary Conditions Index in the Conduct of Policy." Bank of Canada Review, Autumn 1995b, pp.
In the calculation of Monetary Conditions Index the estimation of weights of interest rate and exchange rate for an objective function are very important.
The monetary conditions index appears on the left-hand side of equation (9) while the variables that the index responds to appear on the right-hand side.
Third, could a regular response to housing--perhaps via the type of monetary conditions index discussed by JS--be desirable in smoothing out overall economic activity and housing markets themselves?
A Monetary Conditions Index (MCI) appeared to be the solution to this communication problem (Mayes and Viren, 1998).