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Wall Street Journal tells the story of big money and big ambition gone awry in a promising technology start-up.. ICG Communications, a telecommunication upstart that provided Internet services, is heading toward Chapter 11 despite industry titans pouring money into the company. ICG borrowed heavily to grow fast, but could not manage its growth. The CEO, a politically-connected jet-setter, was rarely seen in office during troubled times. His shares valued at $88 million in March, is now worth only $980,000.

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