MCI\u2019s stock this week began trading on the Nasdaq after a two-year absence.MCI\u2019s\u00a0stock this week began trading on the Nasdaq after a two-year absence.The carrier is trading under the ticker symbol MCIP. The carrier says the \u201cIP\u201d at the end of its ticker is a nod to the company\u2019s Internet heritage.\u201c\u2026MCI is now focused on our future on serving our customers and leading the industry to the next generation of integrated communications MCI President and CEO Michael Capellas said in a printed statement.\u00a0MCI called this a \u201cmilestone of one of the largest corporate turnarounds in history.\u201dMCI, then known as WorldCom, filed for Chapter 11 bankruptcy protection in 2002 after a multibillion-dollar accounting scandal came to light. It also is still the largest bankruptcies in history.Earlier this year the carrier\u00a0emerged from bankruptcy\u00a0after weathering storm after storm.The carrier\u2019s troubles ranged from its arch rival AT&T accusing MCI of illegally routing calls through Canada to avoid access charges. AT&T filed a suit against MCI, but later dropped it. The Federal Government\u2019s General Services Administration (GSA) also questioned the company\u2019s ethics and prevented all government agencies from signing new contracts with the carrier until it addressed this issue.After several months of review and MCI establishing business ethics training for all employees, the GSA lifted the ban.But dark clouds still hover over the company. Last week MCI announced that it is suing its former CEO Bernard Ebbers in an effort to recover more than $300 million he still owes the company. While CEO Ebbers borrowed $408 million from the carrier to cover his personal debts.At the end of June MCI announced it was cutting another 2,000 jobs as it closes two more call centers. That brings the total number of jobs cut in two years to 36,500. It\u2019s a startling number when you consider the company has about 40,000 employees today.And MCI, like its competitors AT&T and Sprint, just can\u2019t seem to stem its revenue nosedive. The carrier is expected to bring in about $20 billion in revenue this year. That\u2019s down from last year when the carrier reported revenue of $24.4 billion and significantly down from its year-end revenue in 2002 of $32.7 billion.And although the company may not be actively looking for a buyer,\u00a0Leucadia National\u2019s move earlier this week\u00a0may have opened the flood gates. MCI announced on Monday that Leucadia, a conglomerate with interests in a variety of business sectors, is filing for approval to purchase \u201cat least\u201d 50% of MCI\u2019s stock with the appropriate federal agencies.Published reports state that former Qwest CEO Joseph Nacchio, himself a target of SEC scrutiny, is advising Leucadia in its effort. Nacchio was drummed out of Qwest two years ago during an inquiry into the carrier's accounting practices and financial health.MCI\u2019s Capellas has stated on a national broadcast financial TV program that Leucadia has not made a bid to buy MCI. But financial analysts have pointed out that if another company was keeping an eye on MCI as a potential acquisition target, Leucadia\u2019s move just motivates them to act sooner rather than later.