Global Crossing gained a great deal of publicity from sponsorship of NASCAR racing and the attempt to rescue a Russian submarine, but its business was struggling. By early 2001, emerging telecommunications carriers and online businesses – two groups Global Crossing had been relying on to build traffic on its network – were fading fast. Walt Disney withdrew from its money-losing site Go.com; eToys announced that it was running out of cash. Many telecom companies filed for bankruptcy that year, including Global Crossing customers Northpoint Communications Group and GST Telecommunications. Nevertheless, Casey projected continued financial growth, with a 30% growth target for 2001.
In June 2001, Global Crossing completed its core network, spanning four continents, 27 countries, and 200 major cities, and on June 29 it completed the sale of its local telephone-company business. Casey's confidence in the company's strength seemed to sustain that of investors, but third-quarter filings for 2001 were considered disappointing, and Global Crossing announced plans to dispose of Global Marine.