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Technology Stocks : WCOM
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To: Paul Berggren who started this subject6/29/2002 7:14:09 AM
From: JOHN A.  Read Replies (1) of 11568
 
Sidgmore has spent the past two days trying to soothe bankers, customers and employees and explaining the disclosure Tuesday that the telecommunications company improperly accounted for $3.9 billion in costs. The crisis could drive WorldCom, the No. 2 long-distance carrier, into Chapter 11 bankruptcy.
Sidgmore's immediate task is to prevent the scandal from collapsing WorldCom. If the company survives that, he believes it can turn around. He says he'll need to divest some pieces. And he'll have to deal with other issues, such as $408 million the company loaned Ebbers. "If we get rid of all this nonsense Bernie took on and the controversy over the loans, underneath is a really good company," Sidgmore says.
usatoday.com
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