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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (168709)	2/8/2002 11:40:30 AM
From: John Koligman	Read Replies (1) \| Respond to of 176387

I loved the line stating that the amount of money WCOM is 'loaning' good 'ol Bernie exceeds it's quarterly profit. I'd love to get a deal like that covering me <ggg>... Speaking of whipping out those charts, isn't that what Mikey used to do??? John "Bernard J. Ebbers, the brash chief executive of WorldCom Inc., used to trot out a chart every time he addressed a crowd showing how even a small investment in his fast-growing long-distance telephone and Internet empire had skyrocketed in value. Now, with WorldCom's stock plunging, Mr. Ebbers owes his company $339.7 million to cover loans he took out to buy his own shares. His debt to the company he built from scratch is so big that it exceeds the $258 million fourth-quarter profit the Clinton, Miss.-based WorldCom reported Thursday. On Thursday, Mr. Ebbers said that WorldCom had stepped in to cover a loan of $198.7 million that he owed to Bank of America and the company itself. The company has also extended him a credit line of $165 million, $141 million of which he has used. The loan is payable on demand and bears interest at the company's going rate for borrowing; his shares in WorldCom are his collateral. Mr. Ebbers can't sell his stock without the company's permission."