Sr Tech
Premium
join:2003-01-19
New Fairfield, CT | OH What a Shame
Ha Ha Ha... |
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petrus
join:2002-01-09
Atlanta, GA
| Bernard Ebbers and the rest of his "gang" should go to prison. They ruined a lot of peoples lives while they were building their multi-million dollar homes and buying Yachts, while defrauding the public, their investors, their sales Agents and their employees. Many people lost huge investments, retirements, pensions and residual income because of their illegal activities. Why should these guys have anything at all? If You or I had done anything like this even on a very small scale, we would serve time. The wealthy crooks in this Country seem to be able to get away with thier crimes. These guys need to be made an example of. Yes I was affected. I was recieving a substantial amount of monthly commission income for work that I had done for Worldcom and in spite of a contract, they just decided they would no longer pay me along with many others.
I hope the public will not reward Worldcom further by doing business with the newly resurrected MCI (it's still Worldcom). They don't deserve Your business. Do I sound bitter? Yes, I suppose I am. I don't like getting screwed over. I say, put them in prison and throw away the key. |
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Maxo
Your tax dollars at work.
Premium,VIP
join:2002-11-04
Tallahassee, FL
clubs: | Wbat are you talking about? This guy has to settle for the smaller jacuzzi. What more do you want out of him? Sheesh.
JKBTW;)
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For the memory of Johnny Cashhttp://www.maxolasersquad.com |
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tempman
join:2003-04-30
Tarrytown, NY
| reply to petrus
Just put him in jail and throw away the key? No trial. No need to prove he is guilty of anything, just put him in jail. Now I'm not defending old Bernie, but I do think he is entitled to due process just like the rest of us. Bernie has been under the microscope for a while by the Feds, but that haven't charged him with anything yet. Only Oklahoma has filed charges against him. Before we sentence him to life in prison, I think we should allow him his constituional rights of a trial. I'm sure old Bernie is no boyscout, but that's my opinion and we don't send people to jail based on opinions.
Opinions are like a**holes, everyones got one. |
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SRFireside
join:2001-01-19
Houston, TX
| And this changes what?
Nice sentiment from Worldcom, only how does this change anything? Sure they are hitting Ebbers. He can be the scapegoat now. What about the current executives? What kind of bonuses and salaries are they receiving while the lower ranks have to deal with not-so-enticing salaries and fears of lay offs? It would be nice if the exhorbant bonuses were done across the board and not just on one guy they feel they can persecute just so they can look good.
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Love Science Fiction? www.spacestationzoom.com |
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DaSneaky1D
one wall to block them all
Premium,MVM
join:2001-03-29
The Lou
 ·Charter Pipeline
| This does change things. For the past couple of years, Bernie has gotten away cleanly. He put the blame on fall guy Scott Thompson while he continued to receive his severence and life time health coverage for him and his wife. This is actually going to do some damage. Taking away his money and holdings forces him to repay his creditors. If no one will give him a loan to do it (who wants their name associated with him), the main person behind the whole Wcom failure is hit...and hard.
There may be other people that were involved, but his name was on my check...before I got laid off.
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] ::my trivial ramblings:: [ |
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bistro777
Donuts-Is There Anything They Can't Do?
Premium
join:2002-02-07
Englewood, CO
| reply to tempman
Re: OH What a Shame
I agree with due process and all...but I find it ironic that the only thing Bernie ever apparetnly "got down on paper" was his severance package. The rest of the smoke and mirrors that constituted his involvement with the massive fraud at WCOM was, for the most part, verbal and without a paper trail. So unfortunately - just like OJ - he'll probably escape criminal penalties and just get hit (maybe) with civil damages...while sheltering assets under Florida's homestead statues, etc.
Fly WorldConAir - staring Bernie Ebbers as Cyrus 'The Virus' Grissom |
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SRFireside
join:2001-01-19
Houston, TX | reply to DaSneaky1D
Re: And this changes what?
Still I don't think the company has made any real changes since then. Maybe one person is getting their just desserts, but what about the rest of the cancer?
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Love Science Fiction? www.spacestationzoom.com |
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mrchris
We don't miss you Bush
Premium
join:2002-10-01
North Babylon, NY | reply to Sr Tech
Re: OH What a Shame
He doesn't deserve the $$$$$ cause of his activities that screwed Worldcom up. |
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Theo25
@attbi.com | He screwed over all shareholders
He shouldn't get a dime, and should get some jail time on top of it. He screwed over millions of people who bought shares based on his lies. |
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bmn
? ? ?
Premium,ExMod 2003-06
join:2001-03-15
hiatus
| Bleeding him slowly...
quote:
WorldCom has already begun selling off Ebbers's yacht-building business and Canadian ranch. However, they are at the same time trying not to push Ebbers into bankruptcy, which would wipe out his obligation to repay his debts.
Heh heh heh... I like that. Instead of killing him with one fell swoop, bleed him dry. Hopefuily when they are done with him and the like of people like Kenneth Lay, they their class position goes from being in the corporate spike to the American underclass.
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Male by birth... Geek by choice. -- I seen the error of my ways... Politics are the greatest waste of human effort ever! |
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rshoch
Premium
join:2003-09-01
Santa Ana, CA
| Community Service.
Perhaps some justice would be served if Ebbers, Lay, certain stock analysts, and select investment bankers did some serious community service as atonement.
There are more than a few opportunities for these folks to repent and apply their skills for the betterment of others.
How 'bout 10 years in Iraq, Afghanistan, Bosnia, Africa, South America, Haiti, ... |
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DaSneaky1D
one wall to block them all
Premium,MVM
join:2001-03-29
The Lou
·Charter Pipeline
| reply to SRFireside
Re: And this changes what?
I still keep in touch with some people that work there. They are making everyone take an ethics course and other things like that. True, there probably are still some very shady pratices going on, but considering how much debt they had to clear, I think they will try to with hold as much money from key people as possible.
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] ::my trivial ramblings:: [ |
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RonSMeyer
join:2000-05-12
Saint Louis, MO | reply to DaSneaky1D
Scott Sullivan not Scott Thompson. |
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Iowan5
Premium
join:2002-11-27
Des Moines, IA
| reply to rshoch
Re: Community Service.
No, not Bosnia or South Africa or similar countries, it's not that bad.
Iraq or Afghanistan only 
[text was edited by author 2003-10-18 16:16:00] |
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flankspeed8
join:2001-07-20
Saint Paul, MN
clubs:
 ·Verizon FIOS
| Are they serious?
"The company fears that if Ebbers filed for personal bankruptcy, it would wipe out his obligation to repay his debts. Under WorldCom's reorganization plan, all but about $6 billion of its $41 billion in debt would be erased by the bankruptcy process."
Is the new Worldcom, or MCI, whatever they are called so naive as to think that Ebbers will pay back .01 of this money in a million years?? We are talking 400 million dollars. What a joke! |
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oliphant5
Got Identity?
Premium
join:2003-05-24
Corona, CA
| reply to SRFireside
Re: And this changes what?
said by SRFireside  :
Nice sentiment from Worldcom, only how does this change anything? Sure they are hitting Ebbers. He can be the scapegoat now. What about the current executives? What kind of bonuses and salaries are they receiving while the lower ranks have to deal with not-so-enticing salaries and fears of lay offs? It would be nice if the exhorbant bonuses were done across the board and not just on one guy they feel they can persecute just so they can look good.
Anyone who is not happy with their station in life should worry less about why someone is doing better than them and concentrate more on improving themselves by their own merit.
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-- Munis Killed the Telco Star -- Powered by Barry McKockenner Racing in association with Jack Mikkokov Motorsports |
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SRFireside
join:2001-01-19
Houston, TX
| I'm talking more about the lack of raises and massive on those levels while upper management and the executives continue to get massive bonus checks, company perks and more. They try to validate the layoffs while at the same time paying themselves a lot more than necessary. Lets not forget the stockholders who got screwed by the same thinking.
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Love Science Fiction? www.spacestationzoom.com |
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oliphant5
Got Identity?
Premium
join:2003-05-24
Corona, CA
| But the "bonuses" are part of their salary. People have screamed that top management shouldn't just get money to get money but rather it should be tied to performance. Now when the company performs, top management successfully navigating the company through bankruptcy and no doubt getting the company great deals from the court (staying off liquidation and ultimately 100% layoffs) and they get a bonus people still bitch. MCI elected to buy top people including Capellas, who saved Compaq.
My feelings are, unless the CEO just gets a straight $50K/yr salary people will bitch.
If you want to punish Worldcom leadership, then you should devote your efforts toward to leadership that drove Worldcom to bankruptcy, not the all new current one who is getting them out faster than anyone could have imagined much to the dismay of Worldcom's competitors.
Meanwhile, we see from this article, that MCI isn't just going to pay fatcats for the sake of paying. If you visit the MCI restructuring site, you'll see just how much they've accomplished since kicking out the old regime. »global.mci.com/news/ But like most news, the good doesn't make the from page while the bad or controversial does.
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-- Munis Killed the Telco Star -- Powered by Barry McKockenner Racing in association with Jack Mikkokov Motorsports
[text was edited by author 2003-10-19 11:23:26] |
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SRFireside
join:2001-01-19
Houston, TX
| All I am reading from that link is restructuring to help deal with their creditors and a blurb about the new ethics leader. My stance is still the same because I really don't know how much has changed yet. For a company that is under bankruptcy protection I am figuring the bonuses shouldn't be that high. Afterall the books are now showing very poor performance. This is the stuff we keep reading about with a lot of other telecommunication companies in the past.
So again I ask what has changed? Has the bonus structure changed to reflect a more realistic acceptance of rewards or is it still business as usual with the executives getting gobs of cash in spite of poor performance? Are they looking closer into decisions that harm the support staff (such as layoffs) when considering bonuses during times when the company's stock is faltering? I can't call a company very ethical in the long run if these issues haven't been resolved or at least met. Yeah I know. That means I would call most companies with investors unethical, but that's the way I see it.
BTW if the stuff I mentioned has been addressed and is on the site I didn't see it. Please provide a direct or quote if you can. If it's not mentioned then that's where I stand.
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Love Science Fiction? www.spacestationzoom.com |
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