oliphant5
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join:2003-05-24
Corona, CA
| reply to SRFireside
Re: And this changes what?
Showing poor performance?!? They netted over $200 million in July and another $132 million in August AND they are building cash reserves at a huge rate ($600M in Aug to now over $5 billion). All this despite high reorganization costs.
What poor performance are you referring to? You should look at the monthly reports.
I think the new MCI leadership is doing an excellent job bringing the company back after the trashing by the old regime. MCI will emerge in a great position despite the huge hole it was in and despite the sluggish economy. I don't know what else you could expect from this management team that they haven't delivered. IMHO they deserve every penny they're getting, and those 55,000 employees who had their jobs saved would, if they think about it, think about how bad it could have been, would agree. Every employee was at risk for layoffs, whether it's Worldcom, Boeing or any other large corporation...but that's not the case now, especially at MCI.
The only ones critical of MCI now are their competitors. Customers are getting good service (according to recent industry awards) and their employees are working and MCI will certainly start expanding again.
MCI continues an excellent employee benefit package, 100% matching contributions to 401K to 5% of employee salary, comprehensive medical including prescriptions, dental, vision, life insurance, and disability.
And the continued success of the MCI recovery is reflected in that they're hiring, they are putting more and more people back to work.
In the face of all of their success, you question the bonuses paid to the leadership that made it happen? IMHO, that's how it should be...bonuses for company success. It seems to me that with this all new administration at MCI you get what you pay for, Capellas and the rest have saved 55,000 jobs, maintained the employee benefit packages (while many other companies can't as evidenced by worker strikes here in Cali), made MCI profitable in such a short time...and hell, they aren't even out of bankruptcy yet.
Say what you will about the old corrupt regime of Worldcom (they should all get life in Federal ass-pounding prison and their assets liquidated) but the new leadership at MCI shouldn't be painted with the same brush, especially in the face of such continuing success.
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[text was edited by author 2003-10-19 13:53:38] |
