Reports criticize Ebbers, Sullivan for dominating WorldCom

The Clarion Ledger, Jackson Ms. ^ | June 9, 2003

[WKB]

McLEAN, Va.

[WKB]

Just thought you would like to know.

[dixiechick2000]

Thanks for the ping!

"The report faulted Ebbers for fostering a poisonous corporate culture and said he was aware, at a minimum, WorldCom was meeting revenue expectations through "financial gimmickry."

"In one incident cited by the investigators, accounting executive Buford Yates told an underling who questioned the company's books: "Show those numbers to the damn auditors and I'll throw you out the (expletive) window."

"We have heard numerous accounts of Ebbers' demand for results — on occasion emotional, insulting, and with express reference to the personal financial harm he faced if the stock price declined — we have heard none in which he demanded or rewarded ethical business practices," the report said."

Unfortunately, this kind of thinking is more common than most would think.

Thanks for the ping! I heard this report was coming out...glad to see someone, and I think the correct "someone", take the heat for this outrageous behavior.

[WKB]

Thanks for the ping!

You are more than welcome.

[eeriegeno]

Richard Breeden, the court-appointed monitor overseeing certain changes at WorldCom, said "Ebbers thought he owned this company. He thought it was his personal piggy bank and that he could do whatever he wanted. And the worst indictment of the board was that they let him think that,"

[WKB]

. He thought it was his personal piggy bank and that he could do whatever he wanted.

What is it they say about "absolute power"?

[wardaddy]

He showed what was in my view questionable character in Clinton MS in his personal life involving college aged girls....according to second hand sources I know.