WorldCom

Paper Summary:

This paper describes the unethical management and business conduct of WorldCom and its CEO, Bernard J. (Bernie) Ebbers. The paper details Ebbers's ethical failures in his attempt to make WorldCom the number-one stock on the market and describes the consequences of his mismanagement.

From the Paper:

"While much of the business world was gnashing its teeth over the dot-com bust, telephony was having a bad day, or at least, that portion of it that had been subsumed into giant WorldCom was. In 2001, "The number of competitive local telephone companies in operation dropped to 150 from 330 the previous year, and long distance carriers lost pricing power and market share to the regional Bell and other local telephone companies. Many companies had entered the market for Internet services in the late 1990s, and the resulting expansion in network capacity led to a glut in the market" (Zekany et al, 2004, p. 101+). That situation might lead some CEOs to err on the side of caution, but the CEO of WorldCom, Bernard J. (Bernie) Ebbers, was riding a huge wave of publicity, generated by his own grandiose scheme for WorldCom to become Wall Street's all-time Number One stock."

More papers on WorldCom:

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