CNET también está disponible en español. Don't show this again. And Sidgmore is repeating his message of rebirth: "I want to assure our customers and employees that the company remains viable and committed to a long-term future. Our services are in no way affected by this matter, and our dedication to meeting customer needs remains unwavering," he said in a statement Tuesday. The former WorldCom vice chairman said late Tuesday that he and other managers were "shocked" by the discoveries--potentially the largest fraud in the history of corporate America.
"I have committed to driving fundamental change at WorldCom," the 51-year-old CEO said in a statement, "and this matter will not deter the management team from fulfilling our plans.", Sidgmore was not available for comment Wednesday, The Securities and Exchange Commission was already investigating the Clinton, Miss.-based telecommunications giant, the United States' No, 2 long-distance provider and controller of a large portion of the nation's Internet backbone, uag trooper iphone xr protective wallet case - black At the time of Ebbers' ouster in late April, the company had $30 billion in debt and was in rocky negotiations with banks over a $5 billion line of credit..
During his first two days at the helm of WorldCom, Sidgmore called the company's largest customers to reassure them. He also launched a 30-day assessment of assets and told staffers that he expected to sell off several pieces of WorldCom to raise cash. And during his first conference call as CEO on April 30, Sidgmore was candid about WorldCom's uphill battle to boost profits and restore faith among shareholders. "I'm not here to say I'm going to single-handedly turn things around," Sidgmore said at the time. "But the company has a much more negative face and a negative perception than it deserves..In terms of restoring credibility, I think I and the management might be able to turn things around.".
But it's unclear if Sidgmore, who came to WorldCom with its 1996 acquisition of MFS Communications, knew exactly how difficult the task of turning WorldCom around would prove, In his first two months on the job, he talked to dozens of journalists and Wall Street analysts, in some cases persuading them that WorldCom could reverse its fortunes over the long term, Articles in publications ranging from The Washington Post to Business Week were cautiously optimistic about Sidgmore, who was seen as a decent counterbalance to uag trooper iphone xr protective wallet case - black Ebbers' eccentric style and highly publicized management gaffes..
It's also difficult to tell whether the public will view Tuesday's disclosure of fraudulent bookings as the ultimate attempt by Sidgmore to rebuild trust--or whether the hasty announcement will go down as an indictment of Sidgmore and all senior managers at the company. Wall Street clearly took a pessimistic view, and President Bush echoed the lack of confidence, saying he was "deeply concerned" about the WorldCom scandal. "We will fully investigate and hold people accountable for misleading not only shareholders, but employees as well," Bush said while attending the Group of Eight Summit in Alberta, Canada. "Those entrusted with shareholders' money must--must--strive for the highest of high standards.".