Spreading Bernie's Slime

Several long-time exeuctives of MCI and WorldCom resigned yesterday after being singled out by Richard Thornburgh, appointed to investigate WorldCom's mega-collapse, for not ensuring directors paid closer attention when signing off on acquisitions and approving multi-millon dollar loans to former Chief Executive Bernard Ebbers. WorldCom Says General Counsel, Criticized in Report, Resigns [Bloomberg.com].

The funny thing is that the GC, Mike Salsbury, is someone I worked for long ago (15+ years). I won't comment on his reputation, but resigning in disgrace under the cloud of investigation in the world's largest corporate scandal is certainly not the way anyone wants to go. (Sure beats "the perp walk" though!!) Bernie lost his ranch and now faces possible indictment. How far will his slime spread? The only way to answer that question is to see how far the culuture he brought to WorldCom infected other high-ranking executives.

 Posted by glenn