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| WorldCom CEO Resigns by Jeremy at 8:50 am EDT, Apr 30, 2002 | |||
Bernard J. Ebbers, who built WorldCom Inc. into a global telecommunications giant but then saw its fortunes and stock price crumble amid fierce industry competition and questions about the company's finances, has resigned as chief executive and president. WorldCom's stock has lost 80% of its value this year, and fell nearly 30% on Monday alone. Investors fret that the prospects may be strong for default on its $30B debt. Is Bernie Ebbers running away, or only walking? The answer may tell us how much time WorldCom has left. | |||
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