Jean C. Monty resigned today as chairman and chief executive of BCE, Canada's dominant telecommunications company, after telling investors at a conference here that the company was backing away from its beleaguered Teleglobe unit. ... Plans an $8B writedown for Q2. ... "[Monty] decided that the headwinds were too much going forward." ... [Inexplicably,] BCE's stock soared 20% on the day ...

You've got to know when to hold 'em, when to fold 'em ... when to walk away, when to run ... Ever try bluffing your way through a round of five-card stud while clinging madly to the back of a bucking bronco in the midst of a stampede? You will, and BCE will bring it to you.

Chief Quits at Phone Giant in Canada, and Stock Soars