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Re: Forget Bernie...

  • From: Rachel K. Warren
  • Date: Thu May 02 06:58:28 2002

On Thu, May 02, 2002 at 04:04:56AM -0400, blitz wrote:
> Bernie was dragged kicking and screaming out of Wcom today according to 
> news I read....perhaps they chained him to his multi-milliondollar sailboat 
> and pushed it twords the Bermuda triangle.
> John Sidgmore is now CEO. Yawn...
> Of course, they make little mention of his $630 mil "loan" that seems to be 
> "dissapeared".

It hasn't all dissapeared, unless Mr. Ebbers is lying (which may be the case) -

Case: What are you going to do now? 

Ebbers: I'm going to spend my time fulfilling my obligation to the company. 
One is to liquidate the debt I owe the company.

Case: Which is how much?

Ebbers: Three hundred and sixty some million dollars. 

Case: And how are you going to do that? 

Ebbers: The good Lord has given me assets which have a much greater value 
than that. I'm going to be restructuring those assets or maybe selling 
some of them. John Sidgmore has asked me to stay on to be a consultant to 
him. I'm going to do everything I can to help the company. It will be an 
adjustment but it'll be fun.

The interview overall is fairly amusing.


The trouble with the world is that the stupid are cocksure and the
intelligent are full of doubt. - Bertrand Russell