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Business community ponders fate of Bernie Ebbers.

Publication: Mississippi Business Journal
Publication Date: 29-MAR-04
Format: Online
Delivery: Immediate Online Access
Full Article Title: Business community ponders fate of Bernie Ebbers.(SECURITIES FRAUD)

Article Excerpt
For four hours March 2, the day former WorldCom CEO Bernie Ebbers was indicted on federal charges that he conspired with his chief financial officer to cook the company's books, the phones rang constantly at the Brookhaven-Lincoln County Chamber of Commerce and Industrial Development Foundation offices.

Reporters from around the globe representing dozens of news organizations --Reuters, The Associated Press, The Wall Street Journal, Chicago Tribune, The Los Angeles Times and Japanese and Canadian press among them--wanted to know what local folks thought about the once hometown hero, who was led away in handcuffs March 3 after surrendering to federal agents on charges of conspiracy to commit securities fraud and making false statements in connection with the collapse of WorldCom.

Ebbers, 62, pleaded innocent.

"We said the same thing over and over: 'no comment,'" said executive director Chandler Russ, with a sigh. "They had the notion that our local economy was tied to the rise and fall of WorldCom, but it's not, which was obviously a good thing. Our economy is tied to being a service provider for Southwest Mississippi, as well as having a strong manufacturing base in our industrial...

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