WorldCom's Ebbers eats humble pie

 

latest developments

WorldCom CEO Bernie Ebbers tries to revive the company's stock price with the creation of a tracking stock and apologies, but investors react by sending shares to a new 52-week low. "We recognize that as a company we have let you as investors down." - WorldCom CEO Bernie Ebbers

WorldCom CEO loses his swagger video Wall Street conqueror Bernie Ebbers, WorldCom's chief executive, seems to have lost his swagger after admitting mistakes and asking shareholders for patience. WorldCom split: the death of long-distance? Jeanne Schaaf, analyst, Forrester Research WorldCom confirms long-distance tracker, lowers expectations update The long-distance giant becomes the latest provider to separate that business from its other offerings in an attempt to turn around a dwindling stock price. Street cool to WorldCom restructuring update Investors are unimpressed with the company's creation of a tracking stock for consumer long-distance, sending its stock even lower. Earnings warnings cut Nasdaq rally short update Earnings warnings from WorldCom and Altera squelch any hopes for a lasting rally in the tech sector, while old-economy stocks also head south.