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Bernie Ebbers - Worldcom Ethical Profile

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| Bernie Ebbers - WorldCom | Ethical Profile | Khristin B. Vargas | uNIVERSITY OF lA vERNE
1/22/2015
| | |

Table of Contents

Introduction 3 Timeline leading to Ebbers conviction: 3 Current Events 4 Perceived Motivations 5 Impacts 6 Conclusion 6 Bibliography 7

Introduction

“The recent corporate accounting scandals at Enron, WorldCom, and other corporations have helped to fuel a massive loss of confidence in the integrity of American business, Bernie Ebbers was one of the many owners that crashed our integrity” (Carson, 2003, p. 390). Bernie Ebbers, CEO of WorldCom, business executive, and convict, is known to be one of United States most unethical leaders in history. He was convicted on March 15, 2005 on nine counts of conspiracy, securities fraud and making false regulatory filings. WorldCom was 2nd in the nation’s largest long distance telecommunications company, however the company was red flagged when a series of rapid acquisitions took place. The company was founded in 1995 and by 2000 it had seen rapid growth improvements as did Ebbers career. Ebbers went from the big “C” in CEO to the little “C” in convict within a short time frame.
Timeline leading to Ebbers conviction:

* 1980s - Ebbers got involved in the investment, acquisition, and management of telecommunications companies (Ebbers, 2015) * 1995 - Bernie co-founded WorldCom and was given the title of chief executive (Ebbers, 2015) * Late 1990s – Ebbers acquired MFS Communications, Inc. and also made a bid on MCI Communications (Ebbers, 2015). This embarked the start of Ebber’s wealth and fame. * Early 1999 – Bernie was worth an estimated $1.4 billion and had acquired multiple acres of property in Columbia, Louisiana, and the timberlands in the South, along with a minor league hockey team (Ebbers, 2015). * Most of his material items...

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