WorldCom's New CEO Aims High

WorldCom (WCOM Quote) found a replacement for Bernie Ebbers. Judging by his lofty words, he could easily be Rip Van Winkle.

OK, so the new CEO is actually well-regarded UUNet veteran John Sidgmore. But to investors who fear the worst for WorldCom, Sidgmore's promise on a Tuesday conference call to return the company to its fast-growing heyday only stoked fears of further backsliding. As strong a salesman as Sidgmore may be, they say, he isn't the right man for this debt-heavy, cash-squeezed, government-probed telco.

While observers agree that it was Ebbers who steered WorldCom headlong into crisis, they say his efforts to correct the damage should, if anything, be redoubled rather than relaxed. And anyone who has been looking at the telecom industry's sorry numbers in recent weeks knows that growth is going to be a tall order for a company that shrank more than 2% in the latest quarter. ...