WorldCom Spells New Approach M-C-I

The new MCI may end up looking a lot like the old MCI.

With WorldCom moving closer to settling fraud charges with regulators, the industry is focusing intently on the embattled phone giant's restructuring efforts. The company projects confidence, pledging on its Web site to offer "the same strengths, but a new approach to doing business."

But as reliable details about WorldCom's actual operating performance become available, some observers are increasingly saying that the healing process will hinge on the removal of many of its constituent parts. ...