WorldCom Followers Hear Bells in Capellas Talk

By the looks of things, WorldCom's answer to the telecom meltdown is to hire a guy who has never worked for a phone company before.

Hewlett-Packard (HPQ Quote) President Michael Capellas resigned Monday amid reports that WorldCom's board has picked him to lead the company's reorganization. The Wall Street Journal reported that Capellas topped a list of candidates that also included BellSouth (BLS Quote) executive Gary Forsee, as TheStreet reported recently.

A WorldCom spokeswoman said Monday that there was "nothing to say at this point." But company insiders expect a new chief to be named by year-end once auditors and creditors are satisfied that the books have been sufficiently cleansed. And if Capellas is indeed the failed telco's choice as a new leader, it will only add to the murmurings on Wall Street that WorldCom is plotting a path out of the financial mire that will ultimately lead to a deal with a big local phone outfit.

Outside the Bells

The possible choice of an outsider like Capellas comes as a bit of a surprise to observers who have grown accustomed to seeing top telecom spots filled by a never-ending supply of Baby Bell executives. ...