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Capellas Hums Quick-Turnaround Tune at WorldCom
WorldCom's revival effort was humming Friday after the company confirmed Michael Capellas as its new boss.
The bankrupt telco's success in landing a respected chief tells industry watchers that the company's books, besmirched by some $9 billion in erroneous accounting, are now nearly clean. As a result, a revamped company could emerge from Chapter 11 around the middle of next year.
The selection of Capellas, the former Hewlett-Packard president, ended a closely watched executive search that included a handful of phone industry bigwigs, including Gary Forsee, the No. 2 guy at BellSouth (BLS Quote). ...
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