preview

Bernard Ebbers Research Paper

Decent Essays

Bernard Ebbers, then chief executive officer of WorldCom. He was named one of Network World’s 25 most powerful people in the telecommunications industry. Bernard Ebbers undoubtedly demonstrated outstanding leadership during his early years of entrepreneurship. His entrepreneurial story is full of legends. His story about "bartenders" napkin sketched "Communication Rhapsody"was knew by people. And after the acquisition of 70 small and medium-sized telecommunications companies he swiftly revived a small local telecommunications company as the second-largest US long-distance telephone company at that moment . Bernard Ebbers became a "star enterprise" favored by Wall Street.

In 1998, Bernard Ebbers, the then CEO of WorldCom, was named …show more content…

Ebbers is very charismatic. His employees described him as a charismatic leader with extraordinary persona. "When he entered a room, he was like a rock star," said a WorldCom employee. “People want to touch him and hold his hand. He created great wealth and people respected him.” Bernie Ebbers’s story was described by author George Gilde as “the most fascinating and incredible in North American operations. One of the inspiring stories." Ebbers Business Development is also very inspired, Murray Waldron, one of Ebbers’ original partners, described him as “the most targeted leader I’ve ever seen”. He hired engineering and accounting expertise to assist him. In his efforts the company reducere company unit costs and achieved rapid expansion successful . Ebbers is also a transformational leader. Ebbers led the company to sell two of the five business jets, cut employee spending accounts, lay off staff, and so on. When he discovered that the company spent $3 million a year buying coffee, he replaced coffee suppliers with vending machines. He announced …show more content…

Brown,p90,2004). Unfortunately, Ebbers did The half-sentence was successful, but it was betrayed by the second half. In the second half of the mad expansion of WorldCom, Ebbers demonstrated severely destructive leadership and took most of the responsibility for WorldCom's failure. The cowboy president’s madman performed a life-threatening tragicomedy. When Ebbers generously borrowed huge bank money to buy stocks of the company, the situation had become very unusual, and he provided personal loans to key senior executives for this purpose. These loans are not documented in the company, and all of these are foreshadowed for the destruction.From January 2001 to March 2002, Berne Ebbers and the chief Finance Officer - Scott Sullivan, converts total operating expenses of billions into capital expenditures, and fabricates 5 quarters of profit of billions big lie. "EBITDA" was a brand new accounting term created by him that means: Profit before interest, tax, depreciation, amortization, which is often referred to as "margin". So-called "amortization" means that the company The intangible assets created by mergers and acquisitions—goodwill—can be digested in batches and internalized, and then converted into tangible assets of “net gains.” Because of the special

Get Access