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WORLDCOM'S DOWN -- AND CERF'S UP

New York, NY June 26, 2002 (ICB TOLL FREE NEWS) ICANNWatch writes that WorldCom spent the last five quarters overstating its cash flow by $3.8 billion in what the New York Times has called "one of the largest cases of false corporate bookkeeping yet." WorldCom's press release is, as MasterCard would say, priceless: "'Our senior management team is shocked'" -- shocked! -- "by these discoveries,' said John Sidgmore, appointed WorldCom CEO on April 29, 2002. 'We are committed to operating WorldCom in accordance with the highest ethical standards.'"

Uh, yeah... And, aside from driving Yet Another Really Big Nail into the high-tech bubble that ICANN has ridden to ill-deserved prominence, what's this got to do with ICANN? Well, someone has to be crass enough to point out the glaringly obvious fact that ICANN's chairman, Vint Cerf, is also senior vice president of Internet Architecture and Technology for WorldCom -- that is, senior management of what would appear to be a borderline criminal organization. If that seems like rough stuff to say, well, tell it to the thousands and thousands and thousands of people who'll be paying a very heavy price indeed for WorldCom's apparent malfeasance -- including the 17,000 people the company plans to start laying off on Friday.

Read the full ICANNWatch article here.

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