Summary:

New York Times :: Ebbers Made $11 Million on 21 Stock Offerings ::Bernard J. Ebbers, WorldCom’s former chief executive, made more than $11 million in four years on 21 hot stock offerings he received from Salomon Smith Barney, according to documents released yesterday by the House […]

New York Times :: Ebbers Made $11 Million on 21 Stock Offerings ::Bernard J. Ebbers, WorldCom’s former chief executive, made more than $11 million in four years on 21 hot stock offerings he received from Salomon Smith Barney, according to documents released yesterday by the House Financial Services Committee. Mr. Ebbers lost money on five trades, according to the documents, and would have made far more had he sold his stakes in some of the companies before he actually did. The losses that Mr. Ebbers incurred in his Salomon account seem to confirm that he was one of the telecommunications industry’s true believers.

By Om Malik

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