Word: cooperized
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...Ebbers moved the company here, to his old college town, and everything changed. Employees started wearing their badges around town as a sign of their achievement. A Wal-Mart Supercenter sprang up. And millions of Ebbers' dollars went to making over Mississippi College. When friends came to visit Cynthia Cooper for lunch, she would give them a tour of the facility. This is the town where she had grown up, and she was proud of this company that knew no bounds. Cooper too had ridden the wave, becoming vice president of internal audit of what was, for a time...
Last June, Cooper told the audit committee of WorldCom's board that the company had been playing dirty with its accounting practices. She knew as she said it what would happen. Within days, the company fired its famed chief financial officer, Scott Sullivan, and told the world that it had inflated its profits by $3.8 billion--the largest accounting fraud in history. The number has since grown to $9 billion, and counting. Her colleagues have been placed in handcuffs and led past TV cameras. Shareholders have lost some $3 billion since the news broke, and soon at least...
...Cooper, meanwhile, still drives to the desolate Clinton headquarters every day. She had spent her career trying to get the higher-ups to take her internal-auditing division seriously; it is only now, in bankruptcy, that WorldCom is finally doing so. Cooper, 38, a petite blond, has been given more money and twice as many staff members. Her division is probably the most secure at the company. And it is quite obvious that she is heartbroken. "There have been times," says Cooper, a woman not given to intense displays of emotion, "that I could not stop crying...
...Sources tell TIME that one of the Administration's top choices to replace Kissinger is another Republican veteran, David M. Abshire, ambassador to nato during the Reagan years. The White House, taken aback by Kissinger's abdication, has to make sure this choice sticks. --By Romesh Ratnesar, Matthew Cooper and Michael Weisskopf
...disclose his thick client portfolio. "At his age and stage of life," says a Bush confidant, "he's obviously above politics." That may be just the point Kissinger wants to make, looking more to his place in history than to his place at the power table. --By Matthew Cooper and Michael Weisskopf