Rodent Regatta

THE BANKS DIDN’T FREEZE THE CASH

on Friday, but they meet again on Tuesday with the court. This company’s stockholders won’t see a dime. Worldcom will be faced with deciding what business(es) it wants to emerge from bankruptcy with. Otherwise, the creditors and the court are likely to break the business into pieces and sell them in an attempt to recover some of the money. The company’s sales in 2001 totaled $21.3 billion. That’s a fair amount of telecom market share to throw up for grabs.

Court Won’t Freeze WorldCom Assets [Wall Street Journal]