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CWA President Morton Bahr Applauds GSA Decision to Suspend MCI/WorldCom from Federal Contracts
President Morton Bahr of the Communications Workers of America issued the following statement today:
The General Services Administration has taken welcome and appropriate action in suspending MCI/WorldCom from eligibility for doing business with the government.
MCI/WorldCom has the dubious distinction of having committed the largest corporate fraud in history and causing incalculable harm to tens of thousands of people. Its fraud-induced bankruptcy cost investors – largely workers' pension funds – more than $200 billion. MCI/WorldCom's lies and false financial reports destabilized the entire telecommunications industry and cost jobs and retirement savings of workers throughout the sector.
We have criticized the rewarding of this corporate lawbreaker with contracts to rebuild Iraq's wireless network and for other federal work. The GSA's announcement today helps to send the message to corporate America that indeed crime doesn't pay.
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The General Services Administration has taken welcome and appropriate action in suspending MCI/WorldCom from eligibility for doing business with the government.
MCI/WorldCom has the dubious distinction of having committed the largest corporate fraud in history and causing incalculable harm to tens of thousands of people. Its fraud-induced bankruptcy cost investors – largely workers' pension funds – more than $200 billion. MCI/WorldCom's lies and false financial reports destabilized the entire telecommunications industry and cost jobs and retirement savings of workers throughout the sector.
We have criticized the rewarding of this corporate lawbreaker with contracts to rebuild Iraq's wireless network and for other federal work. The GSA's announcement today helps to send the message to corporate America that indeed crime doesn't pay.
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