Senate Panel Will Hear Executives’ Testimony
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Top executives from three of the nation’s most troubled telecommunications firms will appear before a Senate panel Tuesday morning to testify about the industry’s woes and how to protect customers from service disruptions at ailing firms.
The executives include John W. Sidgmore, chief executive and president of WorldCom Inc.; John Legere, chief executive of Global Crossing Ltd.; and Afshin Mohebbi, president and chief operating officer of Qwest Communications International Inc. They will testify after a panel discussion featuring Michael K. Powell, chairman of the Federal Communications Commission.
WorldCom, which this week submitted the nation’s largest bankruptcy filing, has admitted to hiding $3.9 billion in expenses to boost earnings. Global Crossing, also in bankruptcy proceedings, and Qwest are both subjects of separate government accounting probes.
Officials of the Senate Commerce Committee said the hearing’s focus will be on industrywide problems and their effects on consumers, but that some questions may involve accusations of wrongdoing.
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