It's about time

Guardian Unlimited | Special reports | WorldCom to reconsider Ebbers payoff WorldCom, the bankrupt telecommunications company, is to reconsider the generous severance it gave to its former boss, Bernie Ebbers, it emerged today.

When Mr Ebbers stepped down as chief executive in late April, just before WorldCom went bankrupt, his package included lifetime retirement pay of $1.5m (£965,988), lifetime use of the corporate jet and a $408m loan with only a 2.3% interest rate.

But the Wall Street Journal reports that WorldCom's board will meet today to consider whether to claw back those generous conditions.