UNews - WorldCom

Cooper tells WorldCom fraud story

trevor.kenney — Thu, 29 Jan 2009 16:37:25 +0000

Cynthia Cooper brought a corporate giant to its knees and now she's filling seats by telling her story.

Known internationally as the WorldCom whistleblower, Cooper and her team of internal auditors launched a 2002 investigation that uncovered $3.8 billion in fraud — the largest corporate fraud in history at that time. The journey she took in first finding the fraud, and then getting it out in the open is part of Cooper's presentation today (12 p.m. to 1 p.m.) in the Students' Union A & B ballrooms.

"It's an absolutely fascinating story about how she and her team became aware of the issue and the effort she had to go through to get anybody to pay attention," U of L Assistant Professor of Management Dr. Carla Carnaghan says. "She initially couldn't get the board of directors to pay attention, couldn't get more senior people in the hierarchy to pay attention and several people tried to tell her to stop looking. She really had to fight to bring this to light."

Carnaghan has seen Cooper speak in the past and says her story and its presentation is riveting.

"I think this appeals to anybody who's interested in ethics, who's interested in corporate-social responsibility or the issue of how one person can make a difference," Carnaghan says. "I think she's just a fantastic example of someone who worked hard to make a difference and worked hard to correct a wrong that she saw."

It was 2002 when World-Com, an American telecommunications behemoth was caught painting a false picture of financial growth and profitability to prop up the price of its stock. Cooper and her team of internal auditors brought the fraud (the company's total assets had been inflated by an approximate $11 billion) to light, resulting in a host of firings and resignations, the company filing for Chapter 11 bankruptcy and the eventual conviction of WorldCom co-founder and chief executive officer Bernard Ebbers on fraud and conspiracy charges.

As Cooper speaks today, the world's financial picture is grim and business ethics are a key topic of conversation.

"There may well be other people who have to do similar things and step forward," Carnaghan says. "What she did took a lot of courage, and I think it's a wonderful human interest story."

Cooper, along with fellow corporate whistleblowers Sherron Watkins (Enron) and Coleen Rowley (FBI), was named one of Time's 2002 Persons of the Year.

"I've definitely encouraged all my students in accounting theory to go to this presentation," Carnaghan says. "I've mentioned it to all the faculty too because I just think it's an absolutely fascinating story."

Tickets for the Cynthia Cooper event, part of the CMA Alberta Leadership and Innovation Speaker Series, are free and available at the Career Resources Centre (B610).

GET THE FACTS

• Cooper currently serves as the Chairperson of the Louisiana State ��Ѹ��Դ��߿�Ƭ Center for Internal Auditing Advisory Board and the Mississippi State ��Ѹ��Դ��߿�Ƭ Executive Advisory Board

• A mother of two, Cooper was featured as one of 25 influential working mothers in the November 2004 issue of Working Mother

• Ebbers, the WorldCom co-founder and CEO, was born in Edmonton. He is currently serving a 25-year prison term for his role in the fraud and conspiracy

• WorldCom is now identified as MCI, Inc. Formerly known as LDDS and then LDDS WorldCom, it merged with MCI to form MCI WorldCom and then just WorldCom prior to filing for bankruptcy protection in 2002. It emerged from bankruptcy as MCI, Inc. and was purchased by Verizon Communications in 2006Dr

Strategic Plan will help shape the future

trevor.kenney — Wed, 14 Jan 2009 19:12:31 +0000

A new semester is upon us once again and after a rejuvenating Christmas break, I look forward to an exciting spring at the ��Ѹ��Դ��߿�Ƭ of Lethbridge. Welcome to all new students and welcome back continuing students and all of the staff and faculty.

I will open this month's column by congratulating Andy Hakin (Vice-President Academic and Provost) and Nancy Walker (Vice-President Finance and Administration), co-chairs of the planning committee that created our 2009-2013 Strategic Plan. This project has long been in the works and under their guidance, a dynamic and comprehensive plan has been created.

The process we underwent to produce this strategic plan is extremely important. It was a lengthy process and it involved talking to a lot of people about the ��Ѹ��Դ��߿�Ƭ; finding out what people think about their ��Ѹ��Դ��߿�Ƭ, our ��Ѹ��Դ��߿�Ƭ. I think that kind of conversation is a good thing to have every five years. You find out what people are thinking, what's important to people and from there you are able to put those thoughts and goals into a readable format that has realistic objectives.

This document is a plan for the future. The Strategic Plan is essentially a job description for all of those who work at the university now and in the years ahead. Much of it is focused on creating a better, even more exciting environment for students — that's what we're about anyway — and an even better working environment for our employees.

We want people to be part of the plan and that goes back to the whole process of creating the plan. The process is intended to draw people into the planning effort, rather than coming out with a plan and saying here it is, find your place in it. I'm very happy with what the strategic planning committee has done. They have created a document that very much reads like a constitution. Administration will be helpful with the initial implementation of the plan, but the real implementation will take place in the grassroots of the faculty, the staff and the students.

As the spring semester begins, it's nice to see the 1st Choice Savings Centre gym back in full operational status. I commend the Sport and Recreation Services staff for their diligence in working around the closure of the South gym for the fall semester.

Another opening of note on campus is the new Disabilities Resource Centre. Now located in B760, the centre may have moved only down the hall but the change in location is significant. Students will be served much better by the centre's new space as it provides greatly improved access and will allow Christine Johnson and her talented staff to fully serve their clientele.

We've come to expect a lineup of outstanding guest lecturers here at the ��Ѹ��Դ��߿�Ƭ and the spring semester opens with a fascinating speaker in Cynthia Cooper. Renowned as the whistle blower on WorldCom, the world's greatest corporate fraud at the time, Cooper's Jan. 29 presentation is especially relevant in today's economic climate.

It promises to be an excellent spring semester and I encourage everyone to come out to the Atrium on Feb. 12 and celebrate the launch of our new Strategic Plan. It is your Univer-sity and this plan will help you shape the future

Cooper to tell WorldCom fraud story

trevor.kenney — Wed, 14 Jan 2009 17:38:19 +0000

Cynthia Cooper brought a corporate giant to its knees and now she's filling seats by telling her story.

Known internationally as the WorldCom whistleblower, Cooper and her team of internal auditors launched a 2002 investigation that uncovered $3.8 billion in fraud — the largest corporate fraud in history at that time. The journey she took in first finding the fraud, and then getting it out in the open is part of Cooper's Jan. 29 presentation (12 p.m. to 1 p.m.) in the Students' Union A & B ballrooms.

Carnaghan has seen Cooper speak in the past and says her story and its presentation is riveting.

As Cooper speaks today, the world's financial picture is grim and business ethics are a key topic of conversation.

"There may well be other people who have to do similar things and step forward," Carnaghan says. "What she did took a lot of courage, and I think it's a wonderful human interest story."

Cooper, along with fellow corporate whistleblowers Sherron Watkins (Enron) and Coleen Rowley (FBI), was named one of Time's 2002 Persons of the Year.

Tickets for the Cynthia Cooper event, part of the CMA Alberta Leadership and Innovation Speaker Series, are free and available at the Career Resources Centre (B610).

GET THE FACTS

• A mother of two, Cooper was featured as one of 25 influential working mothers in the November 2004 issue of Working Mother

• Ebbers, the WorldCom co-founder and CEO, was born in Edmonton. He is currently serving a 25-year prison term for his role in the fraud and conspiracy

UNews - WorldCom

Cooper tells WorldCom fraud story

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Strategic Plan will help shape the future

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Cooper to tell WorldCom fraud story

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