WorldCom-MCI and Enron and Tyco and Global Crossing and Adelphia cable

by Mike Banks Valentine

WorldCom-MCI has just exploded a suicide bomb in the center of the US marketplace economy, killing 17,000 employees and severely injuring thousands of innocent bystanders.

That type of headline would resonate around the world, bring world leaders together instantly to counter the threat of further terrorism and focus worldwide rage on the perpetrators of such massive destruction of property and loss of life. We'd launch warplanes, call up the national guard, rush to protect assets from further attack and make WorldCom-MCI a universally hated entity.

But instead, what has the WorldCom-MCI debacle wrought?

A few shaking heads, a little political wrangling, a few wagging editorial tongues and vague threats of jail for the perpetrators. "Ooohh! There you go again! Tsk, tsk!"

Massive destruction of financial markets, possible long- term communications (telephone and internet) breakdowns, and total loss of faith in corporate ethics brings down an accounting firm (Arthur Anderson) and we all then sit passively waiting for the next corporate explosion to wipe out OUR retirement benefits. WorldCom SchmerldCom.

This is beyond comprehension for most of us, it's true. WorldCom-MCI is basically a phone company and internet back- bone provider. What does that mean? How does it affect the average Joe? Another big bad company goes bust - So?

I'll let the big boys in the halls of Congress and in major news organizations seethe and pontificate s'more, while I propose that this will be a net gain for the American economy in the long run. What did he say?

Time for a change now.

While WorldCom-MCI has ignited a firestorm of debate, let's take a look at what is likely to happen. After some quite justifiable nervous foot shuffling by that newly unemployed legion of WorldCom-MCI employees. What will come next?

I see about 17,000 potential small business owners come pouring forth from WorldCom-MCI headquarters to find a way to make their future in a world without WorldCom-MCI. They will see that financial security is unlikely, new jobs are difficult to come by and they will consider, along with hundreds of thousands of down sized employees, how to start their own small businesses.

WorldCom-MCI has forced the decision on many, but so has Enron and Tyco and Global Crossing and Adelphia cable. And it's not only that list of corporate terrorists that has put hundreds of thousands of employees on the street with no work, but mergers and downsizings and other corporate shenanigans that have swelled the ranks of potential small business owner wannabe's dramatically.

Currently, small businesses with less than ten employees make up nearly HALF of the US economy. Just last month President Bush spoke to celebrate Small Business Week,

"America's small business owners and their employees represent more than half of the private workforce. These entrepreneurs, who create more than 75 percent of net new jobs nationwide and generate more than 50 percent of the Nation's gross domestic product, and the employees who work in small businesses, deserve our thanks. We salute them." GEORGE W. BUSH

Imagine all those tech workers from WorldCom-MCI pouring forth with those other tech experts from Silicon Valley's tech bubble bust and the thousands of employees from Enron and Tyco and Global Crossing and Adelphia cable. These are some smart people with some valuable skills who will be looking for a way to feed their families.

Some will end up flipping burgers and welcoming shoppers to Wal-Mart, but I predict that hundreds of thousands of highly skilled and intelligent people will be looking at the possibility of bringing their big ideas to market.

Together, small businesses account for 47 percent of all US sales. By 2002, the SBA predicts, a full 85 percent of these will conduct all or part of their business over the Web.

Do you think there is any potential for growth online? Smart entrepreneurs might look to ways to fill the need for start-ups and provide small business resources.

So what if fewer are wandering the halls of giant mega-corporations waiting for the next corporate terrorists to strike their industry? I'll bet that venture capital sees a resurgence and growth like never seen before and angel investors find new ideas worth funding coming from WorldCom-MCI and Enron and Tyco and Global Crossing and ImClone and Adelphia Cable. Disgruntled workers armed with great ideas, technical expertise and ready to topple their former employers with competitive ideas.

The clueless or unethical CEO's, CFO's and CIO's had better watch out for those whose future they destroyed. They'll be back armed with ideas and a burning desire to succeed as competitors to their former employers.