Of course, the bankruptcy judges may yet reject Capellas' excessive pay plan, but the incoming WorldCom chief has already made one thing clear: No amount of money could justify a move from Virginia to the land of Trent Lott. (Mr. Lott, by the way, is Headcount's nominee for made-up position of Senate Majority Bigot.)
Before Capellas, New Jersey's John Sidgmore also opted to run the company remotely during his short stint as WorldCom's CEO (see Sidgmore Takes Control at WorldCom).
With so many not wanting to head south, Headcount wonders if Mississippi will change its state motto from "Virtute et armis" (By valor and arms) to "Warm Weather and Cold Shoulders All Around"?
While you ponder such lunacy, we'll review some of the past week's most interesting hirings and firings:
Headcount hasn't been able to reach Corona executives. We did, however, get a call from Corona's administrative assistant and receptionist, Patti, who refused to patch us through to CEO Ramandeep Singh or Michael Damena, the company's senior director of business development and marketing.
"I just think you're a terrible company and I think you shouldn't be on the Internet," Patti says. "I'm not going to transfer your calls... there is nothing by law that says I have to give you any information about this company for your Internet rag sheet."
Headcount wonders if venture capitalists have had as tough a time getting past Checkpoint Patti as we did.
In an interesting twist, an informed source says Advent and Tallwood turned right around and formed AdTall Corp. using C Speed's assets and intellectual property. It's not clear how many C Speed folks were hired back, but it is clear that C Speed's backers have found a slick way to dodge the startup's debt obligations.
C Speed peaked at 68 workers in March and had dwindled to about 12 people at the beginning of the holidays, according to one former C Speed executive.
Babic says there were only six people employed at Alvesta at the time of the sale. "We were shutting down," he says. Alvesta was backed by Intel Corp. (Nasdaq: INTC) and Cypress Semiconductor Corp. (NYSE: CY), among others.
How many will it have once the staff in China doubles? Luminous won't say.
"The company is at a point in terms of product development that it has the flexibility to make reductions in certain areas and redeploy resources in other areas," says John Hamburger (no relation to you know who), who previously served as Luminous' director of marketing communications but now works as a part-time consultant to the company.
Here's a summary of other industry appointments (and disappointments) from the past several days:
While Headcount will not take itself off the Internet (as so desired by Corona's Patti), we do acknowledge the need for a vacation. Wonder what Mississippi is like this time of year?
— Phil Harvey and Marguerite Reardon, Senior Editors, Light Reading