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MCI well on way to emerging from bankruptcy

MCI chief executive officer Michael Cappellas said his company is well on its way to emerging from bankruptcy, and offered a...

MCI chief executive officer Michael Cappellas said his company is well on its way to emerging from bankruptcy,...

and offered a glimpse of future plans.

During a keynote speech at the Gartner Symposium/ITxpo in Orlando, Cappellas said the company has 99% of the vote on its bankruptcy plan. MCI will have a hearing on 30 October, and a ruling is expected sometime after.

"There's no question that regaining public trust is our top priority," said Cappellas. "Do I think about that? You bet."

Gartner research director Eric Paulek said that as MCI gets back on its feet, some competitors are claiming that MCI will be in a position to undercut pricing as a result of the bankruptcy.

"We will compete, but we're not the ones [starting] the price war now," Cappellas said.

When asked his opinion on the recovery of the general economy, Cappellas said that one of the fascinating parts of his career is that he has gained a good grasp on what will happen at any given time during the next six months, and a reasonably clear picture of how things will be in five years.

"It's the time between that is a dark period," he added.

However, Cappellas said he believed wireless, voice recognition, and peer-to-peer will spawn growth in the telecom sector.

He explained that MCI's immediate plans consist of expanding its broadband coverage, investing in product development and internal IT.

"What is in the past is in the past, and we'll leave it in the past," he said.

Tom Sullivan writes for InfoWorld

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