For complete text of chronicle, see: http://www.wednesday-night.com/Wed1202.asp normal that Bernard Ebbers, former C.E.O. of WorldCom, be a topic, not so much because of the magnitude (eleven billion dollars) of the fraud, nor of the adverse effect on employees, pensioners and shareholders alike, but because of the exceptionally pertinent case study that it represents. While it is the Chief Executive Officer who takes the lumps for fraud and/or mismanagement, what is the role of board members? Is their presence meant to represent a cheering section for management, is it to support the corporate structure and action, or is it to ensure the honesty, integrity and profitability of the enterprise? The WorldCom situation is, unfortunately, far from unique. The incestuous nature of board members may colour their view of reality. It appears that it is this process that needs to be rethought and reorganized. Ebbers faces up to three quarters of a century or more in prison. While we agree with the gravity of his actions, we question the role of imprisonment, especially in this instance. If it is retribution, it represents an enormous expenditure of public money without attaining that aim; if it is punishment for his crime, would it not be better for the public to save the cost of retribution and profit financially by stripping him of every penny and all possessions that he has accumulated, thus forcing him to live among us in shame and poverty? Bush's international outreach Has democracy become the latest world religion, with its Mecca in Washington, D.C.? Is its army of salvation (not to be confused with an established religious organization with a similar title) prepared to march throughout the world to proselytize? The prospect of Paul Wolfowitz presiding over the World Bank sends chills up the spine of some Wednesday Nighters, while others feel that he will be an agent of the Republicrats in propagating peaceful democracy throughout the planet. For the confused among us (and we are many!) WN suggests a careful reading of http://www.economist.com/agenda/displayStory.cfm?story_id=3763922ssue will ultimately have to be faced if we wish to avoid returning to medieval methods of water distribution, waste and sewage disposal and public transportation. Until Canada fully recognizes a distinct municipal level of government, our cities will continue to be underfunded. Montreal public transit suffers immensely from this dependence on provincial "charity" and receives no contributions towards operating costs. REPORT ON THE ECONOMY http://www.wednesday-night.com/Jacques-Report.asp#1202