Terry McAuliffe is Money in the Bank

Worth Magazine ^ | 01/28/02 | Richard Blow

[Pete53]

When the stock subsequently soared, McAuliffe made a reported $18 million from that $100,000 investment

He did better than cattlegate Hillary.

[GRRRRR]

Chinese Gorilla=Cling Clong? BUMP!

[what's up]

And wasn't the guy who now heads the GAO (who's after Cheney) once head of Anderson? (Put into the GAO by the Slickmeister in 1998). I'm starting to believe that Anderson is the culprit here, not so much Enron.

[ShorelineMike]

Anybody know how to bookmark now? I can't seem to find it again.

There's a "Bookmark Article" link between the bottom of the actual article and Reply #1.

[GRRRRR]

Looks like DRUDGE and Hannity have gotten the word! Good Job FREEPLES!...Keep on EMAILING that story to every paper you can! DEMAND THEY INVESTIGATE!!!!

Take no PRISONERS...err..."DETAINEES"...

GRRRRRRRollin'

[RedWing9]

Evening BUMP!

[harpu]

Hutchison Whampoa Shares Climb on Global Crossing Takeover Plan
By Thomas Lau

Hong Kong, Jan. 29 (Bloomberg) -- Shares in Hutchison Whampoa Ltd. rose as some investors said Chairman Li Ka-shing's bid for Global Crossing Ltd., a fiber-optic network operator that filed for bankruptcy, may win him an asset that fits the company's business at a reasonable price.

Hutchison and state-owned Singapore Technologies Telemedia Ltd. plan to invest $750 million for a majority stake, the companies said in a statement. Global Crossing's equity investors' holdings will be wiped out under the plan, which must be approved by August.

Hutchison will get a business that compliments its investments in mobile phone and Internet businesses around the world. Gains in the stock may be limited as it's not clear how much of Global Crossing's $12 billion in debt the new owners will have to repay and Hutchison needs cash to build high-speed wireless Internet networks across Europe.

``It's another example of how Hutchison is able to bottom- fish,'' said Pieter van Putten, managing director of Commerzbank Asset Management Asia Ltd., which manages $500 million in Asia outside Japan including Hutchison stock. ``This makes their telecommunications business more of a truly global network.''

Li's recent investments in the U.S. have been profitable. In February, Hutchison started to buy stakes in the loss-making online auctioneer Priceline.com Inc. Ever since, its stock price has surged from $2.6 to yesterday's close of $6.3.

Balance Sheet

Hutchison stock rose as much as 0.3 percent to HK$72.25. Hutchison shares fell 23 percent last year on concern about the financing of so-called Third Generation mobile phone networks it plans to build in the U.K., Italy and Sweden. The stock was unchanged at HK$72 yesterday.

``In terms of the balance sheet the impact is not that great,'' said K. Y. Ng, the director of conglomerate research at Nomura International (Hong Kong) Ltd. ``Obviously the concern is that they are getting deeper and deeper into 3G. I would have liked them to focus on that.''

The news also came after Reach Ltd., equally owned by Pacific Century CyberWorks Ltd. and Telstra Corp., said last month it will purchase undersea cable and transmission capacity in Asia from Level 3 Communications Inc. to expand in Japan, Taiwan and Korea.

Global Crossing's bankruptcy filing, listing assets of $22.4 billion, is the fourth-largest Chapter 11 case in U.S. history, behind Enron Corp., Texaco Inc. and Financial Corp. of America, according to Boston-based BankruptcyData.com. Global Crossing showed $12.4 billion in debts in documents filed today in U.S. bankruptcy Court in Manhattan.

Global Crossing said the business will operate as usual and employees will be paid. The investments from Hutchison and Singapore Technologies depend on bankruptcy court approval of the plan by the end of August, the companies said.

The Hamilton, Bermuda-based company, founded by former Drexel Burnham Lambert executive Gary Winnick in 1997, has been hurt by overcapacity, rising debt and two straight quarters of slowing sales. Winnick, whose shares were worth $4.5 billion at the peak, failed to get business as phone and Internet customers such as 360networks Inc. cut spending or folded.

Global Crossing shares were halted. They fell 23 cents, or 45 percent, to 28 cents in trading before U.S. markets opened, Instinet reported. They've fallen 99 percent in the past year.

Hutchison Whampoa is the biggest Asian investor in wireless telecommunications in Europe. It holds permits to offer wireless services in the U.K., Italy and other countries. Hutchison Whampoa also owns half of a Hong Kong phone venture with Asia Global Crossing Ltd., which is majority owned by Global Crossing.

ST Telemedia Ltd. is controlled by the Singapore government. It holds shares in Starhub's Pte., the second-largest phone company in the country.

``Hutchison has an astute management, with a savvy ability to buy assets at reasonable prices,'' said Michael Haight, a fund manager at CIBC Oppenheimer in Boston that owns Hutchison shares. ``This seems to complement their global telecommunications strategy well.''

[anymouse]

A two-fer - x42 downside legacy and Enron-DNC scandal.

Do that voodoo that you do so well. :)

[anymouse]

Thanks. Wow! Always knew McAuliffe was scum.

[sneakypete]

Nobody is going to get anywhere going after McAuliffe. He controls the purse strings for the DNC,and anybody who crosses him doesn't get any campaign financing. There is no way in hell the RealDims are going to let him go down. The DimReps will curl up into a whimpering ball like they normally do once the RealDims start their attacks.

BTW,let's not forget that he is controlling that money for Bubba-1 and Buh-Bette!,and they still have the missing FBI files. McAuliffe is bullet-proof.

[Mudboy Slim]

DYE-NO-MITE!!!

Awesome threads, dude!! T-Mac the Pimpin' Punk!!

LOL and FReegards...MUD

[Mudboy Slim]

"Nobody is going to get anywhere going after McAuliffe."

Nonsense, my FRiend...T-Mac's the DemonRATS' gaping, festering wound, just waiting to be taken down to begin the process of unraveling the RATS' rampant Campaign Finance Abuse!! If the Pubbies don't go after McAuliffe for his crimes it'll be the GOP that implodes as all folks who are paying attention would be forced to come to the realization that there is indeed only one Party in DeeCee, the Party of Effete Elite Corruption!!

My prediction is that the GOP will have NO CHOICE but to hold McAuliffe accountable for his corruption, because if they don't, they'll be held accountable at the ballot box!!

FReegards...MUD

[abner]

Mr. Cook gives mostly to pubbies. Have a look at Open Secrets Go to the donor lookup page

Mr. Cook is a big donor from way back. He seems to go where the favors are though.

[sneakypete]

!! If the Pubbies don't go after McAuliffe for his crimes it'll be the GOP that implodes as all folks who are paying attention would be forced to come to the realization that there is indeed only one Party in DeeCee, the Party of Effete Elite Corruption!!

Mud,it seems you havn't been paying attention. Bubba Bush has already signed a XO sealing all evidence of voter fraud and pardon selling. The GOP is already imploding,but Bubba-2 and the RNC seem to think they can more than make up for the votes they lost with the new votes they get from the illegal aliens they make "instant citizens". My prediction is that the GOP will have NO CHOICE but to hold McAuliffe accountable for his corruption, because if they don't, they'll be held accountable at the ballot box!!

I guess time will tell,but I doubt it.

[GOPJ]

Why do I think there's more to this story and that the media won't see it?

If the information was put on a silver platter and handed to Big Media, they wouldn't see it. Thanks CBS, NBC, and ABC. You've brought new meaning to the concept of double standard.

[Alamo-Girl]

Thanks for the heads up!!!

[dixie sass]

Here you go!!!

[Mudboy Slim]

"...it seems you havn't been paying attention."

LOL...believe me, I've been paying attention, my FRiend.

"The GOP is already imploding..."

Based on what? The GOP prepared to make major off-year election gains in November, but only if they go fer the jugular and hold the DemonRATS--especially Terry McAuliffe and his ButtBuddy, Slick Willie--accountable for their rampant corruption. This is no time for the Right to get wobbly-kneed...or for us to start slitting our own throats with needless in-fighting!! The RATS are still the Vile HateAmericaFirsters.

"Bubba-2 and the RNC seem to think they can more than make up for the votes they lost with the new votes they get from the illegal aliens they make "instant citizens"."

"Bubba-2"?! SHEEESH, buddy, Slick and Dubyuh are like Night and Day, and there is NO WAY Dubyuh'll ever sign legislation giving Illegal Aliens amnesty...that's just Leftist Political Bilge created to piss off folks like you and me.

Yer Right, though, when you say "we'll see," but I am far from giving up on Dubyuh just yet...I strongly urge that we Stay the Course AT LEAST thru the Fall. If we keep the criticism of Bush "constructive," I remain convinced that he'll prove to be a lot more conservative than most folks give him credit for.

FReegards...MUD

[sneakypete]

Based on what?

Nothing solid,just what I am sensing from reading the posts on FR. I see more and more people get disgusted with him every day,and saying they won't vote for him in 2004.

but only if they go fer the jugular and hold the DemonRATS--especially Terry McAuliffe and his ButtBuddy, Slick Willie--accountable for their rampant corruption.

We are in full agreement on this,but they ain't gonna do it.

"Bubba-2"?! SHEEESH, buddy, Slick and Dubyuh are like Night and Day,

Really? What about the executive orders barring investigations into vote and pardon buying? This is just ONE example.

and there is NO WAY Dubyuh'll ever sign legislation giving Illegal Aliens amnesty...that's just Leftist Political Bilge created to piss off folks like you and me.

No,this is what Bubba Bush himself has said,and President Fox has stated that he and Bush were working on this "problem". In fact,they were getting ready to make it a done-deal with Sept 11th happened.

but I am far from giving up on Dubyuh just yet...I strongly urge that we Stay the Course AT LEAST thru the Fall.

I will NOT vote for Giddy Dole!

If we keep the criticism of Bush "constructive," I remain convinced that he'll prove to be a lot more conservative than most folks give him credit for.

Nothing would please me more than to be proven wrong about this. Well,there IS that little dream about the Swedish Bikini Team,but other than that.