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Global Crossing insiders sell $278 million in shares
News.com ^ | May 25, 2000 | Bloomberg News

Posted on 02/05/2002 10:27:34 AM PST by d14truth

Global Crossing insiders sell $278 million in shares

"Directors and managers of the telecommunications-network operator who sold from April 10 to April 13 included chairman Gary Winnick; Barry Porter, senior vice president of corporate development; and president David Lee, according to the Washington Service, which tracks insider trading. The shares, including some sold to exercise options, fetched $31 to $33.20 each. Winnick sold stock valued at $149 million.
...*****...
The company is suing Tyco International, once its main fiber-optic cable supplier, accusing the company of stealing trade secrets."


TOPICS: Announcements; Extended News; News/Current Events
KEYWORDS: globalcrossing; hughhewitt
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To: sarcasm;Grampa Dave;Brian Mosely;Dog
Clarity Partners, LLP

At least Lee and Porter reinvested their Global (Double) Crossing proceeds, or is this another one of those 'homes' requiring no money down?

Some good connecting links here.

21 posted on 02/05/2002 1:49:38 PM PST by d14truth
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To: Roger_W_Isom;Liz;kellynla
Lee and Porter fyi
22 posted on 02/05/2002 1:53:02 PM PST by d14truth
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To: Hobey Baker
Global Crossing practices were probably different than Enron's---doubt if they were any 'cleaner'.
23 posted on 02/05/2002 2:02:35 PM PST by d14truth
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To: afz400
So what is Bill Gates's "great crime"?

(Java partisans need not reply...)

24 posted on 02/05/2002 2:05:51 PM PST by Mr. Jeeves
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To: The Wizard
Speaking of Daschle and 'economic stimulus'
25 posted on 02/05/2002 2:06:32 PM PST by d14truth
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To: kristinn
The DC Chapter 'up in arms' over Global (Double) Crossing.
26 posted on 02/05/2002 2:59:19 PM PST by d14truth
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To: d14truth
GAO and Congress trying to put the 'spotlight' somewhere it doesn't shine on them.

This is the truth and should be the rallying cry of FR! Congress and scores of federal agencies and programs are exponentially more corrupted & inept than Enron or GX could ever hope to be. There is over a trillion dollars that cannot be accounted for out of the federal government! Congress has not done it's responsibility to oversee these programs and agencies -- only bicker about whether they should get 4% or 6% more to squander! Congress should be subpoening the directors and managers of every federal agency and putting their feet to the fire.

27 posted on 02/05/2002 8:57:03 PM PST by monkeyshine
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To: monkeyshine
Repeat boldly--

"This is the truth and should be the rallying cry of FR! Congress and scores of federal agencies and programs are exponentially more corrupted & inept than Enron or GX could ever hope to be. There is over a trillion dollars that cannot be accounted for out of the federal government! Congress has not done it's responsibility to oversee these programs and agencies -- only bicker about whether they should get 4% or 6% more to squander! Congress should be subpoening the directors and managers of every federal agency and putting their feet to the fire."

28 posted on 02/06/2002 6:02:01 AM PST by d14truth
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To: d14truth
This is a good start about where David Lee comes from and his genetic background:

Mr. Lee was Group Vice President of Finance and Acquisitions at TRW Information Systems Group. He has also held various executive positions at Comsat, the satellite communications company, and practiced public accountancy at Arthur Andersen & Co."

Looking back at those I knew who were hired by AA and stayed with until they did went else where with their black magic like David Lee and what Freepers have posted about AAers. It appears that these people are true DemonicRats re their DNA. They have a shortage of the truth gene and an excess of the lying gene!

Great Work d14truth. You are all over this like a world class bird dog!

29 posted on 02/06/2002 6:03:37 AM PST by Grampa Dave
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To: d14truth
Enron is a 'chump change' diversion

Global Crossing is run by big Dem donors. Thanks to Jumpin Jeffords, the Dems chair the committees, and they have decided to go after Enron (with a helpful media) and forget about Global Crossing.

30 posted on 02/06/2002 6:06:55 AM PST by 1Old Pro
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To: monkeyshine
""This is the truth and should be the rallying cry of FR! Congress and scores of federal agencies and programs are exponentially more corrupted & inept than Enron or GX could ever hope to be. There is over a trillion dollars that cannot be accounted for out of the federal government! Congress has not done it's responsibility to oversee these programs and agencies -- only bicker about whether they should get 4% or 6% more to squander! Congress should be subpoening the directors and managers of every federal agency and putting their feet to the fire.""

SERIOUS BIG TIME BUMP!!!!
31 posted on 02/06/2002 6:09:00 AM PST by 1 FELLOW FREEPER
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To: d14truth; all
This is off Drudge's home page at this moment. There are no specifics yet. If this is true re the 1.3 billion $'s re Global Crossing, insider trading as they churn/cook the books, this makes Enron and Ken Lay look like pikers.

How much did the DemonicRat execs of GC donate to Goron's campaign during this 3 years and other demonicRats!

WSJ: Global Crossing insiders sold $1.3 billion in company stock in the three years prior to the telecom firm's bankruptcy filing. Developing...

We need to stay on this story to see if it is true re the 1.3 Billion $'s of insider selling. How many demonicRat senators/congressits and party top rats shared in this activity?

32 posted on 02/06/2002 6:12:02 AM PST by Grampa Dave
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To: d14truth
For anyone who has ever received stock options, they will know that when you exercise options, you typically want to sell immediately (something many dot commers did not do, for which they paid dearly). Plus, in the glory days of high GX share price, you did not need to be an insider to know that the stock was over-priced.
33 posted on 02/06/2002 6:16:11 AM PST by mcjordansc
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To: d14truth
bump
34 posted on 02/06/2002 6:19:07 AM PST by VOA
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To: mcjordansc
Here is an example of an IBM director's inside selling: http://biz.yahoo.com/t/95/5326.html A cool $34-million in one month.
35 posted on 02/06/2002 6:24:23 AM PST by mcjordansc
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To: mcjordansc
Sorry, try this:

IBM Insider

36 posted on 02/06/2002 6:26:04 AM PST by mcjordansc
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To: kellynla
Hmmm, how much capital gains tax is paid on a $17,900,000 gain? Wonder if anyone has filed an FOIA form to gather that information? Just wondering!!!!!
37 posted on 02/06/2002 6:28:28 AM PST by eeriegeno
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To: d14truth; all
This is an interesting story that shows that AA was totally out in left field re audits of Enron.

This thread is from all places, surprise, the NY Slimes: (More Enron Data and how AA is incapable on an honest audit)

38 posted on 02/06/2002 6:30:24 AM PST by Grampa Dave
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To: Grampa Dave
"Great Work d14truth. You are all over this like a world class bird dog!"

Yes, and you, too. Now, we need help from some others to 'pluck 'em, skin 'em, cook 'em, and serve 'em up hot'. {;~)

39 posted on 02/06/2002 6:39:30 AM PST by d14truth
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To: mcjordansc
Thank you.
40 posted on 02/06/2002 10:30:59 AM PST by d14truth
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