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In Another Big Bankruptcy, a Fiber Optic Venture Fails
http://www.nytimes.com ^
| January 29, 2002
| By SIMON ROMERO
Posted on 01/29/2002 6:10:42 AM PST by BallandPowder
click here to read article
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Powder..Patch..Ball FIRE!!!
More good information on this fiasco!!!
To: BallandPowder
How much Saudi money is being manipulated in some of these companies?
To: BallandPowder
"
The company had attracted many notable business and political figures as investors, including Terry McAuliffe, chairman of the Democratic National Committee, who profited by selling Global Crossing stock before it declined. Another early investor was former President George Bush, who accepted stock in lieu of an $80,000 fee for speaking to Global Crossing customers in Tokyo in 1999, although it is not known whether Mr. Bush sold his stock. Other investors included the Tisch family of New York and Lodwrick Cook, the retired chairman of ARCO and a big Republican Party fund-raiser."Nice balance in reporting by the Clymers....
3
posted on
01/29/2002 6:17:46 AM PST
by
eureka!
To: BallandPowder
I've been a conservative and republican most of my life, however, when companies can just "shut out" and screw stockholders like this and stay in business letting others buy-in and reap the benefits of any asets that are left, well there is something bad wrong with the system. Maybe there is much more to hide in the system on Wall Street - like continuing under the table/insider trading, like forcing companies to lie about their true earnings just to stay in good favor, like continuing to let in others from countries who will accept lower high tech wages while many high techers are out of work....
4
posted on
01/29/2002 6:21:20 AM PST
by
ldish
To: BallandPowder
Terry McAuliffe, Terry McAuliffe,.....
Oh yeah. He's the guy that heads up the Party that represents the common citizen, the little guy, the average Joe.
The kind of people that can invest $100,000 and get a return of $18 Million.
Just like me and you.
5
posted on
01/29/2002 6:30:50 AM PST
by
Artie_Kay
To: eureka!
I notice that the score is Republicans mentioned as such 2, DemonRATs mentioned as such 1 (the Tisch family's party affiliation is conveniently not mentioned), and they decided to not mention that Global Crossing recently financed a D'Asshole fundraiser and bankrolled Henry (Nostrilitis) Waxman's last run for his seat in Congress.
Now where did I hear Hutchison Whampoa before? Could it have been in 1996, bankrolling Klintoon's purchase of 4 more years in the Oval Orifice? If I had to depend on the New York Slimes for my news, I wouldn't know.
6
posted on
01/29/2002 6:44:50 AM PST
by
steveegg
To: ldish
It's simple, just THROW THE BOOK AT THEM to make an example of 'em. Just like the Junk Bond Insiders of the 80's. Bush better see to it, if he doesn't, the DIMoCRITES will never stop yapping.
To: steveegg
"
Now where did I hear Hutchison Whampoa before? Could it have been in 1996, bankrolling Klintoon's purchase of 4 more years in the Oval Orifice? If I had to depend on the New York Slimes for my news, I wouldn't know."If you depended on these pressholes, you would be over at DU. As for Hutchison Whampoa, yes, methinks it has a bigger play than is currently known....
8
posted on
01/29/2002 7:28:00 AM PST
by
eureka!
To: eureka!; steveegg
To: Lion's Cub
Re#9 Thanks for the link...
10
posted on
01/29/2002 7:43:07 AM PST
by
eureka!
To: BallandPowder;eureka!;Artie_Kay;steveegg;Lion's Cub
To: BallandPowder
Based for tax reasons in Bermuda but managed from luxurious offices in Beverly HillsTaxes on what, not profits?
To: Stand Watch Listen
Bump for the facts....
13
posted on
01/29/2002 8:06:56 AM PST
by
eureka!
To: Lion's Cub; Fred Mertz; aristeides; Eureka!
Hutchison Whampoa and Li Ka-Shing (IOW Red China), who now control BOTH ends of the Panama Canal, may now also have a huge piece of infrastructure that will control internet access for much of the world. A bigger plan than is currently known indeed!
Let's see, we have X42imp turning over our military secrets to the Chicoms and now we have X42imp's main man making a fortune as this hugely strategic infrastructure will probably fall into ... Chicom hands. Anybody see a pattern here?
I hear a lot about naughty Terry McA doing the Enron thingie with Global Crossing, but I ain't hearing much about the national security issue. It reminds me of when the Clintons were first in office and they immediately began dismantling the security system in the White House. Even the good FBI man who alerted us to the danger to nat'l sec from that was naive enough to think that it was just because the goons were protecting their little druggie staffers. IOW just incompetents screwing up. IMO that was a PLAN and so is this. And the Chicoms are NOT implementing it on their own. IMO.
14
posted on
01/29/2002 8:17:20 AM PST
by
Sal
To: Sal; tallhappy; Severnside; Hopalong; quidam
Re#4 Yes, Sal, the Chinese have some long term plans and are a very patient people. Aside from Panama, they are building their own navy and setting up big time in other shipping lanes. They are not planning for our benefit...
15
posted on
01/29/2002 8:23:24 AM PST
by
eureka!
To: Sal, Eureka!,All
Two Asian companies, Hutchison Whampoa Ltd. (news/quote) of Hong Kong and Singapore Technologies Telemedia Ltd., said they would together pay $750 million for a controlling stake in Global Crossing as part of the filing.One potential problem with a takeover by foreign entities is resistance from regulators because the company counts among its customers several government institutions, like the Navy. Other customers include American Express (news/quote) and Microsoft (news/quote) and large carriers like Deutsche Telekom (news/quote).
Aside from which political party is MORE culpable (really getting old..they're both crooks..face it), think of the ramifications of the transfer of this technolgy...to the chi-com no less. A GLOBAL FIBER OPTIC NETWORK!
The ramifications are endless, but in summary entails..TADA! COMPLETE CONTROL OF GLOBAL INFORMATION! To reiterate, "..the company counts among its customers several government institutions, like the Navy. Other customers include American Express (news/quote) and Microsoft (news/quote) and large carriers like Deutsche Telekom."
Regardless of the failings of this company to generate revenues, THIS IS AN EXTREMELY VIABLE TECHNOLOGY! Whomever controls this network controls the people. Police and militaries from around the world (including/especially our own) would love to have this global portal at the tips of their fingers. With the technologies which exist today and are being widely propagated around our country, I garuantee that sensors and camera's everywhere will be uploaded to these fiber optic networks creating a police state only previously dreamed of.
Don't be suprised when this bankrupcy/bailout disappears from all U.S. headlines. The last thing our politicians and media seems to want us to know is how every aspect of our lives will soon be watched, monitored, fined, and possibly apprehended by a global power, and it won't be by the US government. This global info system, and those like it, will be the backbone of our Brave New World. But no matter. The elite do need to recoop their investment, even if it means selling out our privacy, our national soveriegnty, and our way of life. Freedom no more. Think about it.
16
posted on
01/29/2002 8:45:40 AM PST
by
Sequitur
To: Lion's Cub
'Tis an interesting read.
17
posted on
01/29/2002 9:52:57 AM PST
by
steveegg
To: BallandPowder; sal
Global Crossing's bankruptcy is expected to reverberate within the telecommunications industry, with large companies like SBC Communications (news/quote), Verizon Communications (news/quote) and Cisco Systems (news/quote) listed among large creditors. Didn't William Daley recently become president of SBC?
To: Stand Watch Listen
Interesting how the AP conveniently left out the political connections of Global Crossing (also interesting how it appeared after 2 Enron slams in the business section, 1 purported pre-State-of-the-Union story that is really a Bush/Enron slam, 2 Enron/Bush-slamming editorial cartoons, and Maureen Dowd's Enron/Bush-slamming column in the front secton of my local fishwrap).
19
posted on
01/29/2002 9:55:45 AM PST
by
steveegg
And as it turns out, the labeling of Lodwrick Cook by the Slimes as a big Pubbie donator is not exactly correct. While he has donated a lot to the Republicans over the course of his life, the more-recent donations have been to Clinton (click
here for details).
If the Slimes were interested in accuracy in reporting instead of promoting a Hitlery candidacy in 2004/2008, the scorecard would be 2 RATs, 1 Pubbie, 1 opportunistic bastich with VERY close ties to the Clinton machine.
20
posted on
01/29/2002 10:05:36 AM PST
by
steveegg
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