Posted on 01/30/2002 11:13:29 PM PST by kattracks
Edited on 07/12/2004 3:50:50 PM PDT by Jim Robinson. [history]
Congressional investigators refused to comment yesterday on why the Pentagon yanked a $400 million contract from Global Crossing, a telecommunications firm that declared bankruptcy this week, stranding its shareholders and employees in much the way the Enron collapse did.
The Defense Department canceled the contract in August, a month after it was awarded, after losing bidders filed protests.
(Excerpt) Read more at washtimes.com ...
Possibly the Hutchinson Whampoa connection? Fiber is tough to listen in on, unless you stick in the wiretap devices when it is installed.
Use this simple formula:
np = v
where
n = number of shares purchsed
p = price per share
v = investment value
DNC Terry invested $100,000 so
np = $100,000
The stock split in 99 so DNC Terrys shares doubled (2n). He sold his stock before it reached its peak price of $64. Lets be generous, and assume DNC Terry sold at the peak price:
2n x $64 = $18,000,000
or
128n = $18,000,000
so
n = 140,625 shares
and since
np = $100,000
we calculate
p = .711111111
In English, DNC Terry bought 140,625 shares at .71 cents per share for a stock that was offered to the public at $8 per share. This means DNC Terry had a profit of over a million dollars when the stock opened. But according to DNC Terry, he bought and sold stock just like everybody else does.
President Clinton's pick for the GAO boss was a Big wheel at Arthur Andersen and people wonder what happened to the budget surplus!
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