Posted on 02/09/2002 3:03:05 PM PST by Bayou City
From SEC Edgar on line form S-1/A filed on 07/23/1998
Page 53
BENEFICIAL OWNERSHIP OF COMMON STOCK
MRCo, Inc. (4).................... 16,959,462
111 Massachusetts Avenue NW
Washington, DC 20001
Michael R. Steed(19).............. 16,974,462
Note 19 on Page 54
Includes all shares of Common Stock owned by MRCo, Inc. Mr. Steed is the Senior Vice President of ULLICO and the President of MRCo, Inc., which is a wholly-owned subsidiary of ULLICO. Includes 15,000 shares of Common Stock issuable upon the exercise of options within 60 days of July 13, 1998. Includes 368,353 shares of Common Stock issuable upon the exercise of GCL Warrants.
Now for the connection... Laborers.org
Kheel and McAuliffe Raise Some Money
News reports that labor lawyer Theodore Kheel gave $20,000 in illegal cash to Carey’s 1996 campaign were easy to overlook for those not familiar with who he is or his long role in labor relations. Cornell University has a new facility at its famous Industrial and Labor Relations School and it is named after the generous Kheel. Probably the finest labor relations training institution in the country, the Cornell school was founded by Irving Ives, a respected labor expert and patrician Republican who served on the Senate Labor Rackets Committee with Arkansas Democrat John McClellan. Ives, with then-Senator John F. Kennedy, sponsored the labor reform legislation that became the great investigation’s legacy.
In 1995, Kheel played a major role arranging the sale of the AFL-CIO’s "affinity credit card" from the Bank of New York to Household Finance. The sale brought over $35 million to the AFL-CIO, which gave it the liquidity to pump over $30 million into the Democratic Party’s 1996 congressional campaigns. Kheel brokered the deal with Democratic fundraiser Terry McAuliffe. In 1992, Kheel had convinced the newly elected Carey to endorse the credit card program. Carey delivered 1.5 million Teamsters who previously had not participated in the program. Kheel profited handsomely, from the new Teamsters in the credit card program, and he subsequently contributed the $20,000 to Carey’s 1996 Teamsters reelection bid.
McAuliffe, chairman of a record-breaking Democratic fundraiser in May and chairman of recent Democratic convention in Los Angeles, has long been associated with organized labor. In addition to his work on the Union Privileges "affinity" credit card, McAuliffe has had a major role handling investments for the AFL-CIO Union Labor Life Insurance Company (ULLICO). But while he may be welcome at AFL-CIO headquarters, he is reportedly persona non grata at the International Brotherhood of Electrical Workers (IBEW). McAuliffe-related businesses borrowed millions of dollars in loans over the years from the Electrical Workers Pension Plan for a series of business ventures, many of which he defaulted on. The loans themselves were highly favorable to McAuliffe, and there is evidence that the former Electrical Workers secretary-treasurer who made these loans was himself in business dealings with McAuliffe. Labor rackets investigators have been looking into the underlying transactions, and the trustees of the plan have been sued for their negligence in making these imprudent loans. The transactions scream ‘kickbacks’ to any experienced labor rackets investigator, but the probe remains stalled.
If AG Ashcroft doesn't have AT LEAST a handful of crack DoJ investigators dedicated full-time to trackin' down leads on Terry "The PUNK" McLowlife, he oughtta be run outta town fer Dereliction of Duty!! When Ashcroft called Mary Jo White"Wash" a dedicated servant of Justice, I pegged him as a Clueless DOLT...but maybe he's just Crazy like a Fox and has his sights squarely trained on the Corrupt DNC Chairman and is just keepin' things under the radar.
Time'll tell...but if the Dept. of Justice don't nail McLowlife, FReepers will!!
Great find, BC...MUD
Post #3 explains..."...McAuliffe and father-in-law Richard Swann formed American Capital Management to buy Florida properties that the RTC took over after putting Swann's S&L into receivership. Some of the properties were acquired using union pension money……The IBEW not only financed McAuliffe's ventures, but it also helped boost his stature as a Democratic fund-raiser by contributing $6 million to party candidates from 1991 to 1996... In a letter signed on Mar. 18, 1993, Prudential agreed to pay McAuliffe $375,000 if the Pension Benefit Guaranty Corp. (PBGC) signed a 15-year, $187 million lease to occupy a downtown Washington office building owned by the insurer. The U. S. Attorney for the District of Columbia charged that Prudential falsely certified, after it won the lease, that it had not hired anyone to help influence the bidding process, which is illegal under the Competition in Contracting Act. ….As the Prudential matter drags on, McAuliffe isn't out of the woods yet on the Teamsters case, whose central figure, campaign consultant Martin Davis, is a friend of McAuliffe. Davis has pleaded guilty to masterminding an illegal scheme to raise $1 million for Teamsters President Carey's 1996 reelection. Davis told McAuliffe he could help raise $1 million for the DNC from the Teamsters, but McAuliffe denies he knew any details of how Davis intended to do this. Davis, in his guilty plea, says his plan was to launder Teamsters donations through the DNC in an effort to hide the source of Carey's money..."
T-Mac's as Corrupt as the day is long, my FRiend, and he'll be indicted by year's end...MUD
BTW...you can thank Alamo-Girl fer her awesome background on McLowlife's sordid past.
LOL...ain't it though?! LB, when you catch up to this thread, please bump me up so I can read yer take!!
FReegards...MUD
The stock, which closed yesterday at 7 cents, hit a high of $64.25 in 1999.
Gary Winnick, the founder of the company, realized more than $730 million from selling stock in the company while it was riding high, his S.E.C. filings show.
A spokesman for Mr. Winnick has emphasized that he held onto more than 70 percent of his stake in the company.
Among the shareholders of Global Crossing at one point was former President George Bush, who took an $80,000 speaking fee in stock that at the peak was worth $14 million. It is not known when, or if, he sold his position.
The company has also been criticized for forgiving personal loans made to two of its top executives at a time when a bankruptcy filing was looming.
-snip-
Glad you brought that up Mama... Check it out HERE
Take care!
However, the Sheeple see this reality and increasingly understand...
Slick's Legacy Shall Be the De-Legitimization of the DemonRAT Party, IMHO...MUD
In a letter signed on Mar. 18, 1993, Prudential agreed to pay McAuliffe $375,000 if the Pension Benefit Guaranty Corp. (PBGC) signed a 15-year, $187 million lease to occupy a downtown Washington office building owned by the insurer. The U. S. Attorney for the District of Columbia charged that Prudential falsely certified, after it won the lease, that it had not hired anyone to help influence the bidding process, which is illegal under the Competition in Contracting Act. ….As the Prudential matter drags on...
We've had Prudential life insurance policies on our little family for the last 30 years. As you may know, they recently went public. I didn't think anything about it at the time, but I think I'd better pour over my paperwork with a fine tooth comb. They may be planning to bleed out this company just as they've done so many others. Perhaps there's a way to surrender the policies and still end up with something.
Grampa Dave's becoming a wealthier man by bettin' against those companies whose late-90's profits were dependent upon their ILLEGAL inside connections with the ClintonCorruptionCadre...he might be able to give ya the scoop on Prudential...MUD
"A new undersea fiber-optic cable company named Global Crossing Ltd. went public on August 14, 1998. That morning, at the moment Global Crossing's stock began trading on the Nasdaq, ULLICO Inc.'s $7.6 million private capital investment in the company was worth at least $320 million - a 4,000 percent gain in about a year and a half.
A gain of this magnitude is not hard to understand if you know that Global Crossing is involved in wiring the world to meet the explosive and seemingly limitless demand for Internet, voice, and video services. It also makes sense when you know more about a special program at ULLICO and the skilled investment team that manages it.
The Global Crossing investment is part of a private capital investment program that began quietly in 1992 with several small investments. Since then, ULLICO and its subsidiaries, such as The Union Labor Life Insurance Company and MRCo, Inc., have committed $145 million in a total of 55 alternative investments.
ULLICO's 'opening bell' windfall smacks of 'insider trading' and RICO.
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