Federal Officials Probe Stock Offer To Union Chiefs by Global Crossing ~ WSJ.

The Wall Street Journal. | March 18, 2002 | Staff Reporters of THE WALL STREET JOURNAL

[Bayou City]

If you click on page two you'll see a name "Richard Gerhardt"...Kinda makes me wonder if it should read "Richard Gephardt" instead.

[Liz]

Nice find.........

[aShepard]

Nice catch on terrible Terry. Hope he lost money.

The stock at IPO went off at $23.00, and in the fourth quarter of '99 was tanking, so he probably got out at about $6.00.

Last trade was yesterday at $.001

[Elle Bee]

Nice catch on terrible Terry. Hope he lost money.

Not a chance

Terry $ the Pirates turned 100K into $18 Million ... they used the union pension fund for a classic 'Pump & Dump'

.

[aristeides]

the union pension fund's got mugged

That sounds to me like a breach of fiduciary duty under ERISA, the federal pension law. A class action suit on behalf of the participants in the pension plans to make the union officers disgorge their gains sounds like a very promising suit to me. Are there any enterprising ERISA lawyers out there?

And what about a RICO suit? RICO civil suits offer treble damages, in addition to legal costs! That's juicy!

[Bayou City]

Bump!

[Jack Black]

Another area badly needing reforms are IPOs. IPOs are designed to generate capaital for a business. However in the dot com boom they generated millions for the early investors, traders, insiders and investment banks. If an IPO stock is offered at 18 and goes to 60 in one or two days the company that floated the stock lost big time. They only got the $18, while insider investors get the $42. from the run up.

We should not even go into so called "friends and family" shares that are given out like candy just prior to the IPOs. All of this should be looked into closely.

[Libloather]

Details of the grand jury inquiry weren't available Thursday.

Five-month-old news. Maybe next time they could specify WHICH Thursday - eh? Gotta bump this one...