Ullico's ties to Global Crossing were forged by a former Democratic National Committee official, Michael Steed, who had gone on to be director of investments for Ullico in the early 1990s. Mr. Steed had led Ullico investment in several private-capital deals including a Los Angeles real-estate partnership that involved, among others, Gary Winnick, the California-based financier who would later launch Global Crossing. When Mr. Winnick was looking for investors in Global Crossing in early 1997 he approached Mr. Steed. By that point, Mr. Steed had introduced Mr. Winnick to his friend from his days at the Democratic National Committee, Terry McAuliffe. Lookie here:
From a Value America press release:
The company [Value America] appointed a special committee including FDX Chairman Frederick Smith, William Savoy, head of Paul Allen's Vulcan Ventures, Thomas Casey, vice-chairman of Global Crossing, and Michael Steed, managing director of Pacific Capital Group, to find new strategic opportunities for Value America.
And does anyone remember Pacific Capital Group???
From ITU website:
ITU was formed in January 2000 by Adam Winnick, Chad Brownstein and Jonah Schnel (Co-Founders, Managing Partners). The Company closed its first round of financing in April 2000. The $6.6 million Series A financing was led by PCG Ventures. PCG Ventures is the venture capital arm of Pacific Capital Group, the Beverly Hills-based merchant bank that established Global Crossing
Geeez! I just felt a couple of cockroaches scurrying across my legs!!!!
Wait a minute, they're all over me!!!
) or descending (
). 
- Amended Filing
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