[Liz]

.....to get out of his jam it appears that GX got really desperate. Enron-like, the company concocted fake revenues to appease the Street. GX swapped parts of its network capacity with other carriers like Qwest and EPIK Communications. Each reported revenue immediately and wrote off the new expenses over 25 years. These transactions were cashless, with no economic value. Their accountants would never agree to that, would they? Arthur Andersen gave its blessing. Did Mr. Winnick order this, or was it his revolving door CEOs? Who knows, who cares? He ran the company and he's going down with the ship to where his cables lie on the ocean floor........

Aha. The criminal pump and dump stock scheme anointed by acct's Andersen even.
Except it looks like Winnick was pumped, and now he's gonna get dumped. LOL

[d14truth]

A nice piece. Spreads out most of the 'cans' for all those who would open them to find the 'worms'.

[Grampa Dave]

Which senator's wife is this babe? Is it Dodd's wife?:

In 1999, Mr. Winnick hired an ex-Justice Department antitrust biggie and wife of a senator, Anne Bingaman, and paid $2.5 million over six months to do anti-antitrust work to lobby away competition.