You might want to check this out: Quiet Global Crossing Board Member: Former Secretary of Defense, though you probably have...Cohen, Global Crossings, Telergy, McAuliffe...the usual suspects.
Telergy alarming bankruptcy, telling its customers to find another service immediately. Oct. 2001.
Con Ed Sues Telergy for $14 Mil. unpaid bills, Sept. 11, 2001:
Telergy officials declined to comment about the dispute but almost certainly will go to great lengths to protect their New YorkCity franchise. They have long described the New York City asset as the "jewel" of their fiber network throughout the Northeast, because of the large amount of national and international traffic routed through Manhattan.
In January 1998, Telergy and Con Ed agreed to form a jointly owned telecommunications company called Telergy Metro to build and operate a telecom network along routes leased from Con Ed in New York City.
The network, which includes some routes not leased from Con Ed, ties into Telergy's network throughout the Northeast.
About six months later, Con Ed relinquished its ownership stake in Telergy Metro but agreed to continue leasing rights of way to the new company.
A month ago, the company abruptly laid off 150 of its 615 employees and requested more operating capital from its lenders. The company's founders, directors and other senior executives all resigned, and crisis manager James Harris of Seneca Financial Group was appointed to run Telergy. Sept. 11, 2001.
"Democratic National Chairman Terrance M. McAuliffe, who has been trying to tie the Enron debacle to the Bush administration, has two Enrons in his closet. Already under scrutiny for his $18 million profit from Global Crossing Ltd., Mr. McAuliffe was also on the board of directors of Telergy Inc., another telecommunications firm that went belly up last year. Mr. McAuliffe had been a major investor.
Telergy, headquartered in Mr. McAuliffe's hometown of Syracuse, N.Y., filed for Chapter 11 protection Oct. 26 in federal court in Utica, N.Y. Telergy also dumped nearly 300 employees without severance pay. In May 2000, Mr. McAuliffe owned or had warrants to acquire 12,728 shares of Telergy worth $2 million, company officials told the Associated Press at the time. Telergy also paid Mr. McAuliffe more than $1 million for helping to raise equity for the firm. Telergy finally collapsed completely when it entered bankruptcy proceedings under Chapter 7 of the bankruptcy laws on Dec. 21 of last year. This was after unsuccessful efforts to get its financial house in order while it was under Chapter 11 protection from creditors. Under Chapter 7 protection, companies liquidate; under Chapter 11, they reorganize but continue to operate.
In the case of Global Crossing, once the seventh largest corporation in America, the company filed for Chapter 11 protection last month — but not before Mr. McAuliffe had turned a $100,000 investment in the fiber optics firm into an $18 million profit."
"Mother Jones: Terry McAuliffe, The Teflon Kingmaker"
"Is Terry McAuliffe corrupt, as his critics charge, or just especially good at playing the dirty game of politics? A fresh look at Mother Jones' coverage of the new DNC chairman may help you decide.
by Brooke Shelby Biggs Feb. 8, 2001
"Terry McAuliffe, the new chairman of the Democratic National Committee, is to political fundraising what Lee Atwater was to political advertising: successful, ruthless, and daring. Before he'd even moved into his new office, McAuliffe managed to anger both a large chunk of the Democratic party and the Bush White House. ....Black Democrats accused McAuliffe of hijacking the DNC election from Atlanta Mayor Maynard Jackson, considered a shoo-in until McAuliffe threw his hat in the ring in December with endorsements from both Bill Clinton and Al Gore. ....McAuliffe has an uncanny ability to slip out of potential trouble unscathed. The fundraising scandals surrounding Bill Clinton's 1996 campaign -- including the White House coffees and Lincoln bedroom sleepovers, both of which were McAuliffe's ideas -- seemed to roll off McAuliffe's back. After repeatedly claiming that he had nothing to do with the DNC-related soft money scandals, saying he only raised funds specifically earmarked for Clinton's presidential reelection, McAuliffe eventually admitted having raised between $3 million and $5 million for the DNC. Still, he managed largely to dodge the spotlight. Likewise, McAuliffe avoided a potentially career-ending scandal in 1997, when the Department of Justice investigated a number of his real estate and campaign financing deals -- one involving Ron Carey, disgraced former president of the Teamsters who was indicted this week on charges of perjury -- which to GOP observers looked an awful lot like the result of influence peddling. The accusations against McAuliffe in those cases were later dropped."
"Link to Mother Jones' McAuliffe Scandals!!
"Big Game Hunter -- Mother Jones, April 1997"
Fundraiser Terry McAuliffe knew how to bag big donors for President Clinton, but has the stalker now become the prey?
"Links to more Mother Jones' McAuliffe Scandals!!
McAuliffe, Inc. -- Mother Jones, April 1997 The Department of Justice appears to be investigating real estate deals in which Clinton's chief fundraiser may have profited from political connections.
Link
"The Boy Wonder Comes of Age" -- Mother Jones, April 1997
A map of McAuliffe's cash-strewn career path.
Interestin' stuff from the DemonRAT Underground...MUD
"Con Ed sues Telergy for $14M unpaid bill"
Tuesday, September 11, 2001
By Tim Knauss
"Consolidated Edison, an electric utility that leases valuable rights of way to Telergy in New York City, is suing Telergy for roughly $14 million. The lawsuit - which arrives as Telergy, based in DeWitt, seeks a way out of a financial crisis - is the latest salvo in a feud between Con Ed and Telergy that has endured almost since the two companies started doing business together three years ago. Con Ed filed a complaint Aug. 31 in state Supreme Court in Manhattan claiming Telergy has failed to pay for engineering services, equipment and other items provided by Con Ed for construction of Telergy's fiber-optic network in New York. Con Ed says the unpaid bill stands at $13.8 million, but that it may grow if additional invoices go unpaid.
Con Ed asked the court to validate a mechanic's lien filed against Telergy's New York City franchise and to authorize a foreclosure and sale to pay off Con Ed's claims. Telergy has a franchise from the city authorizing it to build the network on rights of way leased from Con Ed. Telergy officials declined to comment about the dispute but almost certainly will go to great lengths to protect their New YorkCity franchise. They have long described the New York City asset as the "jewel" of their fiber network throughout the Northeast, because of the large amount of national and international traffic routed through Manhattan. In January 1998, Telergy and Con Ed agreed to form a jointly owned telecommunications company called Telergy Metro to build and operate a telecom network along routes leased from Con Ed in New York City. The network, which includes some routes not leased from Con Ed, ties into Telergy's network throughout the Northeast. About six months later, Con Ed relinquished its ownership stake in Telergy Metro but agreed to continue leasing rights of way to the new company.
Con Ed then entered a similar lease with its wholly owned subsidiary, Consolidated Edison Communications - in effect, becoming a competitor to Telergy. In 1999, Telergy began complaining to the state Public Service Commission that Con Ed was delaying Telergy's network construction by responding sluggishly to Telergy's requests for maps, manhole inspections and other services required from Con Ed. In January 2000, Telergy filed a formal complaint with the PSC, accusing Con Ed of favoring its own subsidiary by sabotaging Telergy's efforts. Con Ed consistently denied the charge. At least twice, the PSC has brokered settlements between the companies, only to have them unravel later. As recently as June, the PSC resolved a variety of billing disputes between the companies and ordered them to come to an agreement about a construction schedule that would help Telergy make up lost time.
But now Telergy has other problems.
A month ago, the company abruptly laid off 150 of its 615 employees and requested more operating capital from its lenders. The company's founders, directors and other senior executives all resigned, and crisis manager James Harris of Seneca Financial Group was appointed to run Telergy. Harris said he will unveil a restructuring plan to resolve Telergy's money troubles soon. Friday, he told employees that the plan will come before the end of the month."
Dateline September 11, 2002, eh?! Y'all ever heard this story before?! Me, neither...but this has McAuliffe's fingerprints all over it, and as we dig deeper, I'm sure the Clintons are involved in some way as well!!
Opinions?!
FReegards...MUD