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.
12/04/97 MRCO Meridian National Corporation Insufficient Cap & Surplus; Bid Price Below Min
12/04/97 MRCOP Meridian National Corporation $.375 Cv Pfd B Insufficient Cap & Surplus; Bid Price Below Min
12/04/97 MRCOZ Meridian National Corporation Wts 6/22/99 Insufficient Cap & Surplus; Bid Price Below Min
"As we begin this new millennium, I do so with a renewed commitment to our mission to support the organized men and women of America and those who lead them. It is natural to begin this report by calling attention to the 164 percent increase in stockholders' equity. As we reported last year, the gain in equity is in large part due to the investment in Global Crossing Ltd. Our original stake of $7.6 million in that company has increased many times over, accounting for combined after-tax realized and unrealized gains of more than $1 billion at year-end."
******
"....many times over...."???
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FYI, there's more about this rogue's gallery of unindicted criminal co-conspirators here:
Martin David was indicted and pleaded out (along with SDSer Michael Ansera & Jer Nash) in the same teamster-DNC embezzlements
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why do I find unsettling the image of Ken Lay, Martin Davis and Terry McAuliffe all together in Aspen ?
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Terry invests $100k (or the net amount after a shrewd $1K cattle futures position) then advised his institutional investors to pile on ...... Terry makes $18 millions
Do the others in the IPO get hosed or are they tipped to take the money and run??
I don't know if it's unlawful .... but it stinks to hell
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Some of the others are also gone.
Ted Kheel or Martin Davis surface?
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this one was Boilerplate Whitewater ~ right down to the straw-man father-in -law
By September it was revealed that Terry had underwritten the Clinton Mortgage in NY ~ the case seems to have died
ELECTRICAL WORKERS (IBEW)
DOL Sues Union Fund Tied to Clinton-Crony McAuliffe
The U.S. Dep't of Labor filed suit May 5 against two trustees of the $8.3 billion Nat. Electrical Benefit Fund charging improper dealings between the fund and top Clinton-fundraiser Terence R. McAuliffe. According to DOL, NEBF trustee John Grau and ex-trustee Jack F. Moore imprudently lent over $6 million in pension assets. NEBF is operated jointly by the Int'l Bhd. of Electrical Workers, from which Moore retired as secretary in 1997, and the Nat. Electrical Contractors Ass'n, of which Grau is a vice president.
The scam involved a $6 million loan in 1992 to Columbia Land & Development Corp. of Orlando to buy a subdivision called Country Run which was to be developed into 545 lots. McAuliffe and his wife, Dorothy S. McAuliffe, own Columbia. The loan was in default from Dec. 1992 to Oct. 1997. DOL says NEBF should have known the loan couldn't be repaid in full with interest. The suit seeks the trustees to reimburse the fund for losses, including interest.
The McAuliffes also own Am. Capitol Management, a partner with NEBF in a separate investment called Am. Capitol Group I Assets LP, which guaranteed payment of the Columbia loan. In a separate 1991 investment, NEBF paid $38.7 million to buy five apartment complexes and a shopping center near St. Petersburg. The partnership bought the properties from the Resolution Trust Corp., which had taken control of them from a bank in receivership that had been owned by McAuliffe's father-in-law.
DOL alleges NEBF imprudently purchased a $2.45 million interests in ACGIA, a move that reduced the value of the ACM guarantee on the Columbia loan. McAuliffe's holdings in ACM had been collateral for the loan. The suit further alleges trustees made one of the purchases in the ACM partnership even though the Columbia loan was in default. The pension fund then reportedly sold its share of the partnership and the Columbia loan to ACM at a loss. [Pensions & Investments 5/17/99]
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. Same Clinton Judge who moved the Linda Tripp case:
Judge Rules In Favor Of Wilson In Civil Rights Commission Case
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I'm not sure, havn't seen them listed on any insider trader reports, but I don't think they are still represented on the board.
We need to keep posting and talking about this. Then as the FBI Investigation and SEC investigation starts indicting or preparing to indict many key DemonicRats, we will see massive early retirement by the Rats!
Behind closed doors, roll over deals will be made. We see a lot of key DemonicRats retiring from the Senate, the house, governorships, and as union scum bag (leaders) to spend more time with their families.
We will turn DemronGate around on them too. Demrongate will be a rabid pit dog that turns around and chews up its evil master. The evil master who tried to sic the pit bull on GW and the Repubies!
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