Global Crossing CEO Gary Winnick just wrote out a $40 million dollar check to the Winnick Institute in Jerusalem.
UNTRUE and quite inaccurate. He pledged 40 million
"By far the foundation's largest single donation is the $40 million pledged to the Simon Wiesenthal Center for construction of the Winnick Institute in Jerusalem. The institute will represent a philosophy and function similar to that of the Wiesenthal Center's Museum of Tolerance in Los Angeles.
Winnick has met his initial obligations on this pledge, and the outstanding payments are linked to the institute's construction schedule, said Rabbi Marvin Hier, dean and founder of the Wiesenthal Center."
It is worse than I said.
An earlier bankruptcy declaration by a major corporation - the international communications giant, Global Crossing, last month - inflicted serious fiscal damage on one of the corporation's owners, Gary Winnick, the largest contributor to the Jewish Federation of Los Angeles. Winnick regularly donated approximately $100 million annually to Jewish causes.
Global Crossing never made a profit. Stockholders were wiped out. $12 billion in equity lost. Thousands unemployed. Yet Winnick made enough money off the bust to give away $100 million a year--much of it to a foreign country. And now Global Crossing is owned by Hutchinson Whampoa, a company controled by Communist China.
Israelis should be buying pizza for the Americans Winnick and his friends wiped out.