WINNICK SEEN AS POSSIBLE INSIDER TRADER: Congress Eyes Global Crossing CEO

AP ^ | 8/30/02 | MARK SHERMAN

[Liz]

And where Winnick goes on the investigation trail, McAuliffe is soon to follow.......

[Coop]

The GOP needs to jump on this with both feet, tying it to Dem politicians and McAuliffe. Hopefully that will tie both parties into this mess, somewhat neutralizing a Dem issue for November.

[mombonn]

Please, please, please let McAwful get caught with his fingers in the cookie jar!

[Registered]

bttt

[Liz]

And let their be a big rat trap in that cookie jar......

[OldFriend]

Winnick did not engage in insider trading with that man Terry McAwful!

[JulieRNR21]

I echo your wishes & would also like to see Rubin get investigated!

[txzman]

Winnick and McAuliffe used Global Crossing as a personal and political bank, doling out shares to influence labor leaders, pension funds and the powerful they needed to bankroll this company out of thin air. They are not 'inside traders' - they are thieves. Period.

[Liz]

Methinks the issue's been neutralized though I would not discourage the Pubbies to take your avenue of approach should they scareup the nerve to play hardball.

[Liz]

( Winnick and McAuliffe) are not 'inside traders' - they are thieves. Period.

No one could have said it any better than that.....thanks.....

[Liz]

Heh,heh,heh....the tried and untrue Clinton defense......

[RetiredArmy]

As usual, the GOP will stumble, trip, slip and fall and not take advantage of an opportunity. The party of missed opportunity is the GOP.

[Liz]

Here's what I want to know:

I'd like to know how McAwful got his initial $100 thou GX investment? Was he a fictitious employee of GX, listed on the payroll, but doing nothing for his "salary?" Or was the $100 thou an unsecured loan from GX? (SEC don't like stuff like that.)

Or did McAwful actually make an investment before cashing in?

The day after Global Crossing went bankrupt in January, McAwful dismissed criticisms by telling CNN that the firm's share price "continued to go way up after I sold my stock." Like he was unconcerned at the cash-out price.

Wait a sec.

What price did McAwful pay in 1997 (before GX's March 1999 2-for-1 split) when he made his original so-called investment of $100 thou?

If he sold at GX's split-adjusted peak share price of $128.50 — which he claims he did not — he would have paid 71 cents per share in 1997 in order to pocket a return amounting to 180-fold profit.

If he sold at substantially less than the split-adjusted peak price of $128.50 — as claimed — then he had to have purchased his shares in 1997 at substantially less than 71 cents each.

By golly, methinks this is another case for the SEC, the FBI, the Congress, maybe even {{{shudder}}} the taxman.

[justshe]

TOO delicious! We are 'creeping towards the creep'....!

[Liz]

.......and none too soon.........

[colorado tanker]

This gets even better. Tom Strickland, Wayne Allard's opponent, represented Global Crossing, racking in more than $400,000 in legal fees. And good ol' Tom personally made a killing with insider IPO stock he got from Global Crossing. Inredibly, Strickland has been attacking Allard as opposed to accounting reform. Now it turns out Tom was paid six figures for representing a crook!

[Liz]

Guess you know....finally Rubin has been put on the Enron-related investigation list.

[Liz]

The kiss of death.......GX, stock manipulation, IPO insider favoritism, accounting fraud.....hope Allard is up to the challenge.

[Liz]

......ping...........

[Grampa Dave]

You are the typical petty conservative. This is so petty: Winnick sold $734 million in stock before the company, which built a worldwide fiber-optic network, filed for bankruptcy protection in January.

Hey it was only $734 million. Besides Winnick is a big time donator to the Clintons, the DNC, McAulfle, abortion, gay predator rights and other important perverted issues. Besides, all this petty politics will never feed a starving chile er chilrun.