WSJ.com :: Former Global Crossing Ltd. Chairman Gary Winnick knew about the capacity swaps that helped sink the company, and even volunteered to use his personal influence to help close the deals, internal company documents show. Read more »
WSJ.com – Ebbers, Nacchio, Others Face Suit Over Hot IPOs ::New York State Attorney General Eliot Spitzer announced Monday that he is filing a civil suit against former WorldCom CEO Bernard Ebbers and four other top telecom executives over charges that the executives received shares of […] Read more »
TIME.com: Global Crossing: What Did Winnick Know? :: Gary Winnick, the flamboyant chairman of Global Crossing, is expected to be the next embattled executive to take the Fifth Amendment on Capitol Hill, when he appears this week before Representative Billy Tauzin’s House Energy and Commerce Committee. Read more »
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CNBC Extra :: Corporate crime goes prime time What could be more riveting than high-powered scandal, surly accountants and bikinis? Check out a fall lineup with growth potential. Read more »
Light Reading :: Jack B. Grubman, the former Salomon Smith Barney telecommunications analyst, was slapped with another shareholder lawsuit today. This news comes two days after NASD, the association of broker-members that serves as the regulatory arm of the Nasdaq market, announced that it has fined […] Read more »
WSJ.com :: Of all of the myths that drove the 1990s technology boom — dot-coms made good investments, the New Economy would never experience a recession, small telecom companies could beat the mighty Bells — the most damaging may have been the fallacy that Internet traffic […] Read more »
WSJ.com :: David F. Myers, the former controller of WorldCom Inc., is expected to plead guilty to two felony counts Thursday in connection with his role in the mounting accounting scandal at the telecom concern, according to people with knowledge of the matter. Read more »
WSJ.com :: Qwest Communications International Inc. came under intense scrutiny on Capitol Hill as three telecommunications companies said they cut side agreements with the Denver-based telecom concern that purportedly helped Qwest improperly recognize hundreds of millions of dollars in revenue in 2000 and 2001. The allegations […] Read more »
NYPOST.COM Business :: Lawmakers grilling a top telecom exec from Qwest Communications learned how a negative research report can shut a leading Wall Street investment bank out of their business. Read more »
What really goes on at these Desi parties? Is it a bunch of Desi kids sharing their culture and comparing their lives about living in the Diaspora? Or is it just a bunch of wild college students using the name Desi Party so that theyre strict […] Read more »
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Classic Situation: You just left college and are sitting at home on a Saturday night reminiscing about the good old days when your social life was so vivacious, the weekend began on a Wednesday night. Unfortunately, the epoch of going to parties where the ladies aren’t […] Read more »
BBC Online :: If you thought owning and running an Indian restaurant, cooking curry both in the domestic kitchen or as a professional chef and even talking about Indian food as a learned practitioner, is strictly the domain of Asians, then think again. Read more »
New York Times :: Regulators from the securities industry sued Jack B. Grubman, the former analyst at Salomon Smith Barney, and an assistant yesterday, contending they wrote misleading research on the telecommunications company Winstar Communications. Read more »
The Globe and Mail :: Troubled Teleglobe Inc., which once vowed to spend billions to ring the world with fibre-optic cable, said Thursday that it has agreed to sell most of its assets to two American turnaround experts for $155.3-million in cash. The sale is subject […] Read more »
It is mid afternoon and I am sitting on the beach with my FUJI digital, and uploading images from a wireless modem – technology is great, nature is better. just look at god and his creation – spectacular isn’t it! Read more »
Here I am still trying to figure out how to work and finish the story which i promised my editor, but something out there is distracting me… is it dire straits on my IPOD or is it the beauty of the landscape that lies in front […] Read more »
An Indian doctor says “Medicine in my country is so advanced that we can take a kidney out of one man, put it in another, and have him looking for work in six weeks.” A German doctor says “That is nothing, we can take a lung […] Read more »
Washingtonpost.com :: Gary Winnick, founder and chairman of Global Crossing, is looking for a buyer for the opulent former headquarters of the failed telecommunications firm. Winnick bought the landmark complex through his investment firm Pacific Capital Group for $41.5 million in 1998 and then leased it […] Read more »
WSJ.com :: Federal investigators of WorldCom Inc. are scrutinizing personal loans that former Chief Executive Bernard Ebbers granted to Ron Beaumont, WorldCom’s chief operating officer, who was facing financial difficulties last year as the telecom company’s stock plummeted, according to people familiar with the matter. Read more »
New York Times :: Global Crossing Ltd. filed a reorganization plan yesterday that its new owners, an investor group from Hong Kong and Singapore, hope will allow it to become profitable after emerging from bankruptcy by the beginning of next year. Read more »
Red Herring Scoop :: So this went on the website a full five hours before the House committee decided to make the news public. So here we go again and click to get the details. After scoring some big kills with the likes of Martha Stewart […] Read more »
Light Reading :: After less than five months at the helm of one of the most scandal-ridden companies in history, John Sidgmore will relinquish his position as WorldCom Inc.’s (OTC: WCOEQ) CEO as soon as a replacement for him is found, the company said yesterday Read more »
WSJ.com :: Gary Winnick, the chairman of Global Crossing Ltd., has been subpoenaed by the House Energy & Commerce Committee, along with other top-ranking telecommunications executives, the latest indication that legal pressure is building on the embattled telecom companies. Read more »
TheDeal.com – Cuban: No NHL or arena %uFFCA%uFFCA Read more »
WSJ.com :: WorldCom Inc.’s board is expected Tuesday to consider whether to undo the severance package of ousted Chief Executive Bernard J. Ebbers, which includes the repayment terms of a low-interest $408 million loan and lifetime retirement pay of $1.5 million a year, according to people […] Read more »
WSJ.com :: In late July, as Williams Cos. wobbled on the edge of a bankruptcy filing, Oklahoma Gov. Frank Keating went on local TV and asked fellow Oklahomans to pray for the future of the 94-year-old natural-gas-pipeline company. Tulsans took to wearing caps or shirts with […] Read more »
WSJ.com :: The French government is gearing up to help financially restructure France Telecom SA, with a clear rescue plan due possibly as early as in the next few weeks, according to people familiar with the situation. Read more »
WSJ.com :: Spitzer on trail of Salomon Bankers :: Amid disclosures that investment-banking clients of Salomon Smith Barney pocketed huge profits from hot IPOs, the New York attorney general’s office is looking into the activity of senior Salomon executives who worked closely with former research analyst […] Read more »
Tivoted If you think that Mac users are fanatical, you should check out the TiVoted, worshippers of the TiVo personal video recorder (PVR), a fancy device that can record television shows, minus the commercials, to a disk drive for you to view at your leisure. The […] Read more »
New York Times :: Another Slap at Democracy on Wall St :: Millions of investors rushed into the stock market in the 1990′s, believing that Wall Street was at least a fairly level playing field. Although they have since learned how illusory that notion was, the […] Read more »
New York Times :: Telecom Wreck Provides an Opening for AT&T :: WorldCom, Global Crossing and the Williams Communications Group, along with a half-dozen other providers of telecom services to business, are all in Chapter 11 bankruptcy proceedings. Many of them are also shedding customers and […] Read more »
New York Times :: Ebbers Made $11 Million on 21 Stock Offerings ::Bernard J. Ebbers, WorldCom’s former chief executive, made more than $11 million in four years on 21 hot stock offerings he received from Salomon Smith Barney, according to documents released yesterday by the House […] Read more »
New York Times ::So finally he has been caught lying. I think it is quite evident to us that there is more to Level 3 than meets the eye. Today’s NYTimes reports that James Q. Crowe, another former WorldCom director who is chief executive of Level […] Read more »
Light Reading :: The war of words and research building between WorldCom Inc. and AT&T Corp. just got hotter. In an interview with Light Reading today, Vinton Cerf, WorldCom’s senior vice president of Internet architecture and technology, spoke out about AT&T’s claims. “They’resuffering from network envy […] Read more »
New York Times :: Gary Winnick, the billionaire chairman and founder of Global Crossing, may have helped oversee the company’s aggressive use of swapping communications capacity on its fiber optic network with other companies, according to documents obtained by a Congressional committee. Read more »
breakingviews :: So Marconi has done its deal with its creditors. And, as expected, the banks and bondholders have ended up with the lion’s share of what value is left in the former high-flying telecoms manufacturer. Not only do the creditors receive £260m of cash and […] Read more »
IndustryClick :: TelephonyOnline.com:: If you ever wanted an encapsulated account of the rise and fall of the telecom market, you have come to the right place. Other than the recently revealed fraudulence of WorldCom and company–which after all can be found in ALL industries and businesses–the […] Read more »
TechNews.com ::Billionaire financier Carl C. Icahn announced yesterday that he has agreed to acquire almost all of XO Communications Inc.’s $1 billion in bank debt through a tender offer of 50 cents on the dollar. Read more »
TechNews.com :: A federal grand jury in New York indicted two former WorldCom Inc. executives on charges of securities fraud yesterday while three other officials at the telecommunications giant indicated that they are prepared to admit wrongdoing and cooperate with prosecutors in the fast-paced investigation. Scott […] Read more »
Okay there is a lot of freaky emails we get, but this one caught my eye – I am not sure how true this is, but give it a shot, what do you have to lose. except your dignity. We hope you are riding THE SINGLES […] Read more »
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