portland independent media center  
images audio video
newswire article

corporate dominance | imperialism & war

BULLShit Markets and idiots who support their own losses

How many ways can we fuck ya INC
View Thread | Return to Index | Read Prev Msg | Read Next Msg

Rumor Mill News Reading Room Forum


Posted By: lawgiver1 < research@lawgiver.org>
Date: Saturday, 6 April 2002, 1:45 p.m.

In 1997, Gary Winnick formed GLOBAL CROSSING (Bermuda) LTD. Previously, while working for Drexel, Winnick rose to become a top aide to junk bond king and white collar criminal Michael Milken.

GLOBAL CROSSING LTD., whose slogan is "ONE WORLD, ONE NETWORK", is the largest international fiber-optic network in the world in terms of actual cable installed, mainly terrestrial and sub-sea cable networks connecting Asia, North & South America, and Europe with over 100,000 miles of fiber-optic cable exclusively tying together 27 countries and more than 200 major cities. Their fiber-optic networks serve 80% of the world's telecommunications traffic.

GLOBAL CROSSING LTD. (GBLX) begins NASDAQ trading of their stock to the public in August 1998 at a split-adjusted $9.50. By March 1999, the share price is $64 making the 1997 private stockholders super-millionaires overnight.

In September 1999, ASIA GLOBAL CROSSING LTD. is originally formed as a private joint venture between GLOBAL CROSSING LTD., MICROSOFT, and SOFTBANK of Japan.

GLOBAL CROSSING LTD. (GX) is listed on the NYSE in April 2000 at $33 per share via a special brokerage pre-offering through Solomon Smith Barney. SSB broker/agents are given special bonuses and commissions to secure pre-sales of the stock at prices ranging from $30-40.


April 2001 - GX shares are worth $10, one year after being offered on the NYSE.

October 2001 - GX shares are worth $0.38 each.

January 25, 2002 - A Chinese conglomerate, comprised of HUTCHINSON WAMPOA LIMITED and SINGAPORE TECHNOLOGIES TELEMEDIA PTE. LTD., agree to "invest" USD $750 million into GX-LTD as the primary owner in a "takeover" immediately before GX-LTD declares Chapter 11 Bankruptcy on January 28, 2002. The Chapter 11 bankruptcy specifically excludes all the ASIA-GX subsidaries [they are all very profitable companies].

April 2002 - Just two years after the NYSE offering, former GX shares are worth $0.09 and the stock is now listed as GBLXQ, an over-the-counter (OTC) trade along with other penny stocks.

The Chinese consortium buyout/pre-bankruptcy "investors" of GX-LTD will emerge in August 2002 as the primary Chapter 11 owner before bondholders and stockholders. In reality, they purchased a $22.4 BILLION asset company (as of January 2002) for $750 million. That's 3 cents ($.03) for every $1 of value. The public stockholders of GX-LTD are now holding nearly worthless penny stocks.

THE CHINESE CONNECTION (PART I): Hutchinson Whampoa Limited (50% of GX-LTD's bankruptcy "investor") is a Hong Kong company that also owns 1/2 of the ASIA-GX subsidary HUTCHINSON GLOBAL CROSSING. Hutchinson's owner also owns an estimated 60% of ASIA GLOBAL CROSSING LTD through investment subsidaries under the control of Hong Kong's well know billionaire, Li Ka-shing. Hutchinson is currently the primary telecommunications network supplier for both Hong Kong and mainland China through CHINA NETCOM. Part of their deal to "invest" in the pre-bankrupt GX-LTD was that they receive 50% of all GX holdings worldwide (that includes ASIA-GX, EUROPE-GX, and GX-LTD) moments before GX officially filed for Chapter 11.

THE CHINESE CONNECTION (PART II): Singapore Technologies Telemedia Pte. Ltd. (the other 50% of GX-LTD's bankruptcy "investor") is a Singapore company that also owns 1/2 of the ASIA-GX subsidary STARHUB CROSSING which, through two other China partnerships, links to EAST ASIA CROSSING and GLOBAL CROSSING NETWORK.

THE CARLYLE CONNECTION: In 1997, William Conway, Jr., Managing Director of the Carlyle Group, joined the Board of Directors for GX-LTD. The Caryle Group is a major player behind SOFTBANK who now owns an estimated 20% of ASIA GLOBAL CROSSING.

THE BUSH CONNECTION: In 1997, former President George Bush received 150,000 (pre-split) private GX-LTD shares in lieu of a cash fee for speaking at a ASIA-GX sponsored telecommunications meeting in Tokyo. In March 1999, his stock was worth over $13 million. Global's vice-chairman, Lodwrick Cook, a former ARCO executive, is a prominent GOP donor and close friend of ex-President George Bush.

ARTHUR ANDERSON CONNECTION: Arthur Anderson of Bermuda (now of ENRON fame) is the official accounting firm for GX-LTD. They are unable to supply the current annual financial statement for GX-LTD and have delayed making it public. In August 2001, a five-page letter written by Roy Olofson, former vice president of finance at GX-LTD, contained a detailed analysis of deceptive accounting practices involving Global Crossing, its sister firm Asia Global Crossing, and its auditor, Arthur Andersen. These charges included inflated revenue and cash-flow figures. [This is just like the ENRON scam]. Global Crossing's top attorney, Jim Gorton, quit GX-LTD immediately after receiving Olofson's letter.

THE BRITISH CONNECTION: GX-LTD provides the private and secure communications network for all 240 British embassies, consulates, high commissions and diplomatic missions worldwide. GX-LTD also provides the worldwide network services for COMPUTER SCIENCES CORPORATION (CSC) Data Center in Maidstone, UK.

THE STOCK EXCHANGE CONNECTION: GX-LTD provides the only secure broadband communications network for NYSE firms to access trading.

THE BANKING CONNECTION: GX-LTD. is the exclusive communications network provider for the 7,000 financial institutions in 196 countries for SWIFT (based in Belgium). The average value of payments for banks, treasuries, securities and trades on SWIFT is estimated to be more than USD $6 TRILLION DAILY.


1. GLOBAL CROSSING (Bermuda) LTD. controls the international financial exchange through SWIFT. If GX hits the switch, international electronic financial settlements will be nearly impossible. SWIFT can be compromised in an instant.
2. GX controls the NYSE communications network. If GX hits the switch, the NYSE will be shut down electronically. The NYSE can be compromised in an instant.
3. Since 80% of current world telecommunications involves going through GX or one of its subsidiaries, if the network is shut off, international communications will nearly come to a halt. International communications can be compromised in an instant.
4. The entire international UK secure communications system is on a GX-LTD network. The security of the UK can be compromised instantly.

GX is RIGHT NOW under the management and control of two Chinese based companies who will most likely emerge as the "official" owners when Chapter 11 terms are announced in August 2002.

Like ENRON, all bondholders and stockholders will receive nothing for their investments. This might better be called "how to scam an investor with his eyes open".

It appears that ARTHUR ANDERSON is a key player in "cooking the books" of major international corporations so that their fall is considered a "shock" when, in reality, the purported demise and bankruptcy of both GX and ENRON were well planned.

What we are seeing in the GX scam is the planned bankruptcy of worldwide communications so that the Chinese can gain immediate control of stock, financial, and communications networks.

March 25, 2002 - "We are pleased to have received Court approval on a buyer protection motion that was supported by Global Crossing and its creditors." --- Press Release from Hutchison Whampoa Ltd. and Singapore Technologies Telemedia Pte. Ltd. issued in response to the United States Bankruptcy Court's approval of the Buyer Protection Motion relating to their letter of intent to acquire Global Crossing.

A final comment - Isn't it odd how the BUSH BOYS, The CARLYLE GROUP, ARTHUR ANDERSON, and the CHINESE always seem to be at the bottom of every major event in the world the past decade? In the case of GLOBAL CROSSING, whoever gives the orders behind the control of their networks right now can basically control the entire world. Without the GX networks and cables, international business and all finances can be brought to an immediate shut-down.

As Global's slogan says, ONE WORLD, ONE NETWORK. Think about it.

Messages In This Thread

lawgiver1 -- Saturday, 6 April 2002, 1:45 p.m.
COMMAND & CONTROL (views: 213)
Aladdin -- Saturday, 6 April 2002, 3:14 p.m.
lawgiver1 -- Saturday, 6 April 2002, 6:10 p.m.
View Thread | Return to Index | Read Prev Msg | Read Next Msg

Rumor Mill News Reading Room Forum is maintained by Administrator with WebBBS 4.31.



Carlyle is wired into U.S. govt., too 08.Apr.2002 20:16

Alan Turing

I did some research a little while ago, and although I'm ashamed to say I forget the name of the company, one of Carlyle's companies is a computer services corporation.

They've got BIG installations in all of the major agencies of the Executive and Legislative branches of the U.S. Government.

Not only is that a sweet setup for espionage, it would be handy for a coup, too.

Talking about computer security is just so many farts in the wind when a single company has so much penetration.