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Global Crossing chairman says he had no inkling of trouble
Global Crossing Chairman Gary Winnick testified he did not learn of the firm’s deteriorating finances until June 2001 after selling $123 million in stock in May. He pledged $25 million to offset employee retirement losses and said he spoke daily with CEO Thomas Casey about management discussions. House committee members pressed him on his claimed ignorance before bankruptcy filing seven months later.
MENTIONED IN THIS ARTICLE
Washington
Global Crossing
Gary Winnick
Winnick
Thomas Casey
Hortiaus Utives
James Gorton
House Energy and Commerce Committee
Billy Tauzin
R-La
Taheaented Crossing Ltd
Qwest Unications International Se