"Doug Kanter" wrote in message
...
"Charles" wrote in message
...


Doug Kanter wrote:

"Charles" wrote in message
...


Yes, let's talk about morality, something you know little about
personally. Let's talk about Ullico, and stealing and fraud:


How was Harry involved with the Ullico saga?


Ha ha ha ha ha. Good one Douglas.

-- Charlie

I honestly don't know! Do you have an answer?

Harry reported that he owned Global Crossing and turned a nice profit a year
before news of the Global Crossing scandal broke.

In February 2002, Harry wrote:
"Speculation futures? Is that on the NASDAQ? Sorry, Markie, but the last
speculative investment I made (and got out of a year ago) wasn't in
commodities. It was the now notorious Global Crossing."

In March, 2003, the NY Times wrote:
"In the late 90s, Ullico was able to buy Global Crossing
stock at its initial public offering (IPO) price. By 1999, a $7.6
million investment had mushroomed to $335 million. After pricing its own
stock at a set $25 per share, Ullico directors changed the rules,
setting a new price at the beginning of each year.

Global Crossing spiraled toward bankruptcy, and Ullico's stock took a
tumble, the Ullico directors who had bought their stock at $54 a share
were given two opportunities to sell it back, the first time for $146 a
share, the second time for $75. As Georgine and the other Ullico
officials made $6.7 million in profits, the union pension funds that own
Ullico could not take advantage of the same deal."
----------------------------------------------------

Harry was working for ULLICO and using insider info to make a profit, while
those with money in the union pension funds got screwed.