Word: winnick
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...charges they face must be clear, and they must have the right to proper representation." Matthias Kelly, chairman of the Bar Council of England and Wales, warned the U.S. not to "demean democracy by descending to the standards of those you are trying to defeat." Labour M.P. David Winnick, reflecting the widespread conviction that Bush owes Blair a favor in return for his loyalty during the Iraq war, caught the national mood at Prime Minister's question time: "Put your foot down, Prime Minister!" None of this noise filters back to Camp Delta, where Moazzam Begg, 35, from Birmingham...
...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. "We want to know what Mr. Winnick knew about the shaky state of company finances when he cashed in," says Investigations Subcommittee chairman James Greenwood. But what it doesn't get from Winnick, the committee may learn from documents that suggest Winnick was well aware of Global's financial troubles even as the company--stop us if you've heard this...
...Global used legally questionable methods to inflate its revenue--"capacity swaps," in which Global and other firms sold each other access to their networks and booked the sales as revenue. These deals added $375 million to Global's bottom line in the first quarter of 2001, sources say, and Winnick approved one just hours before the quarter ended. These deals are now under scrutiny by the Securities and Exchange Commission...
...Winnick's lawyer, Gary Naftalis, says Global did not mislead investors but believed it would make its first-quarter target legitimately. He says Winnick's stock sale was proper and approved by Global's counsel. The committee has yet to be convinced. "Is Winnick a choirboy," asks spokesman Ken Johnson, "or did he steal from the church's collection plate?" --By Michael Weisskopf
...CONTRITION] [Strong stench] Winnick has said zip about unloading so much company stock. Major construction continued at his Bel Air, Calif., estate even as the firm struggled through bankruptcy proceedings...