Global Crossing Board Tossed Aside Loyalty
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Gary Winnick and his bedfellows on the Global Crossing board extracted at least $607 million from the company, portraying a greed and selfishness worthy of Enron, and capped with evidently similar creative accounting by sisters of questionable morals [Global Crossing Hurt by Board’s Cronyism,” Feb. 24].
When we consider that a revenue of $200,000 per employee per year is more or less typical for high-tech companies, it shows that they have managed to torpedo about 4,000 jobs in their own corporation.
What happened to due diligence and corporate loyalty?
We have here a disgusting specter of 21st century corporate leadership becoming corporate raiders, voraciously consuming their own corporate creation and walking away from the collapsing ruins with great wealth.
E.Y. Robinson
Altadena
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