Excerpts: “Former CEO Seeks Precedence” Global Crossing Ltd.’s former chief executive officer, Leo Hindery Jr., is asking the bankrupt fiber-optic network operator to give him $821,714 in unpaid severance benefits, including rent on a luxury apartment in New York’s Waldorf-Astoria hotel. Hindery, Global Crossing’s chief executive from March 2000 until he resigned the following October, […]
Leo Hindery Jr.
Excerpts: Global Crossing Ltd Def14A (May 08, 2000) The Executive Committee consists of Messrs. Winnick (chairman), Bloom, Conway, Cook, Hindery and McCorkindale. The Executive Committee held no meetings in 1999. With certain exceptions, the Executive Committee may exercise all the powers of the Board of Directors when the Board is not in session. In December
Excerpt: Paul Hastings Expands Corporate Practice With Addition of Partner Gregg Vignos Paul, Hastings, Janofsky & Walker LLP (Paul Hastings), a leading international law firm, is pleased to announce today that Gregg Vignos, previously at Pillsbury Winthrop, has joined the Paul Hastings Corporate Department, resident in the San Francisco office. Source: Paul Hastings
Excerpts: Global Crossing’s 10-K. In January 2001, we sold our GlobalCenter web hosting business to Exodus Communications, Inc. for 108.2 million Exodus common shares, representing approximately 20.0% of its outstanding shares at the effective time of the merger. As of that date, the value of the transaction was approximately $1.95 billion. As part of the
Excerpts: “Global Crossing’s Recurring Adjusted EBITDA up 91%, Cash Revenue up 46%, from Third Quarter of 1999, Pro Forma for M&A Activity.” Results for continuing operations exclude Global Crossing’s incumbent local exchange carrier business (ILEC), which the Company has agreed to sell to Citizens Communications for an estimated $3.65 billion in cash. GlobalCenter, which the
Excerpts: Global Crossing Ltd. Form 10-K, Exhibit 4.5 (“Am No. 1 to Corporate Credit Facility”) AMENDMENT NO. 1 dated as of October 16, 2000 among GLOBAL CROSSING LTD., a Bermuda corporation (“Limited”), GLOBAL CROSSING HOLDINGS LTD., a Bermuda corporation (“GCHL”), GLOBAL CROSSING NORTH AMERICA, INC., a New York corporation (“GCNA” and, together with GCHL, the
Excerpt: “Global Crossing: CEO Leo Hindery is Out, Thomas Casey is In” Leo Hindery, former head of AT&T Corp.’s cable television operations, had only been at the job seven months. He joined Global Crossing last December and succeeded former CEO Bob Annunziata in March. But in the past few months, Global Crossing stock has tumbled
Excerpts: Global Crossing CEO out Analysts surveyed by earnings tracker First Call forecast Global Crossing (GBLX: Research, Estimates) lost 71 cents a share in the recently completed third quarter, more than the 7 cents a share loss in the year-earlier quarter. It is expected to lose $2.56 a share in 2000 and $2.58 a share
Excerpts: Global Crossing: Who’s in Charge? Global Crossing Ltd. (Nasdaq: GBLX) announced this morning that CEO Leo Hindery was leaving his post “by mutual agreement” after seven months on the job. According to Casey, the carrier is on target to meet and probably exceed its earnings estimates, including over $1 billion recurring adjusted EBITDA (earnings