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To: sandintoes who wrote (9500)1/31/2002 2:31:55 PM
From: Yogizuna  Read Replies (2) | Respond to of 17683
 
CNBC finally aired a piece on the GX story today, and they mentioned how the majority of the money given out in this case was to the democrats! (55% to 45% for the republicans) Also, GX was ranked 23rd and ENE 36th or 37th as far as handouts given out by major companies to political types.



To: sandintoes who wrote (9500)1/31/2002 3:40:56 PM
From: Bill  Read Replies (1) | Respond to of 17683
 
For Terry McAuliffe to have turned $100k of GX into $18 million, he would have had to purchase the stock for $0.30 or less per share. He admitted on TV to buying his shares in early 1998.

GX went public in August 1998 at $12 per share. The highest price it ever achieved was in the $60s.

Bottom line, he had to have been invited to buy into a "Friends and Family" pre-IPO round for less than 30 cents/share and sold his shares after it rose on the public markets.

Anyone who looks up the stock history and does the arithmetic can figure out that on TV he lied about buying it "on the open market". He's not the great investor he claims to be, he's just a political insider who was offered a lucrative opportunity most likely as a quid pro quo.

FWIW, IRS regulations require him to report the difference between his price and the fair market value of the securities as income because of the proximity of his transaction to the IPO. Wonder if he did...



To: sandintoes who wrote (9500)2/6/2002 7:26:56 PM
From: Thomas M.  Read Replies (2) | Respond to of 17683
 
They are trying to tie the Enron scandal to the Republicans, and can find nothing.

Oh, they've found plenty.

michaelmoore.com

Tom