To: Victor Lazlo who wrote (143580 ) 7/5/2002 2:18:29 AM From: H James Morris Read Replies (1) | Respond to of 164684 You should come out to California and meet former investment banker Gary Winnick and his Hollywood crowd. I never had a position in Global crossing long or short. So, I have no axe to grind, but I feel bulls and bears should unite and make sure this crook is put in jail. The problem in Hollywood is its hard to find a jury who will convict a celebrity. That's why OJ Simpson is still playing golf in Florida. <<Even by the standards of Bel-Air, Gary Winnick's mansion on Bellagio Road is lavish. Perched on a bluff overlooking the Bel-Air Country Club, the Georgian-style house commands views from downtown to the coast. Its 64 rooms include a kitchen with six sinks and enough ovens to warm 100 plates at once. The master suite boasts separate massage, sitting and shower rooms. There are a dozen bedrooms and a dozen bathrooms just for servants. But Winnick isn't satisfied. He's spending millions to restore the 65-year-old estate. Inside, craftsmen are stripping away seven layers of paint, refurbishing antique doorknobs and light fixtures and sculpting plaster crown moldings using techniques in vogue when the house was built. Outside, as many as 100 workers are resurfacing patios and replacing ailing trees and shrubs. None of this sits well with former employees and shareholders of Global Crossing Ltd., the telecommunications company Winnick founded in 1997. For a few years its stock soared on hope and hype. Then, in January, the company filed the fourth-largest bankruptcy case in U.S. history, wiping out $54 billion of shareholders' money and putting thousands of employees out of work. Winnick, the company's chairman and the largest individual shareholder, lost billions in paper wealth. But he had sold millions of shares two years earlier, when the stock still was flying high. He cleared more than $575 million then and used some of it to buy his $94-million mansion--the highest price ever recorded for a home in Los Angeles County. Now the 8.4-acre spread has become the stuff of legend among those who lost their jobs, investments or both in Global Crossing's collapse. They see the 23,000-square-foot mansion as symbolic of the excesses of the tech boom, when stock options and a giddy atmosphere on Wall Street enabled some entrepreneurs to get rich even as the firms they led were about to melt down. "The company's going down the tubes, and he's flaunting his money and spending millions of dollars on the house," said former Global Crossing employee Michael Nighan, who has joined other laid-off workers in an effort to recoup $32 million in severance pay wiped out by the bankruptcy filing. "At this point, we're beyond anger. Now it's amazement more than anything else." The house and the elaborate renovation are lampooned regularly on a Web site run by former Global Crossing employees. "Where do I sign up as a subcontractor? I need a job," one former worker wrote recently.latimes.com