Is Global Crossing in Less Risky Waters?

摘要

Don't look now, but Davy Jones's locker just coughed up Global Crossing. For those who blocked out the horror of it all, Global Crossing is the telecom network operator with peerless political ties (top Democrat Terry McAuliffe, President George H.W. Bush) but bogus revenues. It went under two years ago, wiping out equity once valued by the stock market at some $50 billion. Late last year it exited bankruptcy, and on Jan. 22 began trading on NASDAQ (new symbol: GLBC).