Nathan Newman, among others, commented last March on Richard Perle’s involvement with Global Crossing while serving on the Defense Policy Board.
This is the NYT’s link Nathan provided which is now archived.
This is an analysis by Eugénie Larson published on Light Reading.
It was from that article that I came across the information that not only did Global Crossing enjoy the influence of Perle but Henry Kissinger as well.
Global Crossing already engages lobbyists Covington & Burling and Skadden, Arps, Slate, Meagher & Flom, LLP & Affiliates and has hired former secretary of state Henry Kissinger — through his law firm, Kissinger McLarty Associates — as an advisor, according to Global Crossing’s bankruptcy filings.
But while the above certainly have significant clout, they can’t touch Perle on influence with the current government. For someone who, among other things, has been credited with helping form the policy that today has bombs pulverizing Baghdad, getting the DOD to go along with a small business deal should be a piece of cake.
I thought at the time that Larson couldn’t be more right and this morning the prediction panned out.
[Excerpt]
Telecoms group Global Crossing Ltd. could emerge from bankruptcy as early as next week after regulators cleared the $250 million sale of a majority stake to Singapore Technologies Telemedia (STT), people familiar with the deal said on Thursday.
STT’s bid to buy a 61.5 percent stake in Global Crossing must close by October 14, under an earlier agreement.
“Both parties are working very hard to meet that dateline. Once it is closed, Global Crossing will emerge from bankruptcy,” said a source familiar with transaction.
The U.S. Federal Communications Commission (news – web sites) on Wednesday approved the transfer of licenses allowing STT, which is owned by an arm of the Singapore government, to buy Global Crossing after a protracted security review.
“The continued operation of the Global Crossing subsidiaries will benefit competition by preventing discontinuance of service and providing customers choices among providers of telecommunications,” the FCC (news – web sites) said.
“FCC approval is a major milestone, the last regulatory requirement for our emergence from Chapter 11,” said John Legere, Global Crossing chief executive officer in a statement.