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Global Crossing (Nearly) Sold To Singapore
sQuEeDeN writes "According to money.cnn.com, the sale of Global Crossing to STT (Singapore Technologies Telemedia) has been permitted by the administration. There originally were concerns about this sale by the DoD/ DOHS but, by what I assume to be much behind-the-scenes negotiating, such concerns have been alleviated. Ultimately this shouldn't [knock] matter much but it's always interesting to see where your bandwidth comes from. We'll see what it means for the U.S. to have it's global bandwidth be owned by, well, someone else."
I bet carnivore or whatever the hall it's called these days reared it's ugly head somewhere in this deal.
Can't wiretap you country because it's unconstitutional or ISPs won't play? Let an overseas developer buy it in exchange for snooping access.
Just a theory, nothing provable yet, but the deal sounds shady.
Hammer of Truth
You have to remember that even though Global Crossing seems ubiquitous, the company is only four years old (formed in 1999 from a merger between a Bermuda-based fiber-optic company and a local US telecom operator), and really died at the age of two--it was run into the ground by the end of 2001, buried in accounting scandals, and filed for bankruptcy in January of 2002. All it has going for it is a widespread physical infrastructure (most of which it doesn't even own outright, with liabilities in the tens of billions of dollars). I say good riddance; let Singapore have them. The only unfortunate thing is that GC's public shareholders will get nothing--that's a big fat $0--from this deal.
It's hard for thee to kick against the pricks.
Only the future of low cost broadband will be realized through municipal run companies like the electric company. We are lagging behind the rest of the world. Doubters ,ask yourself this, how much would electricity cost if the electric companies were privatized ?
The folks California could help you out there. The big businesses who are always one step ahead of regulators were price fixing and gouging.
Broadband internet access is too important now to let companies like AT&T and Time Warner to control.
If the public and local governments would take control of the cable lines and implement WI - Fi Network over them then we would see some real fireworks. Leasing these lines to big business who put stupid shows and infomercials for the dumbest percentage of the population is not smart.
Inter alia, note the use of the words "ONLY IF",
i rs/exon-florio/
" President can exercise this authority under section 721 (also known as the "Exon-Florio provision") to block a foreign acquisition of a U.S. corporation only if he finds:
(1) there is credible evidence that the foreign entity exercising control might take action that threatens national security, and
(2) the provisions of law, other than the International Emergency Economic Powers Act do not provide adequate and appropriate authority to protect the national security. "
http://www.ustreas.gov/offices/international-affa
"TREASON" has a very specific definition in the Constitution:
"Treason against the United States, shall consist only in levying War against them, or in adhering to their Enemies, giving them Aid and Comfort. No Person shall be convicted of Treason unless on the Testimony of two Witnesses to the same overt Act, or on Confession in open Court."
Clearly, despite all his faults, and they are legion, the glorious leader has done nothing wrong in this case.