-Caveat Lector-

Subject
>From (Hot linque)

US acting like Star Chamber, says judge
http://www.telegraph.co.uk/news/main.jhtml?
xml=/news/2002/08/15/wbush15.xml&sSheet=/news/2002/08/15/ixworld.html

Jack Grubman resigns from Salomon with $32m
http://news.ft.com/servlet/ContentServer?
pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1028185800372&p=
1012571727085
Rise and fall of the telecoms cheerleader

August 2002
Mr Grubman, now under investigation for his links with WorldCom, leaves Salomon with a
$32m severance package
July 2002
Mr Grubman�s testimony before the House Financial Services Committee reveals he
attended three WorldCom board meetings. Later a subpoena is issued over Salomon�s
dealings with WorldCom, and in particular the role played by Mr Grubman
April 2002
The SEC launches an investigation into investment banking conflicts of interest as 
Eliot
Spitzer, New York attorney general, expands his probe to cover other banks including
Salomon. Mr Spitzer�s initial probe led to an out- of-court settlement with Merrill 
Lynch
April 2002
Having been their biggest cheerleader, Mr Grubman finally drops his "buy" 
recommendation
on WorldCom, admitting �we have been wrong on the stock". Days later the financial woes
at the telecoms group are revealed
2000
As the telecoms and internet-fuelled boom peaks and share prices begin to fall, Mr
Grubman refuses to abandon his views, his recommendations or his friends in the 
industry
1990s
Jack Grubman, an analyst with Citigroup-owned Salomon Smith Barney, becomes Wall
Street's spokesman for a generation of telecoms companies - such as Global Crossing,
Winstar and WorldCom - seeking to profit from deregulation in the industry. Mr 
Grubman's
"buy" recommendations allow these groups to raise billions of dollars from investors 
and
pursue an aggressive merger policy, often financed or advised by Salomon.

Israelis increase filings for US patents
http://www.jpost.com/servlet/Satellite?pagename=JPost/A/JPArticle/ShowFull&cid=
1028814706967

Black eyes for Murdoch as books go red
Rupert Murdoch's News Corporation sustained losses of $6.3bn (�4.1bn) last year as it
suffered from disastrous investments in Germany's KirchMedia and Gemstar, the 
interactive
television business.
http://media.guardian.co.uk/rupertmurdoch/story/0,11136,774846,00.html

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A<>E<>R
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Forwarded as information only; I don't believe everything I read or send
(but that doesn't stop me from considering it; obviously SOMEBODY thinks it's 
important)
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In accordance with Title 17 U.S.C. section 107, this material is distributed without 
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profit to those who have expressed a prior interest in receiving this type of 
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"Always do sober what you said you'd do drunk. That will teach you to keep your mouth
shut."
--- Ernest Hemingway

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