Last week I fulfilled the pledge that I made in October by establishing an irrevocable $25 million escrow account at Union Bank of California for the benefit of Global Crossing employees who invested their 401(k) plan in company stock.

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When I sold that stock, the company had just completed an analyst call reporting its quarterly numbers, ... ... I was in Asia at the time when I read this report and our CEO at the time reconfirmed guidance both for the quarter and for the year, so the suggestion that I sold stock based on information that was not readily available is not correct.

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I am personally, along with my family, going to guarantee $25 million to the people who have lost their money in the 401(k) plan, ... They had nothing to do with the loss.

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