As an example of callous, cold-blooded greed, Gary Winnick is hard to match. He misled employees and shareholders while he stuffed his own pockets, not caring whose lives he destroyed as he enriched himself in a sickening display of gluttony and venal avarice. All told, Global Crossing may be the most outrageous overreach in corporate history; in our judgment, even more than Enron.

Mr. Winnick, a well-trained acolyte of disgraced junk-bond king Michael Milken, had already acquired a reputation as an arrogant and flashy manager when he founded Global Crossing in 1997. Riding the telecommunications hype of the 1990's, the company built the world's largest fiber-optic network, transmitting text, data, video and voice among 27 nations. From the time the company went public in 1998 to when it went bust, Mr. Winnick sold $734 million worth of Global Crossing shares. And he made sure everyone knew it. He bought a $92 million estate abutting the Bel Air Country Club, spent hundreds of thousands of dollars redecorating the company's offices, gave a Rolls Royce as a gift to a top executive, and demanded that the company maintain a fleet of five jets, including a Boeing 737. During a 1999 meeting, as recently reported by The NewsHour with Jim Lehrer, Mr. Winnick gloated, ÒThe company has experienced remarkable growth. Mornings I wake up, I look in the mirror and I say to myself, 'What happened here?'Ó

But Mr. Winnick's self-examination was only skin-deep: When the company started to report earnings losses and spiral downward last year, he and other Global Crossing executives kept employees and shareholders in the dark while they greedily cashed in hundreds of millions of dollars of stock. According to The NewsHour, corporate insiders sold their stock for a total of $1.5 billion. Fat paychecks for top management were the norm. Last year, after the company announced layoffs of 2,000 employees, Mr. Winnick hired a new chief executive-his fourth in four years -named John Legere, and gave him a $1.1 million salary, a signing bonus of $3.5 million and a promised annual bonus of $1.4 million. Mr. Legere recently had the chutzpah to say to Congress, ÒLet us be clear: Global Crossing is no Enron.Ó

Meanwhile, Mr. Winnick had tried to cover his political bases. Terry McAuliffe, Bill Clinton's best friend and chairman of the Democratic National Committee, turned a $100,000 investment in Global Crossing into $18 million. Global Crossing donated over $200,000 to Governor George Pataki and New York Republicans, and Mr. Winnick himself gave $20,000 to New York State Comptroller Carl McCall, who just happened to invest $63 million of the state public-employee pension fund in Global Crossing. That money is now gone; Mr. McCall, trying to cover his back, claims he is outraged and will sue. Mr. Winnick also tried to buy his way into New York's cultural circles, giving $5 million to the Museum of Modern Art and loudly telling associates that the museum's chairman emeritus, David Rockefeller, was his Ònew best friend.Ó

Perhaps the most heinous chapter in the scandal involves a Rochester, N.Y.–based phone company, Frontier Corporation, which Global Crossing bought in 1999. Large portions of the 401(k) plans of many of Frontier's employees-solid middle-class people struggling to keep up-were subsequently invested in Global Crossing stock, and as a result their retirement savings are now worthless. Mr. Winnick and his cronies might just as well have broken into their homes and looted their belongings. And many of the 9,000 Global Crossing employees who lost their jobs have said that promised severance payments never materialized and health benefits were abruptly cut off.

Having presided over one of the worst beatings that shareholders and employees ever received, Mr. Winnick seems unperturbed. He's in the middle of a $15 million renovation of his Bel Air home. If he had a conscience, he would be haunted by his own words: ÒWe're not going to be the Flying Wallendas in the business,Ó he said in 1999. ÒWe have a big responsibility to our shareholder base and to our employees. And we're never going to violate that.Ó

Thousands of employees and shareholders are feeling the effects of Mr. Winnick's Òresponsibility.Ó Now the only responsible thing to do is to put Gary Winnick behind bars.

Manhattan Crime Rate At 19th-Century Level

In the last days of Rudolph Giuliani's administration, there was much discussion of whether the city's record drops in crime would continue under a new Mayor.

Three months into Michael Bloomberg's Mayoralty, we have our answer: Crime continues to go down, and the Police Department, under the leadership of Commissioner Ray Kelly, continues to be among the world's most innovative and efficient crime fighters. That's excellent news, and it bodes well as the city rebuilds after the horrors of Sept. 11.

Statistics released in late March show that murders in Manhattan are down 70 percent-yes, 70 percent. As of mid-March, there had been just eight murders in Manhattan in 2002. That's the lowest number since the late 19th century. Can such a low number be sustained in the 21st century? Why not? A decade ago, who would have predicted that the city's murder rate would drop to 1960's levels? There can no longer be any doubt that New York is the nation's safest big city.

Nor can anyone deny that New York's Police Department has put its resources to brilliant use. Under Mr. Kelly, the department is updating its technology to allow for better use of computers in fighting crime. He has asked private consultants from I.B.M., Deloitte Consulting and Merrill Lynch to take a look at the technology with an eye toward several improvements, including hand-held devices for beat cops so they can check criminal records of suspects.

The efforts of Mr. Bloomberg and Mr. Kelly to keep crime down undoubtedly will have happy consequences not only in terms of public safety, but in economic terms as well. The words Òlow crimeÓ and Òeconomic developmentÓ go together. In that regard, the city could do a better job of touting New York's new image as the low-crime capital of urban America. City Hall ought to broadcast all this good news in an aggressive pitch around the nation and overseas. Low crime makes New York not only more attractive for visitors, but for young people and families looking for new homes. Money invested in selling New York's new image is money well spent.

The 13th- and 14th-floor, 17-room penthouse apartment near 62nd Street was inherited by Mary Tod Rockefeller when she and Nelson Rockefeller divorced in 1962; Mr. Rockefeller kept the 12th floor of what was once the family's triplex. Originally priced at $19.5 million last October, the apartment boasts unparalleled views and a choosy co-op board that nixed multibillionaire Gary Winnick, chairman of Global Crossing Ltd.'s $16 million offer on Jan. 4. Mr. Winnick was allegedly rejected by the board, presided over by Eric Sheinberg, a former partner of Goldman, Sachs & Company, because he planned to do extensive renovations that would have disrupted the sensitive tenants. Mr. Winnick had hired architect Charles Gwathmey to oversee the remodeling of the six-bedroom apartment before the co-op board called off the whole deal.

The apartment's condition has not changed. "It's awful," said one broker. "It's a moldy apartment. It needs every single thing."

It is unclear whether the co-op board has had a change of heart about any new owner doing significant renovations–or if, in fact, that was ever the real issue concerning Mr. Winnick's application to purchase the apartment. The notoriously tough board includes art patron Maureen Cogan; Elizabeth Rohatyn, wife of the U.S. Ambassador to France; and socialite Jan Cowles.

Mr. Foster, 56, is the founder and managing partner of Foster Management Company, a venture capital firm based in King of Prussia, Pa., that was incorporated in 1972. In 1984, he founded Novacare, a firm that specializes in providing rehabilitation services like prosthetics care and long-term orthotics, building it up to a $2.5 billion company. Just a few months ago, he stepped down as chairman of Novacare and, as of Jan. 24, became the chairman of the executive committee of the board of directors at Xyan.com, a printing Company launched by Foster Management in 1994. Xyan.com specializes in creating lithographs on computers and in providing networks that can print documents at the same time in different offices. In 1991, Business Week estimated Mr. Foster's net worth to be at least $100 million, and largely liquid. According to one report, he donated $50,000 to the Democratic Party in 1997 and attended one of President Clinton's White House coffee parties during his re-election effort.

Mr. Foster received a business degree from Dartmouth College in 1967. He recently sold Dolobran, a 100-acre estate at 231 Laurel Lane in Haverford, Pa., for approximately $15.9 million. He and his wife are currently renting an apartment in Manhattan and a house in Pennsylvania.

"He splits his time between New York and Pennsylvania," said a source.

Mr. Foster's broker, Debbie Solomon of Douglas Elliman Realty, did not return The Observer 's phone calls. "We have no comment," said someone at Mr. Foster's office, about the deal.

TRIBECA

IT'S NOT FUNNY! STILLER AND CAREY ARE STUCK IN THE LOBBY Ben Stiller, who just wrapped a new film, Meet the Parents , with Robert De Niro, will soon be his co-star's neighbor. The actor-comedian–who played the nice guy who won the sweet but ditsy blonde in 1998's hit There's Something About Mary –just bought himself a brand-new condo at Franklin Tower, on Franklin Street near White Street. The purchase by the actor, who was raised on the Upper West Side by comedian parents Jerry Stiller and Anne Meara, is expected to be final in a few weeks.

But Mr. Stiller and Mariah Carey, who has also bought a place in the building, aren't sure when they can get into their apartments. The building, which was supposed to be completed by late 1999, still wasn't ready for occupancy in February. According to a real estate source, Ms. Carey is not thrilled to be temporarily residing on two floors of a town house at 42 East 75th Street, between Madison and Park avenues, while she waits for the condo's renovations to be completed. And Mr. Stiller is still in his Greenwich Village apartment on Fifth Avenue.

"The building was the fastest condo conversion project in history. It sold out in 22 weeks!" boasted one real estate source. None of the condos in the building went for less than the asking price–Mr. Stiller paid just under $1 million.

Mr. Stiller's apartment, almost 2,000 square feet, comes equipped with a bathroom that includes a steam shower, two bedrooms, two baths, a huge living room, high ceilings and walls of windows with views of TriBeCa, the Empire State Building and the Chrysler Building. His broker, Bruce Ehrmann of Stribling & Associates, would not confirm the deal.

The building features a rooftop exercise room and a full-time concierge. "Ben has been looking for quite a while and wound up choosing what I think was the best available condo on the market in downtown Manhattan for the price," said a broker.

UPPER EAST SIDE

120 East 87th Street

Three-bed, three-bath, 1,896-square-foot condo.

Asking: $1.25 million. Selling: $1.2 million.

Charges: $1,246. Taxes: $1,098.

Time on the market: N/A.

A PICTURE THAT WAS WORTH $1.2 MILLION "It can only be bought sight unseen," the owner of this apartment told Geovanna Lim-Haas, a broker at Sumitomo Real Estate Sales Inc. So, as buyers lusting for square footage are apt to do these days, an eager couple decided on Feb. 10 to buy this condo between Park and Lexington avenues based on a floor plan. The only consolation may be that they didn't have to look into the sad eyes of the tenant who has been renting the place for $8,000 a month for the last five years, but will not have his lease renewed. "In this crazy market, you want to be fast," said Ms. Lim-Haas. "It was an impromptu decision." In 3-D, the place has a formal dining room and an open layout, helped along by 18-foot-high ceilings. "It's one-of-a-kind for an Upper East Side lofty apartment," said Ms. Lim-Haas. Back to Upper East Side reality, the building has a pool, a gym, a garden, a concierge and a parking garage.

UPPER WEST SIDE

11 Riverside Drive, at 73rd Street

Two-bed, two-bath, 1,200-square-foot co-op.

Asking: $599,000. Selling: $599,000.

Charges: $890; 40 percent tax-deductible.

Time on the market: eight weeks.

ANTSY COUPLE MUST ENDURE TWO CO-OP BOARDS It was a December evening at 7 P.M. when a married couple saw a picture of this apartment in the window of a broker's office. "They said they wanted to see it now," said Lawrence Schier, a senior associate from the Corcoran Group who canceled his dinner plans after he got the O.K. from the seller to show the space. The evening was not a bust. Once inside, "[The couple] said, 'We'll take it,' and paid the full asking price without asking any questions," said the broker. The deal closed in early February, under one condition: The seller isn't moving out until he's approved by the co-op board of his new apartment. The apartment has 9.5-foot-high beamed ceilings, parquet floors, excellent light and garden views. It also just became the most expensive apartment per square foot in the Schwab House, which was built in 1950 and has a full-time doorman, elevator operator and concierge, a roof deck and a health club.

MIDTOWN

425 East 58th Street

Three-bed, four-bath, 2,900-square-foot co-op.

Asking: $2.1 million. Selling: $2.1 million.

Charges: $3,691.45; 60 percent tax-deductible.

Time on the market: 5 1/2 months.

HOW ABOUT A LITTLE MAINTENANCE ON THE HOUSE? The Sovereign, a co-op apartment building just off Sutton Place, has entered the $2.1 million club. On Jan. 18, a buyer paid that amount for this apartment; the price was the highest ever for any apartment in the building. Back in 1991, the seller paid $1.25 million for the co-op, which has north, south and east exposures. "The apartment is in really good condition," said Avida B. Ghafari, a broker with William B. May Real Estate who represented the seller. She said the new owner would be doing "some minor work," but would be in her record-breaking pad soon.

245 East 48th Street

Four-story, 3,500-square-foot town house.

Asking: $1.95 million. Selling: $1.8 million.

Time on the market: N/A.

BANKER IS DRAGGED TO HILLARY COUNTRY, FORFEITING HIS DOWN PAYMENT A banker signed a contract to buy this town house between Second and Third avenues last March, but got so impatient with the seller's delays of the closing that he abandoned hopes of ever moving in and fled to the suburbs. "His wife got fed up and said, 'I've had enough. I'm going where Hillary is,'" said broker Anne Snee from the Corcoran Group. In doing so, he lost his $180,000 deposit to Del Goldsmith, an attorney who has lived in the town house with his family for about 45 years. So Ms. Snee found another couple to buy the house in late January. The couple, both in the telecommunications business, had looked at only two other houses; they liked the backyard access to the landmarked and private Turtle Bay Gardens at this address. The 20-foot-wide house also has a spacious living room, a dining room, two utility rooms, and original details including crown moldings, fireplaces and oak floors. "It's really charming, and it has retained a lot of its old-world charm," said one of the new owners. Robert A. Knakal, chairman of Massey Knakal Realty Services Inc., represented the seller.

Two months ago, Mr. Winnick, the chairman of a Beverly Hills-based cable conglomerate known as Global Crossing Ltd., made a $16 million deal to purchase the former apartment of Nelson A. Rockefeller-a duplex penthouse on the 13th and 14th floors of the B-list co-op. But fresh from their New Year's vacations, the members of the co-op board voted not to accept Mr. Winnick as a neighbor, according to sources, because they didn't want to endure a lengthy and noisy renovation of the 17-room apartment-an inevitability, according to an October article in The Times stating that the place needed "hundreds of thousands of dollars" in improvements.

There have been some reports that Mr. Winnick might have been considered an unacceptable applicant, even though his wealth has been pegged by Forbes magazine at $3.2 billion. One source with knowledge of the screening process said that the executive's purchase application included letters of recommendation from none other than David Rockefeller Sr., Nelson's brother, and former California governor Pete Wilson, now an officer in Pacific Capital Group, a merchant bank of which Mr. Winnick is chief executive. Mr. Rockefeller was traveling out of the country, and his assistant, Peter Johnson, could not confirm that his boss had given a personal reference for Mr. Winnick. "They've met each other a couple of times, and certainly know each other, but I don't know if it would extend that far." Mr. Wilson did not return a call for comment.

But the co-op board's four members-art patron Maureen Cogan; Elizabeth Rohatyn, the wife of the U.S. Ambassador to France, Felix Rohatyn; socialite Jan Cowles; and the board's president, Eric Sheinberg, a former partner of Goldman Sachs & Company-were quite up front about their reasoning, said a source.

"What Gary has been led to believe is that the big issue was that he was proposing to completely renovate," said the source, "and that was something they didn't want to agree to, given the potential disruption.

"[But] Gary made it known that he wasn't going to do the deal if he couldn't do the remodeling." In fact, he had already appointed architect Charles Gwathmey to the job.

According to brokers who have seen the six-bedroom apartment, which was inherited by Mary Tod Rockefeller when she and Nelson Rockefeller divorced in 1962, the views are still unparalleled, but the apartment has significantly faded since its heyday, the rooms are small or have been carved up, and the two floors do not fit together very well.

Some of the building's residents, who were disappointed by the board's decision and felt they weren't properly consulted, might dispute the rejection, said another source. But that would be almost unprecedented. Still, any other buyer is apt to do a total renovation, too.

No. 810 consists of just 12 units: a ground-level maisonette, 10 floor-through units and the penthouse. Dwayne Andreas, the retired chief executive of grain processor Archer Daniels Midland Company, owns one. Mr. Sheinberg could not be reached for comment.

Meanwhile, Mr. Gwathmey, who designed Mr. Winnick's current apartment in the Sherry Netherland Hotel, 781 Fifth Avenue at 59th Street, where the bicoastal businessman lives with his wife and three children when he is in New York, will have to throw out his blueprints. Mr. Winnick will have to resume his property search. And the Rockefellers might have to rethink the pricing of their penthouse, originally set at $19.5 million last October, in light of the co-op board's view.

UPPER WEST SIDE

305 West 98th Street (Schuyler Arms)

Two-bed, one-bath, 1,050-square-foot prewar co-op.

Asking: $475,000. Selling: $475,000.

Charges: $974; 46 percent tax-deductible.

Time on the market: one day.

COUPLE GETS SOME OF THE OLD MAN'S MONEY The Schuyler Arms was built in 1902 and gutted and renovated in the early 1980's. This apartment, on the top floor of the building, caused quite a frenzy among shoppers. At an open house, a Venezuelan man approached the broker and in broken English told her that he would be buying the apartment for himself and his wife-she's a TV producer, he's a composer who teaches at the Juilliard School. Yeah, sure, O.K., whatever. Then came his all-cash offer in the amount of the full asking price, thanks to his father, a wealthy Venezuelan businessman. The couple had been living in a one-bedroom apartment on West 79th Street, near Columbus Avenue, which they plan to keep (it will be used as his studio). They wanted to stay in the same neighborhood, and this was the first apartment in their price range that had a lot of light and open views. In a few months they should be able to move in and, they hope, start a family. First, though, they're enlarging the kitchen, exposing the brick here and there, and maybe even adding a bathroom. Thank you, Daddy! Broker: Corcoran Group (Debbie Isaacs).

UPPER EAST SIDE

200 East 89th Street (Monarch)

One-bed, one-bath, 650-square-foot condo.

Asking: $315,000. Selling: $310,000.

Charges: $456. Taxes: $300.

Time on the market: eight weeks.

TRACK LIGHTING: APHRODISIAC OR WARNING SIGN? One more bachelor has been taken off the market-and now his apartment has been, too. A formerly single guy has owned his sunny 15th-floor apartment since the building went up in 1987. Now that he's engaged, it's time for a bigger home. Enter a very eligible analyst on Wall Street with an M.B.A. who, we hear, is fairly easy on the eyes. This is his ticket out of mom and dad's place. If you're thinking he paid quite a lot for a smallish one-bedroom, well, he did. But don't miss the wraparound terrace that faces west and east; the wall-to-wall carpeting; the marble bathroom; the built-in entertainment center with a wine rack (don't ask!); even a built-in bed and desk in the bedroom; and track lighting. (Hint: Keep 'em dim, you big romantic.) Look out, ladies! Broker: Douglas Elliman (Heidi Berger).

15 East 69th Street

Two-bed, 2.5-bath, 2,476-square-foot condo.

Asking: $2.5 million. Selling: $2.5 million.

Charges: $1,904. Taxes: $1,700.

Time on the market: two months.

YOU CAN EVEN CALL THE GUY IN THE LOBBY JEEVES This fifth-floor apartment is located in the former Westbury Hotel, which was recently converted into condominiums. The buyers, a dermatologist and her urologist husband, are among the first residents of the building, with its concierge, doorman, elevator operator, gym and wine cellar. On the ground floor are a few of the city's finest retail stores, such as Cartier, Mont Blanc and Alfred Dunhill. The buyers had been commuting from the suburbs for quite some time and felt ready to return to the city. Although initially they planned to rent-in order to be absolutely certain that they wanted to be here-their broker took them over to this place, and they had to have it. They made an offer the following day. The apartment has skyline views, a library, a dining room, marble baths, herringbone floors and a kitchen equipped with appliances from General Electric's Monogram line. There are also 10 phone lines, in case the cell phones are out of order. Broker: Douglas Elliman (Carol Staab).

GRAMERCY

142 East 16th Street (Gramercy Spire)

Four-bed, three-bath, 2,600-square-foot co-op.

Asking: $1.495 million. Selling: $1.345 million.

Charges: $3,233. 55 percent tax-deductible.

Time on the market: four weeks.

I CAN'T BELIEVE IT'S NOT A LOFT Well, it's not. It's a penthouse, between Third Avenue and Irving Place that just costs like a loft. The sellers decided there was such a thing as having too many homes, right after they discovered a thing called retiring early. Now they're based in Miami and Fire Island, and a couple of Web surfers have taken their place on East 16th Street. The couple clicked on this 21st-floor apartment and discovered that it had a formal dining room, central air-conditioning, a wood-burning fireplace and a 1,600-square-foot wraparound terrace that can be accessed from every room in the apartment. They'd wanted to tour nothing but lofts but went to see this apartment and submitted an offer the same day. Unlike most loft buildings, this one is equipped with its own parking garage and a full-time doorman. Broker: Corcoran Group (Robert Manzari, Bonnie McCartney).

GREENWICH VILLAGE

29 King Street

One-bed, one-bath, 1,800-square-foot condo.

Asking: $1.35 million. Selling: $1.25 million.

Charges: $662. Taxes: $1,700.

Time on the market: one month.

PEOPLE WHO LIVE IN GLASS HOUSES-OR IS IT SCHOOLHOUSES Did you see Celebrity ? Shot here. Can you say 1,200-square-foot terrace? Open any sliding glass door in this horseshoe-shaped penthouse. There it is-planted, too. Ever want to say you live in a former schoolhouse? This one was converted to condominiums in the early 1980's. The sellers were true pioneers-here since the beginning. To be the buyer, you just had to be the highest bidder, like the couple who signed a contract three days before Christmas. Broker: Douglas Elliman (Judith Medwin, Wendy Gleason, Christopher Poussaint).

CARROLL GARDENS

136 Summit Street

Four-story house.

Asking: $625,000. Selling: $615,000.

Time on the market: one month.

THE SUMMIT STORY He was born and raised here in Brooklyn. He met his wife at the church across the street. Now he's in his 70's, so they're moving to a smaller place in New Jersey. They're passing the house on to a graphic designer, a sales executive and their dog. The buyers will rent out two floors and occupy the other two, but not before raising the ceilings and tearing out the wooden beams he installed. Broker: Corcoran Group's Brooklyn Landmark (Jim Rigney).