http://ir.idt.net/profiles/investor/ResLibraryView.asp?BzID=566&ResLibraryID=5467&Category=30IDT Corporation Appoints The Honorable Dov Zakheim to Board of IDT Telecom
Former Under Secretary of Defense Joins Board of IDT Telecom
NEWARK, N.J. – March 29, 2004 – IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company, today announced that the Hon. Dov S. Zakheim, retiring Under Secretary of Defense and Chief Financial Officer of the Department of Defense, has been appointed to the Board of Directors of IDT Telecom, effective April 19, 2004. IDT Telecom is IDT’s largest operating division, offering retail and wholesale telecommunication services.
“Dov Zakheim has held prestigious positions in government, business and academia,” said Jim Courter, IDT’s Vice Chairman and CEO. “In a challenging telecommunications marketplace, Dov provides IDT with expertise in economics and strategic planning and brings an outstanding record of leadership to the board. Dov’s experience and sound judgment will play a critical role in IDT’s continued growth.”
Dr. Zakheim was sworn in as the Under Secretary of Defense (Comptroller) and Chief Financial Officer of the Department of Defense on May 4, 2001. Prior to that, he served in a number of key positions in government and private industry, including Corporate Vice President of System Planning Corp, a technology, research and analysis firm, and Chief Executive Officer of SPC International Corp., a firm specializing in political, military and economic consulting.
IDT also recently announced that the Hon. Leon Panetta and Leo Hindery were appointed to the Board of Directors of IDT Telecom. Mr. Panetta served as Chief of Staff to President Clinton and Director of the Office of Management and Budget for the Clinton administration. Mr. Hindrey is the Chairman and CEO of The YES Network, the NY Yankees sports and entertainment television network.
IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own national telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Entertainment is the IDT subsidiary focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT Media is the IDT subsidiary principally responsible for the Company's initiatives in radio broadcasting, brochure distribution and new video technologies. Winstar Holdings, LLC, which provides service under the IDT Solutions brand, is the IDT subsidiary focused on providing broadband and telephony services to commercial and governmental customers through a fixed-wireless and fiber infrastructure. Net2Phone, Inc., a subsidiary of IDT Corporation, is a leading provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscribers.
http://www.defenselink.mil/bios/zakheim_bio.html Dr. Zakheim
Dov S. Zakheim was sworn in as the Under Secretary of Defense (Comptroller) and Chief Financial Officer for the Department of Defense on May 4, 2001. Dr. Zakheim has previously served in a number of key positions in government and private business. Most recently, he was corporate vice president of System Planning Corp., a technology, research and analysis firm based in Arlington, Va. He also served as chief executive officer of SPC International Corp., a subsidiary specializing in political, military and economic consulting. During the 2000 presidential campaign, he served as a senior foreign policy advisor to then-Governor Bush.
From 1985 until March 1987, Dr. Zakheim was Deputy Under Secretary of Defense for Planning and Resources in the Office of the Under Secretary of Defense (Policy). In that capacity, he played an active role in the Department's system acquisition and strategic planning processes. Dr. Zakheim held a variety of other DoD posts from 1981 to 1985. Earlier, he was employed by the National Security and International Affairs Division of the Congressional Budget Office.
Dr. Zakheim has been a participant on a number of government, corporate, non-profit and charitable boards. His government service includes terms on the United States Commission for the Preservation of America's Heritage Abroad; the Task Force on Defense Reform (1997); the first Board of Visitors of the Department of Defense Overseas Regional Schools (1998); and the Defense Science Board task force on "The Impact of DoD Acquisition Policies on the Health of the Defense Industry" (2000).
A 1970 graduate of Columbia University with a bachelor's in government, Dr. Zakheim also studied at the London School of Economics. He earned his doctorate in economics and politics at St. Antony's College, University of Oxford, where he was graduate fellow in programs of both the National Science Foundation and Columbia College, and then a research fellow. Dr. Zakheim has been an adjunct professor at the National War College, Yeshiva University, Columbia University and Trinity College, Hartford, Conn., where he was presidential scholar.
http://www.defenselink.mil/bios/zakheim_bio.html "Rebuilding America's Defenses: Strategy, Forces and Resources for a New Century" published by The American Enterprise's "Project for a New American Century"
http://www.whitehouse.gov/news/releases/20010212-2.html The CEO of SPC
Dr. Dov Zakheim has been nominated to serve as Under Secretary of Defense and Comptroller. He is presently the CEO of SPC International, and in the past he has served as Deputy Under Secretary of Defense for Planning and Resources as well as in a variety of Defense Department positions under former President Reagan. He was a member of the Task Force on Defense Reform under then-Secretary of Defense William Cohen and in February of 2000 he was appointed to the Defense Science Board Task Force on the Impact of DoD Acquisition Policies on the Health of the Defense Industry. He has received the Department of Defense Distinguished Public Service Medal; the Bronze Palm to the DoD Distinguished Public Service Medal and the CBO Director's Award for Outstanding Service. A New York native, Dr. Zakheim is a graduate of Columbia University and has also studied at the London School of Economics. He received his doctorate degree from St. Anthony's College at Oxford University.
http://www.whitehouse.gov/news/releases/20010212-2.html It was an SPC subsidiary, TRIDATA CORPORATION, that oversaw the investigation after the terrorist attack on the World Trade Center in 1993.
Pentagon finance manager resigns
Thursday 11 March 2004
Rabbi Dov Zakheim's refused to tell journalists the exact reason for his departure on Wednesday. A former adjunct economics professor at New York's Yeshiva University, Rabbi Zakheim has spent more than 30 years working in various jobs at the Pentagon.
But he has also worked in private industry, specifically as a consultant to McDonnell Douglas and Boeing.
http://english.aljazeera.net/NR/exeres/635B6007-9DD0-436C-BFF6-E6521520B1C7.htmRabbi Dov Zakheim,
Pentagon comptroller and chief financial officer, a conservative Republican who graduated from Jew's College in London in 1973, Zakheim first joined the Department of Defence in 1981 under former president Ronald Reagan.
He was responsible for such tasks as preparing defence planning guidance for nuclear war.
As Pentagon Comptroller and Chief Financial Officer, Rabbi Zakheim's priority has been financial management.
But that does not include additional spending needed to support US wars in Iraq and Afghanistan - a sum expected to range from $30 billion to $50 billion.
A General Accounting Office report found Defence inventory systems so lax that the US army lost track of 56 aeroplanes, 32 tanks and 36 Javelin missile command launch-units.
http://quickstart.clari.net/qs_se/webnews/wed/dp/Uus-defense-young-analysis.RUt1_DO2.htmlAnalysis: Defense budget practices probed
Thursday, 02-Oct-2003 10:00AM PDT Story from United Press International
Copyright 2003 by United Press International (via ClariNet)
MIAMI, Oct. 2 (UPI) --
Zakheim said, however, he was limited in his response because of the ongoing audit of the issue, which originally was sparked by a telephone call to the Pentagon's Defense Hotline.
"Our objective will be to review the allegations to the Defense Hotline concerning funds 'parked' at the U.S. Special Operations Command by the Office of the Under Secretary of Defense (Comptroller)," said a letter from the inspector general's office to Gen. Charles Holland, who has since retired as Special Operations commander.
Among several documents The St. Petersburg Times obtained during its investigation was e-mail sent by Special Operations Command Comptroller Elaine Kingston to colleagues in February 2002.
She said an unidentified official in the Pentagon comptroller's office had asked her if the command could "park" $40 million of research-and-development money in its proposed budget for the 2003 fiscal year.
The programs where the money was placed included missile warning systems on aircraft, infrared equipment on helicopters and radar system. The amounts ranged from $2 million to $5 million.
Kingston said in the e-mail message she coached her colleagues on how to account for the money and avoid attracting congressional attention to it.
"We are doing a favor for the OSD (Office of the Secretary of Defense) which we hope will benefit the command if we should need additional (research and development funds)," the message said.
Young said at the hearing on President Bush's request for $87 billion for Iraq and Afghanistan Tuesday that he wants to know if it is a common practice.
Young is clearly not finished and called it "an obvious attempt to keep from Congress what was happening. I think that would make you suspicious. It makes me a little suspicious."
http://www.cbsnews.com/stories/2002/01/29/eveningnews/main325985.shtmlAccording to some estimates we cannot track $2.3 trillion in transactions," Rumsfeld admitted.
$2.3 trillion — that's $8,000 for every man, woman and child in America. To understand how the Pentagon can lose track of trillions, consider the case of one military accountant who tried to find out what happened to a mere $300 million.
"We know it's gone. But we don't know what they spent it on," said Jim Minnery, Defense Finance and Accounting Service.
Minnery, a former Marine turned whistle-blower, is risking his job by speaking out for the first time about the millions he noticed were missing from one defense agency's balance sheets. Minnery tried to follow the money trail, even crisscrossing the country looking for records.
"The director looked at me and said 'Why do you care about this stuff?' It took me aback, you know? My supervisor asking me why I care about doing a good job," said Minnery.
He was reassigned and says officials then covered up the problem by just writing it off.
"They have to cover it up," he said. "That's where the corruption comes in. They have to cover up the fact that they can't do the job."
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