Ok I am involved in a weight loss competition at work. It will be going on for five weeks. I currently weigh 160 and am 5ft 6in. To place I am guessing I need to lose about 14lbs in this five week span. I know most of my competition will be doing the low carb diet during this time. I cannot do the low carb diet b/c it turns me into a complete ****** and it makes me focus on food to the point that I overeat. I've read people who do low carb lose a lot of water weight at first. Will this give the others a big boost in weight loss to where I shouldnt compete? My plan is going to be lots of cardio (jogging, jumping rope) and I am going to stay away from my weights during this time. I am already a healthy eater, so I am going to keep a close watch on my calories. I already drink lots of water, eat fruits, vegetables, whole grains, and have three meals a day with two snacks.

Your plan sounds excellent! The only thing I would recommend would be to do weights as well, but light weights, high repetitions, in a circuit. This way you will be toning your muscles and burning fat at the same time, without GAINING muscle (aka more lbs that you don't want RIGHT NOW).
Honestly, the low carb will give the others an advantage, as they will lose weight quicker, in general. BUT, to circumvent this, you should do your cardio twice a day...first thing in the am, and after dinner, try the circuit. Do it at an intense pace to keep your body constantly burning calories.
Hope you understand what I mean by circuit. If not, here's a brief synopsis: 1 set of pushups IMMEDIATELY followed by 1 set of squats IMMEDIATELY followed by 1 set of crunches and repeat. Use little-to-no rest between, and don't train the same body parts in a row. Reps should be in the 15 to 20 range.
Good luck. And remember, this is a short term challenge. If you don't win, it's ok, because you are making long term changes for a healthier life. It's worth it.

Im not sure what your asking here...yes those first few pounds dropped always give someone a lift..you sound like you have it in the bag with your plans...don't forget the sit ups and leg lifts tho...remember that to lose weight with exercise you must work the whole body! Don't forget to rehydrate during workouts

Check out Jay Robb's Fat Burning Diet - it alternates low carb and high carb days, so you get the benefits of a low carb diet - but you don't do the low carb dieting long enough to turn into a crab butt.
I've done it for 3 weeks and I've lost 10 pounds.

The reality is that it is almost a physiological impossibility to lose legitimate fat in five weeks. Biochemically fat metabolism just doesn't ramp up that quickly. If anybody loses amazing amounts of weight or even significant amounts of weight in that short of a period then they are merely taking advantage of some fluid/hormonal shifts that take place at the beginning of a diet. Any significant reduction in calories consumed is going to cost you some fluid as stored glycogen is liberated as will exercise. Don't crash diet because protein metabolism can ramp up that quickly and I garantee you that some of the biggest losers in this competition will starve themselves into muscle loss so all they will be is a smaller fat person, you don't want that. I just wouldn't get caught up in this mess unless they extended the term. 5 weeks is an eyeblink metabolically and not much time to improve but plenty of time to screw yourself up for a while.