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Technology Stocks : Winstar Comm. (WCII)
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To: John Lacelle who wrote (12449)4/22/2001 2:40:43 PM
From: Ken Muller   of 12468
 
John:

". Its down from 30 to about 4 but how can this company go
under? It can't."

Yes it can. If the state refuses to allow electricity rates to rise enough to allow PG and E to make a profit, the assets will be sold. In that case, the company is history. Bondholders are not Good Samaritans

In WCII's case, they had no such price limitation. The market simply could not provide enough revenue for WCII services to be profitable. Because of that, I believe WCII assets will be liquidated.
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