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Technology Stocks : WCOM
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To: dougjn who wrote (3010)7/24/1998 1:14:00 AM
From: MGV   of 11568
 
"You have to understand that this is an industry in which high debt levels make perfect sense."

Exactly.

The last time I checked, debt not only constituted a lower cost of capital but also was being subsidized by tax policy in the form of tax shields.
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