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Technology Stocks : GX Investors Thread
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To: Bonzo who wrote (194)8/29/2001 7:07:44 PM
From: BWAC  Read Replies (2) of 586
 
<You don't buy back stock when you are laying off hundreds of employees, closing dozens of worldwide offices and aligning projected expenses with lowered revenue guidance.>

Whoa. Hang on a second there. The reduction in workforce was done due to the completion of the basic network and there being no need to continue to carry the previously required number of employees. Same with closing some of the worldwide offices. They were done due to the maturing nature of GX's operations according to what GX management says.

As far as aligning expenses to revenues? Isn't that what businesses do in the normal course of operation? They align costs to revenues for profit.

All of which has nothing to do with the decision to buy back stock or to not do so. GX SHOULD NOT buy back stock, they need every bit of cash on hand to fund the business plan. Just as you said.

Management should use their own excessive GX salaried money to buy stock. Instead of using the company's needed liquid capital.
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