Hank/Brent,
The interesting thing would be to compare, percentage-wise, what
Excel's net marketing income ($37,648,000 - $61,649,000) is compared
to what Sprint or MCI's net marketing income was for the same time
period, as a percent of their total net income. In other words, is
Excel spending a much smaller percent of their net income on their
marketing plan than Sprint or MCI? I doubt that AT&T would be a fair
comparison (due to their diversification into other areas), but the
others should be a fair comparison.
FYI, I tend to believe that ECI stock will fall some more, but then
recover in '98 to the mid to upper 20's by end of 2nd QTR. Of course,
any rollout of additional services (e.g., PCS) may affect net income,
due to the startup costs).
Also, for Hank and Frank, what's your current take on the AIPN story?
Last time I heard from Frank was that he had a short position in the
stock.
Cheers,
JT |
