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Technology Stocks : NEXTEL
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To: Al Gutkin who wrote (4931)3/2/1998 12:44:00 PM
From: John F. Dowd  Read Replies (1) of 10227
 
Dear Al:

I own MSFT and INTC at 14 and 9 respectively. Both have no debt but both are in industries that have a low tolerance for debt and which, if they are successful and because of the inherent margins, very seldom require external capital.Nextel on the other hand needed the cash to expand and did not want to further dilute the equity so they borrowed.

Now when you talk about using the NXTL credit to invest in ventures outside the company then we have a real problem. This is an altogether different complaint. Can you document the leakage of billions or even some funds? As an accountant you would see the very dire consequences of such malfeasance.

Regards,

John
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