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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: Howard C. who wrote (2787)10/23/1999 9:28:00 PM
From: mthomas  Read Replies (3) of 15615
 
RE: Junk Bonds and gold

Seems to me GBLX is now just where the realy big players want them: borrowing money from them in order to finance a sure thing. After hammering the stock price into the ground, where else can GBLX get the money? And if it were not a sure thing, would these cartels be willing to come up with the cash? Remember what Lee Iacocca did with Chrysler? Get enough debt out there to the right parties, and they will not let you fail. It will cost a bundle, but it seems to me there is no other way to enter into the world-class league, without going through the fraternity hazing and paying the piper. The money is looking to get invested into this operation, but the "right price" will always be questioned.

Last week on Monday when there were no buyers out there, I saw a 500K and 300K block hit GBLX in the morning. Price slid 2+ points. That is all it slid. One of the most vulnerable days ever, the 12th anniversary of Black Monday, and still it held even after the bond rating downgrade, which was expected by anybody paying attention to the financial side of this organization. The investors in GBLX at this time are in for the long haul, it seems. I fully expect a shelf statement authorizing more shares for discretionary use as soon as GBLX breaks through 40, and hangs there for a few days. Remember there are only 40+million shares floating, so a 10 million share authorization could hit the stock price pretty hard. Just a thought. My shares are not going anywhere but into the future of this jewel. Martin
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