They have a stripe the entire length of them about 3/8 wide. The ones I recall seeing were purple, green, red and orange, etc.
They (Kewitt) buried the tubes about 7 weeks ago, and the ends are sticking up all over the place everywhere there is a road they have to go under, otherwise, they are fused together somehow between roads, altho' I did NOT observe them doing any of the "fusing."
It's really funny to watch them climb over the hills and stuff. They come out, walk the area and talk to the landowner if living on the property to seek input about how the owner prefers them to go around buildings and other obstructions. This adds to costs overruns as well, since they can't go a straight line through everyone's property.
Then Kewitts came back and put up little black sheet looking stuff about 18" tall with stakes every 24" inches to secure it on both sides to wall off any "polution" of sensitive habitat areas...really funny stuff to see these sheets all over my place.
Then this D-9 cat with this tremendous comma-shaped hook claw comes through and breaks up the ground. Then about 10 days later, they come back with the same D-9 with the hook and tie on the twelve tubes from these humongous spools of tubing just sitting on truck trailer beds, and start going back through the same "groove" they broke up the ground earlier.
If there is are a couple things I'd mention that are costly downside of this whole exuberance of investors in this stock thing I'd start with this: their subcontractors invariably cut existing cable and optic underground cables as they go ripping up the ground with these D9s. And that is just ONE thing that already criss-crosses my place. I also have oil pipelines and gaspipelines, etc...and they are all at risk also as the D-9 operator has to make judgement calls all over the countryside, since a man can walk places where a D-9 canNOT go.
Besides infuriating customers (JUST ASK ME!!!) this add to LVLT's installation costs b/c they have to ultimately pick up the tab of reattaching costs by local CLECs who already own what's in the ground. Acc'd to Jerry, our local CLEC repair dude (CENTURY TEL is my CLEC) you haven't lived until you have to reattach severed fiber optic cable that knocks out 1/3 to half of a state like they are quite often doing out here in Oregon. Its been a real Pain In The Ass...and they have yet to come out here and push through the fiber optics themselves on this new gizmo.
And then there is ALLLLLL the fencing they have to cut. They do NOT do a very good job of putting the fence back up and the neighbors cattle are ALWAYS getting through. Someon e bigger than me is gonna get pissed and sue LVLT and their subs for lost livestock, etc. We've put a call into them to comeback and fix the fencing but they won't do it. And if they do, they will only have to come back again and again, until they are "done" with the whole project.
Also, it gave me pause for thought when I read that they hoped to be done by end of 1999. Seeing the mess in my front 118A, I laughed outloud when I read that. They are lightyears from getting this thing done, and last time I looked, 1999 ended about 90 days ago<vbg>
So,
A) this is going so very much slower than they planned,
B)they aren't able to do it in "straight lines" due to outbuildings, creeks, roads, etc...which adds to "length" costs
C)they aren't able to bring it in on time, which is real obvious,
D) they have humans working the same linear footage over and over again...waste of time...
D) they have more hours put in on these expensive D-9s which means repair bills are higher
E) the longer they take the more expensive the "tubing" gets from the manufacturer since they appear to be petroleum based tubing
F) not all exposed ends up in the air are capped off, which means critters and dirt are filling up tubes...adding more costs for cleaning...
G/Luck...and I'm still waiting for answers to my questions.
I did find out that there are approx 340 Million shares outstanding. And that makes this thing a market cap of 36 BILLION bucks...WHEW...and I also see that acc'd to either yahoo or bloomie, they expect 2000 losses to double. Based on what I'm seeing and how far behind schedule they look like to me, I think THAT doubling '99 losses is conservative.
Also, looking at insider trades, the CEO certainly pukes up 4000 shares every 24 to 72 hours indirectly held...don't they pay that guy enough or something? The 144 registered shares sure are being dumped as soon as they become eligible looks to me like, and NOT just by old CEO James Crowe I believe his name is...of course he only holds 20 millions shares either directly or indirectly...but still...why puke up so many shares so regularly? Sure makes me cautious about plunging into the stock at these dare I say "lofty" levels!!!!!!!
Still hoping to learn what price the secondary offering came out at, and how much was insider selling and how much was "newly printed shares" put out in this secondary.
Any help on this, Anyone??? |
