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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: RobertSheldon who wrote (5758)4/25/2000 2:32:00 AM
From: Teddy  Read Replies (2) of 15615
 
I finished reading the Proxy.

I agree with The Board.

Our board of directors determined that, on balance, the potential advantages of the tracking stock proposal outweigh any potentially negative consequences and unanimously recommends approval of the tracking stock proposal.
Our board of directors believes that an increase our authorized shares of common stock at this time is in the best interests of Global Crossing so that we can implement the tracking stock proposal and have available the number of shares needed for possible acquisitions, capital raising, future conversion, dividends and current and proposed stock incentive plans.

Robert, thanks for the Lehman's report. I just took a quick look at it and will read it soon. I don't remember seeing "4 or 5 X Invested Capital" used in a real report before, but I'm sure my Dad (the famous bean counter) will enjoy the DCF stuff<G>
Figure 4 on page 5 "Global Network and Builder Profiles" is pretty interesting: Global Crossing has the lowest network cost of anyone on the list.

BTW, i was reading some of the recent post on this thread. The best one was from the person that was surprized that they did not receive a reply from Jenny Chowderhead. <VBG>
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