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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..]
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To: gauguin who wrote (1264)8/3/2000 10:05:40 AM
From: silicon warrior  Read Replies (1) of 1860
 
I don't believe Rouhana will ever sell, since his perspective on WCII's value is vastly divergent from everyone else's. Although you want some of this attitude in your CEO, it deprives you of any deal upside. I am convinced that Rouhana simply wants to build the biggest broadband company at any cost; thus, much like Jeff Bezos, he will build growth at any cost, without regard for profitability. As you know, each time WCII approaches the potential of becoming EBITDA positive, much less profitable, he ups the ante. This past quarter he spent 22 million extra on office.com. Given that "dotcom" companies are pretty much worthless in the present environment, I believe the shareholders would have been much better served by taking the 22 million as a further EBITDA improvement. These companies are in big disfavor because of "Amazon" uncertainty--who says they'll ever be profitable--and talk is cheap, show me the profits is today's rule--and we continue to break it. Sorry for all.
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