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Technology Stocks : ICGX - Intelcom Group
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To: Captain Jack who wrote (312)9/19/2000 10:34:22 PM
From: AJ Berger  Read Replies (2) of 335
 
My faith in Malone is growing thin

I believed Malone would help close the deal when Telergy was sniffing around ICGX a few months ago. Now here we are with both those stocks down over 90%. I know Malone wanted to get his money out of ICGX so he could leverage other deals, but now he'll just have to convince creditors to restucture their debt. Those idiots on the Yahoo thread don't understand that a company a billion dollars in debt is not allowed by it's creditors to dissappear or even go into Chapter 11 protection, rather they will work hard to get ICGX back on track, so they can ultimately recover some of their investment. That's why I was a buyer at 7/8ths today. I figured how much more bad news can there be? Shame this is not a Japanese company. Then the board members who resigned today would be banned from working at this level of responsibility for the rest of their lives. Best way to make money here? Shorting other CLEC's...
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