SFD,
I'm glad the company finally broke their silence. They were late, and as a result the shorts were able to dip us below 20. I hope management learned a lesson about stock pricing in the 21st century. Can't let the message board posters control your company or investor confidence will be shot.
Here's some good news.
Fez
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Global Crossing Connects Argentina to Global Fiber Optic Network
BUENOS AIRES & MIAMI--(BUSINESS WIRE)--Nov. 15, 2000--
-- Global Crossing is now offering fiber optic capacity and services from Buenos Aires to North America, Europe and Asia.
-- Global Crossing will have 2200 kilometers of terrestrial fiber optic cable in Argentina, linking Buenos Aires with other major cities in the Americas and worldwide.
-- Service to commence in Brazil next week.
Global Crossing Ltd. (NYSE:GX), which is building and offering services over the world's most extensive global IP-based fiber optic network, today announced that it has commenced service of its global fiber optic network in Argentina. With this development, Global Crossing becomes the first company to connect South America to North America, Europe and Asia over one seamless fiber optic network. Global Crossing also announced today that it has been awarded a license to operate in Argentina by the Argentine National Telecommunications Commission and the Secretary of Communications of Argentina.
"We are proud to announce today that our global network is operational in the vital market of Argentina, providing the country with unprecedented connectivity to major cities worldwide over our seamless, IP-based global network," said Tom Casey, chief executive officer of Global Crossing. "Our network and the services it enables will give Argentina access to the rich information resources, financial data and electronic transactions that drive the world economy. We are also looking forward to the imminent connection of Brazil, another critically important world market." Joseph A. Guzman, Global Crossing's chief operating officer for Latin America and the Caribbean, added, "The scope of what we have accomplished in such a relatively short period of time is remarkable. We are very grateful for the tremendous support from our colleagues at Impsat Fiber Networks, Lucent Technologies and Alcatel Submarine Networks, whose commitment and effort have made it possible to complete this major milestone."
The fiber optic connectivity and network resources brought to Argentina by Global Crossing are among the most advanced and secure in the country, employing techniques that will actively protect the system against fiber cuts and network accidents. The high-capacity network will enable a variety of new services and bandwidth-intensive applications such as telemedicine, distance learning, and streaming audio and video. In addition, end-users will benefit from faster Internet access and shorter downloads.
"We are excited to bring this telecommunications infrastructure to Argentina and play a role in the positive impact that deregulation is having in the country," said Patrick Joggerst, Global Crossing's president for South America. "We would like to extend our gratitude to President de la Rua, Telecommunications Secretary Henoch Aguiar, and Minister of Economy Dr. Jose Luis Machinea for their leadership and cooperation in bringing our network to Argentina. We look forward to continuing our work together to the benefit of the Nation and its people."
Global Crossing is providing service to a number of major telecommunications companies that are using the global network for transmission from Argentina to a number of major cities worldwide. Among those customers presently activated on the network are Impsat Fiber Networks, Lockheed Martin Global Telecommunications, AT&T Latin America Corp., PSINet and TechTel. Global Crossing is investing approximately $2 billion dollars in the construction and operation of its network resources in Latin America, with roughly $100 million dollars dedicated to Argentina. |
