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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: Emile Vidrine who wrote (12091)6/20/2001 10:25:05 AM
From: A.L. Reagan  Read Replies (1) of 15615
 
GX could easily take their $7.5 billion capex money for 01 an 02 and redirect it as "dry powder"

Emile, I challenge that for the following reasons:
1. The 7.5 bil # is way off - try about half of that which, if things go OK, is available. No easy money here.
2. Most of the remaining build-out has been planned, contracted, and ordered. Not easy to stop it without a blizzard of litigation ensuing.
3. Even in this virtual day and age it is not easy to reconfigure physical architectures in a network.

Really, if GX had dry powder of any magnitude, the stock would not be trading < $7, IMO. The C & W's of the world are the operators much better poised to go bargain basement shopping for new routes than the GX's.
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