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Technology Stocks : ANTEC Corp. (ANTC)
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To: tech101 who wrote (835)7/13/2001 7:50:20 PM
From: Arthur Tang   of 847
 
While Wall street journal is hanging on every word that Mike Armstrong is saying, we really have to look at his background. At IBM, he was passed over for Gerstner a financial consultant to take over. At Hughes, he lost money running directv. At ATT broadband, he is now acquiring new customers(piggyback) and selling them off for cash.

What ATT needs after the spinoffs, is a matrix management structure in order to run the giant smoothly and collect cash from the subsidiaries to run the headquarters. With the cash cow of long distance telephone business, ATT never had to raise cash before. They never had to have matrix management to run Western Electric and Bell telephone Labs. By government regulation, they have to have write offs to justify the high rates of long distance telephone minutes, by spending foolishly. How things have gone out of hand, now; when long distance is free on the internet.

Armstrong is just raising cash to be spend foolishly. Until some one goes in to run the place efficiently, ATT is a goner.
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