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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: DukeCrow who wrote (13332)8/14/2001 2:08:18 AM
From: Theophile  Read Replies (1) of 15615
 
Duke, thanks for the clear presentation of what the anals' concerns really are: lack of visibility. Bandwidth swapping is certainly a difficult to verify revenue source, and sticks out like an elbow, or a sore thumb.
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I had thoughts wrt the benefit to GX bondholders' from LVLT debt-for-equity swap: GX bondholders will be less willing to sell since they see the trend from LVLT or XO could alight upon the GX play, too, so I would expect GX bonds to hold their value a wee bit better as we move deeper into the unknown future with no clear signs of market improvement.
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Odd that GLW is offering plain old vanilla common when other players seem to be offering preferred converts....

Martin
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