Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Zeev Hed who wrote (30721)	2/18/2002 10:23:15 AM
From: Ted Downs	Read Replies (1) of 99280

Zeev, re: off sheet debt I understand that many companies are leasing facilities instead of building them. That expense for a rental fee of say $1 million a year shows up every year but the contract of debt for perhaps a 20 year $20 million dollar lease doesn't appear as debt on the balance sheet. re: Global Crossing as prime example of corporate waste.Even as the company saw its fortunes decline amid a general downturn for telecommunications network companies, Winnick, who founded Global Crossing in 1997, maintained the lavish offices as a symbol of his grand plans to build a worldwide high-speed data transmission network. This move out of Beverly Hills offices will save $400,00 a month rental while in bankruptcy. Is this a trend in the commercial real estate markets whereby unscrupulous operators and even honest corporations make huge leasing debt obligations which never show up on the balance sheet? Ted

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