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Technology Stocks : Williams Communications Group - WCG

WCG 349.92

+1.4%

Jan 23 4:00 PM EST

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To: James Calladine who wrote (594)	2/26/2002 12:23:10 AM
From: HEP_Ronin	Read Replies (1) of 609

Thanks for your cogent explanation -- as to what can be explained. I see from your other post that it does get complicated. What I find very disturbing about the whole mess is it would seem that a "cool" way to make the enterprise more competitive is to file Capt-11, dump the shareholders, issue new stock to the creditors, and start over again with pretty much the same business. I mean I could hardly believe it when the CEO of Global Crossing said that they would emerge from Chapt-11 a stronger company. What company? Aren't the shareholders THE company? It would be like a doctor telling the patient that they were going to remove his brain ... but afterwards the body would be a lot healthier! Well, at least WCG mentioned dilution, not elimination. I guess we'll just have to watch, as you say. (Maybe we'll just wind up lobotomized.) Incidently, would the details of a corporation's financial arrangements be found in the SEC filings. Do you know? My guess is that most of it would be hidden.

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