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Strategies & Market Trends : Classic TA Workplace

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To: NOW who wrote (37763)	5/2/2002 6:10:02 PM
From: reaper	Read Replies (2) of 209892

Dood, that is a question of fundamentals on an E-wave board. Can't we get banned for that <g> Its tough to know. There are apparantly ratings "triggers" on some of their debt, like at Enron (i.e. if they get downgraded to "junk" then the debt is in default and they have to pay it back), but they are attempting to re-negotiate them now. The bonds are trading right now as if the equity is pretty much worthless. So basically it is in the bond-holders hands. If they want to take their chances in bankruptcy court, they could probably force WCOM in soon. If they instead want to extend a life-line, they can re-negotiate the triggers and give time for WCOM to sell off some assets and maybe they can come out of this whole. The problem with the "asset selling" scenario is, who the heck is gonna buy telecom assets today? I don't think WCOM has any DROOPY shares among its assets <g>, so what are they going to sell?? Over a longer-term time frame, I think the equity at both WCOM and T is worth $0. They are both "wasting assets" in my opinion. And for a real-life example of how f'd up WCOM is....I have been an MCI customer for probably 15 years. To my knowledge I have paid every bill on time, and I spend a decent amount on long distance every month. About 4 months ago I paid my MCI bill through my electronic bill-paying account at Fleet, and something got screwed up and MCI thinks they didn't get the check. It was for $32.50. I have received no less than 20 phone calls requesting their $32.50. I have mailed them copies of the CANCELLED CHECK (I did in fact pay) but they still keep calling. Just yesterday they called threatening to cancel my long distance service. Can you believe, a loyal customer for 15 years who spends $500 a year on long distance and they are going to get rid of me over $32.50. UFB morons those people are. Anyway..... Cheers

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