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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Les H who wrote (164829)5/9/2002 12:15:03 PM
From: Giordano Bruno   of 436258
 
Funny stuff Les.

"A couple of years ago, when fast-growing companies bought slower dinosaurs -- Qwest bought US West and AOL bought Time Warner -- the markets viewed it unfavorably, thinking the new fast growers were sacrificing growth," said Gary Pzegeo, who helps invest $4.5 billion as vice president for Gannett Welsh & Kotler Inc. and does not own AOL bonds. "Those transactions turned out in a sense to be lifesavers because (otherwise) the old AOL and the old Qwest might not be around today."

That doesn't help AOL bondholders now, and at current prices even equity investors are valuing the online unit at zero. "People are having a really tough time valuing that (AOL) portion of AOL Time Warner," said Pzegeo, who works in Boston.
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