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Technology Stocks : WCOM
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To: paul t who wrote (10890)6/26/2002 1:28:24 PM
From: Ed Zhao  Read Replies (2) of 11568
 
WCOM has to show that they can generate the amount of cash flow they promised, after the cut in CapEx and headcount. It's not unreasonable for a company geared towards "growth" to get too fat so let's hope cutting the head count will not cut into the bones. By looking at the inital reaction of the banks, it will be extremely difficult to imaging they'll approve the bank facility. WCOM may have to sell MCI to help pay the bonds coming due.

The situation is not as despair as the Enron case, where the account irregularity triggered immedated violation of credit covenent. Enron is a house of card, WCOM does has decent business. So let's prey for WCOM for the best of all the lucks.
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