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Technology Stocks : (LVLT) - Level 3 Communications
LVLT 53.630.0%Nov 1 5:00 PM EST
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To: Sailtrader who wrote (3574)10/17/2007 11:34:44 PM
From: Doughboy   of 3873
 
Everyone is walking around on eggshells at Level 3, a friend tells me. Crowe's illness this summer seems to have put the fear of god in the employee base, and rather than rally, the company seems to be waiting for the next shoe to drop. If you have ever looked at that triple-stack of overpaid, corn-fed executives on their leadership team, you realize that the next CEO is going to hack half of them off the payroll. Crowe is the only thing holding that place together; he's the bridge to the old guard and has the respect of the new guard. Blood will be running in the hallways when he's gone.

That said, I don't know where the exit of the CFO fits into that story. Patel seemed to be sharp and well-respected for the turnaround he helped pull off, so I'm surprised that they would throw him under the bus for a bad quarter or two. I don't see how that can be blamed on the CFO. Even the press release was bizarre: why was it announced before the quarter results? Why was it so complimentary of him? It would seem smarter to announce the CFO leaving AFTER the quarter results, or at least simultaneously. If it was a bad quarter, they are going to suffer a double hit to their stock, rather than a single painful one.

Doughboy
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