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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: Kent Wilke who wrote (498)3/24/1998 10:25:00 AM
From: dr. killjoy  Read Replies (1) of 3873
 
The purpose of my post was to see if you really knew anything about lvlt or if you were just caught up in the hype. I got my answer. I am bullish on the prospects of this industry and the company lvlt. There does seem to be a big discourse with regard to the difference between the stock and the company because of extreme optimism.

LVLT has $7.5 billion of goodwill, I realize Mr. Crowe and his team have value but that is unprecedented. The company has 2 operating entitys, coal is less valuable every day because virtually all the take or pay contracts are expiring so cash flow will go from over 70 million to near breakeven in the next 3 years. PKSIS is a nice business that does close to $100 million in revenue with little EPS. But that business will dovetail into the network nicely. The assets we all know are a publicly traded basket of c-tec spinnoffs which also dovetail and won't be sold, the toll road which is to small to matter and the cash.

so to review, If you buy the stock today you get about $3 billion worth and you pay $10.5 billion. The stock market is a wonderful thing. Merrill just held a conference in NYC and trust me everyone is looking at the big pipe trade. So is Mr. Crowe and team worth $7.5 billion?? I bet he'd take the cash if you could offer it to him. A billion dollars just doesn't seem to buy what it used to.
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