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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: Frank A. Coluccio who wrote (1012)	5/25/1999 10:00:00 AM
From: Mika Kukkanen	Read Replies (1) of 15615

US West in crisis? (Cross posting of mine from the US West thread, an apology if posted already) Will this be a problem? Check this address: teledotcom.com Colorado Says US West Networks Near Crisis By Loring Wirbel, EE Times A NEW AND POTENTIALLY HAZARDOUS wrinkle has emerged in the announced intent of Global Crossing and US West to merge. The proposed merger continued to get hammered by Wall Street through mid-week, while the Colorado Public Utilities Commission made a withering announcement Wednesday that US West's infrastructure in the state was reaching crisis proportions. ……………………………………………………… "Everyone picks on Global Crossing for being an infrastructure company that rose out of nowhere, but the real facade may be on the US West side," said one telecom analyst, who requested anonymity. ……………………………………………………… While the PUC has tangled with US West in the past over the company's attempt to offer digital subscriber line (DSL) services in urban areas while many rural regions cannot get data speeds above 4,800 bits per second, the new warnings from the PUC are unprecedented in theirharshness. The commission got thousands of calls from Colorado residents following early May floods, complaining that US West had told them they could be without basic phone service for weeks or even months. PUC members said Wednesday this was due to conscious decisions by US West executives to avoid upgrading copper plant in order to increase profit margins. They warned US West would face a series of hearings this summer in which fines and mandates to improve service by specific dates could reach unprecedented proportions. One telecom analyst close to Global Crossing said off the record that "the PUC warning makes clear something that investors are slowly realizing. Everyone picks on Global Crossing for being an infrastructure company that rose out of nowhere, but the real facade may be on the US West side. Global may be buying a network that is literally close to collapse in many of the states in which US West operates."

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