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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Andrew H who wrote (10724)	7/7/1999 9:18:00 PM
From: Snow Shoe	Read Replies (1) \| Respond to of 30916

A good post from the Yahoo pit. Even if completely fabricated, he has some excellent points. The books had to receive some serious scrutiny by the major investors one would hope. << * JUST SPOKE WITH IR ABOUT ARTICLE* by: voices_of_reason (39/M/New York, NY) 90059 of 90066 Just hung up the phone with IR at IDT. Was very reassured with the response I got -- they are working late. TSCM article is much ado about nothing..... Here is the synopsis: 1) Lermer Overseas Telecom very much exists. 2) Lermer has several subsisidiaries, who together with the parent are all on the hook for the loan. 3) All subsidiaries are current in state/federal filings. 4) Lapse by Lermer parent co. to file State franchise filings is simply an oversight, correctable within a matter of days/weeks for no more than a few hundred dollars (some big exposure there). 5)BT Alex Brown, CIBC, Lehman all underwrote a $150 mm credit facility and did their own diligence on IDT and Lermer and were perfectly satisfied -- after all, these banks put their own reputations on the line when they underwrite these things, because they syndicate out to other banks who rely implicitly on their diligence. 6) IDT's auditors, Ernst & Young, are comfortable with the loan to Lermer. 7) NTOP bankers and private investors did their own diligence on IDT, they too were satisfied with all aspects of IDT's business -- and left no stones unturned. 8) Loan has been reduced over the last two quarters by regular paydowns of principal and interest, current balance is under $22 mm. 9) IDT has been doing business with Lermer for many years, and gets regular monthly financials from them. 10) relationship is very beneficial to IDT and IDT's return from the loan is FAR in excess of the 6% (yes 6%, not 5%) interest that they charge. 11) Lermer has an exclusive with IDT - IDT is Lermer's only customer, so that all monies loaned by IDT directly benefit IDT. Just some real reassurance for all us longs. IR said that they will not, at this time>>

To: Andrew H who wrote (10724)	7/7/1999 9:33:00 PM
From: Yamakita	Read Replies (2) \| Respond to of 30916

Andrew, Greenberg is not "in league" with anyone. He is employed by TheStreet.com to report on companies that, for a variety of reasons, are in his opinion overvalued or suspect (legally, morally, whatever). He is very good at what he does. Do a check on his record sometime. There is much corporate shenanigans in the business world, and Herb has made it his career to investigate whatever smells foul to him. That makes him a valuable force in the world of investing. Do not imagine that he has much materially to gain from the demise of companies he writes about. It's not personal, it's his mission. It's time that people realize that shorts are not enemy: they are your friends. If there is truly nothing to worry about, they must at some point buy back, which obviously drives the stock higher; that's how it works. Courter's answers were lame (I mean, come on: the company is run by technical people? Hello?). Courter is the saving grace of this company. If that's the best answer IDTC can come up with, the possibility of corporate shenanigans has just been raised. There are simply too many companies out there without these kinds of problems for me to continue to invest in this company. I'm taking my 50% profit, opening a bottle of wine, thanking Howard for his time, and saying sayonara. I'll keep a few of my December out-of-the-money calls on the outside chance that this is all bogus, but I'm mentally writing them off right now. I'm parking my 2,000 shares of IDTC common into Berkshire for now. It's been an education--best of luck to all of you. Yamakita