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To: SpudFarmer who wrote (37238)	7/26/1999 5:35:00 PM
From: marginmike	Read Replies (2) \| Respond to of 152472

Hey two Fridays ago, before greenspan I felt the market topped out. If yo look at my SI posts youll see the actuall post. The fact that put buying was non-exisiting and everyone was so sure that the earnings would drive the market further convinced me the rally was done. The greenspan speach was just the excuse

To: SpudFarmer who wrote (37238)	7/26/1999 5:38:00 PM
From: Ruffian	Read Replies (1) \| Respond to of 152472

Good For Q> From the July 26, 1999, issue of Wireless Week U S West Vows To Fly On Wireless Wings By Monica Alleven In all the hoopla over U S West's proposed merger with Qwest, one glaring question has been left hanging: What about wireless? Pressed last week on the issue, U S West Inc. said wireless must become a significant element in its service offerings after it merges with Qwest Communications International Inc. The new emphasis on wireless may surprise some, considering that U S West--the smallest of the Bell operating companies--passed up numerous opportunities in the past 15 years to buy into wireless. The company operates 1900 MHz service in only five major markets today. Yet company executives say wireless is a key part of their strategy as the carrier teams with No. 4 long-distance operator Qwest to become one of a handful of "supercarriers" in coming years. Peter Manetti, president of U S West's wireless business, said: "Qwest is going to give our wireless business the wings that we need to fly." U S West will need those wings. The company, with about 219,000 customers after the first quarter, continues to grow, but it's still a small player. Its offering, called Advanced PCS, includes a souped-up version of call forwarding--consumers can manage their phone calls between wireline and wireless, based on a proprietary technology. Markets include Portland, Ore.; Seattle; Minneapolis/St. Paul; Denver; and Phoenix, with Salt Lake City to launch before the end of the year. Prior to the $40.5 billion merger with Qwest, U S West operated under the financial structure of a Bell company, so it limited its 1900 MHz launches each year to minimize the dilutive impact on earnings. But Qwest is a high-growth company whose financial well-being is measured by operating cash flow, the same criteria used for most wireless companies. That will enable U S West finally to make an aggressive push into wireless, Manetti said. Its strategy remains unarticulated, but the future likely will include mobile data, which U S West is testing in Denver, and fixed wireless, which would complement Qwest's wireline strategy. Qwest already provides most long-distance service for U S West wireless customers, and it owns 19 percent of Advanced Radio Telecom Inc., a local multipoint distribution services provider. The new Qwest/U S West firm, named Qwest, also could develop a service to compete with AT&T Corp.'s Project Angel, a local loop service. U S West's other suitor in its month-long bidding war was Global Crossing Ltd., which, like Qwest, doesn't own any wireless properties. The companies' deal has Global Crossing buying No. 5 long-distance company Frontier Corp., which, coincidentally, also last week announced the sale of the last of its cellular properties to Bell Atlantic Mobile Inc. If Qwest CEO Joe Nacchio, a 26-year AT&T Corp. veteran, truly wants to build a titan to compete with AT&T as many observers expect, then wireless--the fastest growing telephone service--is crucial to the mix.