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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: CF Rebel who wrote (2081)	9/23/1999 9:53:00 AM
From: TechMkt	Read Replies (2) \| Respond to of 15615

FRO shareholders meet at 1000. Should have some news by 1200. If nayone hears the outcome please post. Thanks. Fez

To: CF Rebel who wrote (2081)	10/3/1999 1:31:00 PM
From: AurumRabosa	Read Replies (4) \| Respond to of 15615

Regarding the stock buy red herring I now agree with you. I was thinking this is a great story and I wanted to learn more and buy more stock. Then I listened to the conference call when they announced the MSFT/Softbank deal and that's where I think it was Winnick say they were going to buy back $500 million of stock. Personally I don't even think they should authorize a buyback at this stage but then I defer to Mr Winnick as a savvy manager to make that call. Then after hearing Winnick say at Telecosm'99 that you can't sell a junk bond then I knew he had either turned around his thinking or tipped his hand that the buyback was just a red herring. Default rates on junk bonds could reach 6% this year, rates are rising, and the tea leaves do not look good for marginal borrowers. If you have cash in hand use it to a productive end, lay a cable from India to Australia or go buy another company like FRO. Don't squander cash in hand because money will be even harder to come by next year.