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

To: Robert Sheldon who wrote (2960)	10/29/1999 4:06:00 PM
From: stilts	Read Replies (2) \| Respond to of 15615

I agree. I look at it this way: it's as if GBLX has done a secondary offering for $45 per share for about 22 million shares ($1 billion divided by the exercise price of $45 equals approx 22 million shares). That's less than 3% of the outstanding shares (for a price that is almost triple the original ipo price). Yes, they will incur a little dividend expense at 6 3/8%, but that's much cheaper than debt, and, since it's preferred stock, not debt, the company's bond ratings won't be affected negatively. When a company issues a convertible, there are math-whiz arbs who buy the convertible and short the outstanding common, which is what is happening now. stilts

To: Robert Sheldon who wrote (2960)	10/29/1999 4:30:00 PM
From: Bimini	Respond to of 15615

Robert, I couldn't agree more. This is a buying opportunity for me. At the first hint of a bounce I will buy 1000 more in my long term account. Lets go GBLX....

To: Robert Sheldon who wrote (2960)	10/29/1999 8:15:00 PM
From: mthomas	Read Replies (1) \| Respond to of 15615

Robert Sheldon, thanks for the post re accepting the bond issue. I mentioned that I expected to see some sort of deal to get bucks that would hit the share price; someone responded that it was already announced this would happen.......even my rudimentary business mind knows that a dollar invested now by this GBLX crew will save two dollars next year and generate 20 or 200 dollars over the next few years....and look at today's stock price, the same as last weeks' stock price, but GBLX has $970MM in the kitty for more shopping. Making the company less easily preyed upon is key for my plans. I will be extremely disappointed if GBLX gets acquired for less than ~$90a share, because I expect a 6 or 7 bagger by the end of several years.....I am not joking..... I just want to see GBLX stay as GBLX, not some miniscule pimple on the back of Southern Bell Telephone Company, or whoever......it does hurt to see other stocks rocketing past, but if I pull out, then my tax money cannot sit there and keep working for me, and I cannot find a more secure investment anyway. ......the CC pointed out that a new ship for Global Marine was commissioned, due to the great demand for usage of the current fleet. Ships cost money too. And ships make some of the biggest returns of any investment, if handled properly (Mr. Onasis, remember him?).MT