Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: SOROS who wrote (56847)	12/27/1999 1:18:00 AM
From: Jon Koplik	Respond to of 152472

To all - brief mention of wireless phones' effect on pay telephone usage in the current issue of Barrons interview with Sam Zell. ***************************** Q: Like any investor, you've had some turkeys. What current investment is giving you the most problems? A: Well, in Davel Communications, I've managed to turn a $36 million 14% stake into just $6 million of current value. That obviously has been a financial disaster to date. Q: What happened? A: I was attracted to the company because it is the largest independent pay-telephone company in the country. Unfortunately, that industry is in the throes of tremendous change. We've been hurt by the surge in wireless telephony and the fact that everybody these days carries around their own personal telephone. Coin revenues have plummeted as people use pay phones less. Clearly, the business will have to go through a major change beyond management changes that we've already made. But if I were guessing, the pay telephones of today will become the access vehicles of tomorrow. I wouldn't be shocked if pay telephones become free in the future in return for advertising. The pay phone could become an e-mail or Internet portal. But who knows? We're going to do our best to work through Davel's problems. ********************************************