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

To: Jeffrey D who wrote (4766)	3/7/2000 5:43:00 PM
From: Jeffrey D	Read Replies (1) \| Respond to of 15615

More news. This from Bloomberg. Jeff Global Crossing Not Interested in Buying U S West, Hindery Says Morristown, New Jersey, March 7 (Bloomberg) -- Global Crossing Ltd. isn't interested in acquiring U S West Inc., which agreed to combine with Qwest Communications International Inc., Global Crossing Chief Executive Leo Hindery said. ``I would never comment on somebody else's deals,' Hindery said in an interview from a New Jersey conference center, where he was meeting with other Global Crossing executives. ``The height of rudeness would be to comment on U S West.' U S West agreed to merge with Hamilton, Bermuda-based Global Crossing in May. The companies called off the transaction in July, after Qwest bid for both U S West and Frontier Corp., which Global Crossing had agreed to acquire last March. Global Crossing completed its purchase of Frontier, the No. 5 U.S. long-distance company, in September. U S West, based in Denver, fell 8 1/8 to 66 3/4 in late trading. Qwest, also based in Denver, fell 4 1/2 to 55 9/16. Global Crossing fell 1 1/4 to 52.

To: Jeffrey D who wrote (4766)	3/7/2000 6:14:00 PM
From: CF Rebel	Respond to of 15615

<Mr Annunziata's ousting is being seen by Wall Street as the price for failing to clinch a big deal.> I can't say much for "Wall Street" if their main concern is about clinching big deals. It sounds as if "Wall Street" as referred to in the article consists only of investment bankers and arbitrageurs who live for "the deal" however short-sighted it is. This is the same "Street" that didn't like the Frontier deal and had fits about a bandwidth glut late last summer. It should be obvious that what the "street" deems important about GBLX has usually been wrong - it has misperceived both the quality of the assembled parts of the company and their value. I wouldn't give the above quote any respect whatsoever. It is probably to Annunziata's credit that GBLX has made no blockbuster deals with a bloated major telecom company. Annunziata has pleased me as a shareholder and apparently blew off that old 300lb. streetwalker Deutche Telekom, much to my pleasure. Maybe Nacchio has a kink for her ("Whip me some more, baby!"). I hope that Hindery continues the short tradition here of biting off only as much as we can chew and only with the most technologically advanced partners. Lean and mean only need apply. CF Rebel