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

To: TechMkt who wrote (6321)	5/28/2000 5:29:00 AM
From: JDN	Read Replies (3) \| Respond to of 15615

Dear Fez, robert sheldon and all: I just received the proxy materials and 10k on Saturday related to GBLX. Very complicated and somewhat lenghthy, but my perusal of the documents leaves me a little shocked and concerned. Would like to initiate discussion of them if anyone has read them here. Some of my concerns and eyebrow raising are as follows: 1. This is the LARGEST board I have ever seen, is it just me? 2. It sure looks to me as though they spend more time and maybe money, looking after their own interests then the companies. Anyone note so many related party transactions, goodies programs etc etc. for directors and chief officers as GBLX has and GBLX isnt even yet much of a revenue producer. 3. Did anyone note on the balance sheet that Goodwill and other INTANGIBLES is 50% higher than Property plant and equipment? Is this normal in this business? 4. Did anyone see that Annunzio owns NO STOCK only a HUGE amount of stock options? 5. How do the rest of you feel about the large bonuses, stock option awards, loans to buy stock under option etc etc goodie programs this company currently has, when to date the companies revenue is less than expenses. I could go on but that should be enough to kick off a discussion. Believe me I am a long and have great hopes for this investment, but those documents sure raised my eyebrows. JDN