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To: Ken98 who wrote (12591)	8/21/2000 7:33:21 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

A bit from the Rap today jogged loose a memory: Calling CLEC. . . There has been some chatter about a problem with a few of the competitive local exchange carriers (CLECs) and the equipment they use, which is reportedly vendor-financed. One of the CLECs went bust this weekend in Louisville, Ky., and it was interesting to note that both Lucent (LU) and Cisco (CSCO) were interested parties. Apparently, so was Goldman Sachs (GS), which appears to have underwritten the company's last debt financing. A lot of these CLECs have a lot of debt, but apparently not enough to buy all the equipment they need, so the vendors have been financing them. Just another potential storm to keep our eye on to go with the problems in wireless and PCs. David Faber (on Bubblevision) was discussing this point today, and actually pointed out the pertinent fact: that some vendors financing these CLEC's are likely going to have bad debt problems in the next few quarters. I was stunned and shocked that such an unbullish thesis would be advanced on Bubblevision, but I guess they gotta toss the few remaining bears a sop now and then. Of course they quickly rushed ahead to the next topic (Tyler Mathiesen's son's fondness for Pokemon cards), before the implications of these statements could sink in....