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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Jim O'Connell who wrote (33329)	8/31/2000 10:24:51 PM
From: Jim O'Connell	Respond to of 57584

*****Correction of a post I have made. >>>>>>GTS is another to watch, not the greatest fundamentals but serious Insider buying and looking for a bottom. Insider buying insiderscores.com In continuing my DD on GTS, I came across the following at The Street.Com and wish to correct an error. The Street.Com False Signals On the subject of tricky filings, please stop describing what happened at Global TeleSystems Group (GTS:NYSE - news) as "humongous buys." What can I say? Documents were filed ... mistakes were made... According to the papers filed with the Securities and Exchange Commission, on July 26, Jan Loeber and Gerard Caccappolo, officers of GTS subsidiary GTS Carrier Services, purchased some 1.5 million shares and 500,000 shares, respectively. There's only one small problem: The shares were not purchased at all, but received in an exchange. Turns out, as minority holders of GTS Europe B.V., Loeber and Caccappolo received the stock pursuant to an October 1999 exchange agreement. Under the October accord, GTS gradually would swap more than 3 million of its shares for just over 3,000 shares of GTS Europe. The alleged purchases were nothing more than Loeber and Caccappolo receiving their share of booty. So why were the transactions filed as purchases? To judge from the reaction of a company spokesman, it was an honest mistake. A more cynical man might wonder why similar transactions were filed correctly back in October... thestreet.com