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Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here -- Ignore unavailable to you. Want to Upgrade?

To: MikeM54321 who wrote (8621)	9/26/2000 8:08:04 PM
From: silicon warrior	Respond to of 12823

Got it. Over at CNBC, apparently they were beating up on LU and all CLECS in general. However, I have no sound here so diidn't hear it. Armstrong sure had courage and vision. Nowadays, however, no one questions that--it's his sanity and judgment they're doubting. Regards and good luck in these troubling times.

To: MikeM54321 who wrote (8621)	9/26/2000 10:39:39 PM
From: Frank A. Coluccio	Respond to of 12823

You may be just joking, but as Farber noted today, Qwest has already surpassed WCOM in market cap due to the latter's tock price going into the dumper. There is a bit of the old-world/new-world phenomenon associated with this, I think, and all of the associated legacy baggage that such implies. Notwithstanding market cap, you're right. They will continue to reap Billions. Probably with diminishing realized margins, however. Michael knows what this means, as does Bernie. One would think that they would both be looking to some how alleviate themeselves of much of the legacy stuff. And yet, they keep adding to it (at least in the case of T, IMO) in the truest vertical (or, is that 'bundled'? what's the difference, as long as it still uses a rusty switch?) fashion.

To: MikeM54321 who wrote (8621)	9/27/2000 10:09:55 AM
From: justone	Read Replies (5) \| Respond to of 12823

Mike: About a year ago, I heard Mike Armstrong speak at the Yale School of Management to a packed room of mostly graduate students and professors. I was very impressed. His comments are now pretty well known. When he took the job he knew that long distance was a commodity business and would die, and he had devised a strategy to own the subscriber by building wireless, cable, and even DSL access- but most of this is known from public statements, so I won't go into that here. I do believe he told the board up front that he took the job to change ATT from the old LDcompany into a new access and broadband company- so, I suspect they will support him through the current storm of criticism. I was impressed because he spoke without notes. After making a few jokes about being an IBM salesman, and the lessons learned from that, he launched into a very technical presentation (bits per second were mentioned in every other line). A friend of mine, who is a traffic engineer, compared notes with me, and we found he only made two mistakes, and they were more likely verbal gaffs than technical understanding; I'm not sure I could have done this without notes. We might have been the only two people in the room to understand him. The room was full of Yale management students, and they asked the usual questions of "how did you change corporate culture", and "how will you guarantee universal access to all citizens", and "what about women in management", but no one really commented on his main points and strategy. Mind you, the man picking the students out to answer questions for some reason mostly picked women and ignored the aggressive men; yes, it turned out he was a former Clinton official. Replying to one question, he also demonstrated that he personally used the web, and understood it fairly well; something I suspect many CEO's don't. When leaving the room, one Yale Management student next to me shook his head, and said "That guy was just too technical", but in a tone of voice as if that the problem was with Mr. Armstrong and not himself- the poor man didn't realize that a good manager ignores the technical stuff. His friends agreed. My conclusion is these management students are the guys who go out to Wall Street and become analysists and other creatures of the market- they are still saying that Mike doesn't get it, as they rush about in the latest mad panic. ATT has a good strategy, a good manager, and a lot of uncomprehending press. The strategy will take another year to execute, I guess. I'd bet on Mike as well as his Strategy.

To: MikeM54321 who wrote (8621)	9/27/2000 1:38:19 PM
From: BWAC	Read Replies (1) \| Respond to of 12823

More sector bashing today on the talking head shows. Says market is positioning for an expected negative analyst call who has talked to and researched 60 telco and equipment vendors for their future equipment buying trends. The talking head's (Faber) logic went something like: "Telco's revenue growth is expected to be 10%, but the equipment makers revenue growth is expected to be 30%. The numbers just don't add up like that for long." Well DUH? Lets see? 10% growth in Telco revenue could easily be something like $30 Billion in sum. As compared to a 30% growth in equipment being $10 Billion in sum. That can continue for many years. Why has this 10% vs. 30% growth issue all of a sudden becoe an issue? It is not new. Telco's have to spend to upgrade the infrastructure or else they won't be able to provide the services people will soon come to demand. What is this market thinking? And how did the fools take charge so easily? I guess it is the power of the funds playing with Other Peoples Money. When it is OPM you just bail and smile.