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

To: jopawa who wrote (10060)	2/27/2001 11:27:33 PM
From: SecularBull	Read Replies (1) \| Respond to of 15615

That's a shameful article. I think less of TS.C as each day passes, especially with "journalism" like that. LoF

To: jopawa who wrote (10060)	2/27/2001 11:46:38 PM
From: Ally	Respond to of 15615

>Robin Miller, Level 3's vice president for investor relations, wrote in: "The fact is that Level 3 is one of the few emerging communications companies to be fully funded. Level 3 is fully funded through free cash flow break-even, at which point we are obviously self-funding." < A typical CEO looped-tongue spin and play of words. "Free cash flow break-even".. what the heck is that? Free cash flow means cash flow after paying operating expenses and available to repay debts. >There was a brief moment in January when the junk bond market eased a bit for high-risk borrowers. That was when Level 3 filed.< Filing a shelf prospectus on a window of opening would show that the company is desperate for more financing. Hopefully it intends to use the money for working capital rather than building more fiber infrastructure. Not good for sector if there's an ego-maniac CEO bent on building capacity as much as the lenders will lend.

To: jopawa who wrote (10060)	2/28/2001 3:00:35 AM
From: RobertSheldon	Respond to of 15615

While the article brings up good points about the definition of "fully funded", I do not believe that holders of GX need to be too concerned about it. Most of what GX management is calling "fully funded" is either cash in the bank, or cash due from the ILEC sale. GX also points out that they have ample liquidity in the form of public securities (we began chatting about this last summer well before management fessed up) that could be sold if needed. I hope that they would not do this. Anyway, there is a lot to nervious about out there in telecom land, but once again GX holds up to the test.