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

To: BWAC who wrote (11272)	5/16/2001 9:54:52 PM
From: TechMkt	Read Replies (1) \| Respond to of 15615

Minnesota has approved the GX-CZN deal. That was the last state requiring regulatory approval. Anyone have any experience as to how long it should take to close from here? GX has said it would close in June, but I imagine they want the money ASAP and there seems to be no more hurdles. Fez

To: BWAC who wrote (11272)	5/16/2001 10:01:13 PM
From: Mama Bear	Read Replies (1) \| Respond to of 15615

BWAC, you are likely thinking of a 'floorless' convertible concerning destruction of shareholder value. Indeed, selling short the equity of a company that has entered into such a deal is perhaps the closest thing to a sure profit that exists in the market. However, with a set conversion price a convertible is an excellent financing tool that enhances shareholer value, assuming that the company can service the debt. GX's convertible's are definitely in the latter category. It's really strange how some folks get hung up on 'the shorts'. As long as the company is executing the short position will take care of itself. If the company doesn't, that's not the shorts responsibility. My policy is to not worry about what is going on in other folks' accounts. Regards, Barb