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To: KyrosL who wrote (108946)	6/15/2001 9:02:19 AM
From: Earlie	Read Replies (5) \| Respond to of 436258

Kyrosl: Nortel's balance sheet was an airplant, dominated by fluffy goodwill, largely accumulated through the mad acquisition of zany companies, all bought at or near their stock market peaks. Roth's strategy was wonderfully in tune with Wall Street's desire..... growth at any price. Well now, as Dak so neatly put it, "it's payback time". I warned several pension funds last summer about this and got laughed out of the boardrooms. Not much laughing now. Best, Earlie

To: KyrosL who wrote (108946)	6/15/2001 9:05:55 AM
From: oldirtybastard	Read Replies (3) \| Respond to of 436258

$19 Billion, huh? I'm sure everyone will look at this as non-cash, non-real world loss, bidness is just fine otherwise of course. I mean, NT is a great company, everyone says so just like LU, 7 Billion bagholders can't be wrong can they? -bg- How many of us will still be alive when NT makes enough in aggregate just to cover that $19B loss? This sounds like a long term investment to me.