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

To: Bill Fischofer who wrote (11799)	6/15/2001 4:14:57 PM
From: gruetz	Read Replies (1) \| Respond to of 15615

CONFUSION: I believe there is too much confusion regarding the issue of being fully funded. DBAB reported a couple days ago that GX's capex for 2002-2003 would be $5 bln, down from previous estimates of $7 bln. OTOH, Casey said at shareholders' meeting that they had given no capex guidance. If so, where would DBAB have come up with their numbers? How much of any capex amount for 2002-2003 is variable and how much is absolutely necessary? How serious is the trend away from IRU sales? If serious, how is GX going to fund any capex in 2002-2003. Positive operating cash flow in amounts equal to capex are completely dependent on IRU sales.

To: Bill Fischofer who wrote (11799)	6/15/2001 4:15:37 PM
From: Ken Reidy	Read Replies (1) \| Respond to of 15615

I agree with your points Bill. I just fought off the desire to buy near the close a few minutes ago. GX is my favorite company...a stock I felt I could make my number one long term core holding, the anchor of my portfolio. I sold a couple of weeks ago because I feared the overall market was going to move down and I felt GX would move down with it. I had no idea the move down would be this strong. Now, the question is, how low will it go and how much damage will be done? I was one click away from buying back my original shares and more a few minutes ago but I held off. Two things kept me from buying. One, the fact the stock wiped out the 52 week low on heavy volume. Secondly, I question whether management will show up to fight the share price erosion(Fez's #1 complaint). I just can't figure out this company. JDSU had a terrible warning last night and the stock was down 20% earlier today. Then it rallies strongly and finishes down less than 10%. Then we have GX...unbelievably down 17.52% for the day. Go figure.