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

To: M. Frank Greiffenstein who wrote (12375)	6/25/2001 1:45:41 AM
From: RobertSheldon	Read Replies (1) \| Respond to of 15615

My house sits on a corner lot and I could buy a herd of sheep to save on the weekly lawn service, but I still have to feed them! Rather than look like a goat in struggling to piece together a guestimate of the actual savings, I would like to point out that the acquisition allowed for many extra important intangible benefits such as: Timely completion of the network, cash flow from which to borrow against and quality control. I and my firm look at the world differently than most investors. In many cases (as with GX) it is what is un-quantifiable (and trying to guestimate the impact) that can be as important as the quantifiable (which we also take very seriously).

To: M. Frank Greiffenstein who wrote (12375)	6/25/2001 2:33:31 AM
From: Theophile	Respond to of 15615

Doc, unless GX breaks out their numbers in great detail for the Global Marine business, the numbers could be misleading. I have a thought: It appears TCM marine construction biz is valued at ~$12-$15 by somebody, and we might consider what their total revs are for marine work before the network biz, and what Global Marine total revs are, and compare the marine construction side of the businesses to come up with a ballpark figure. When I was in marine construction, the margins were very nice. One of the most challenging and risky ventures for construction is the marine world. A going concern in marine construction is no small potatoes, and usually heavily involved in politics wherever business is contracted....or at least heavily involved with the funding parties, whether it be World Bank or private. The USA has the greatest opportunities for independents to break into the marine game, but elsewhere in the world (that I have knowledge of, anyway) the game is like a Guild, passed down through the years...note the origins of Global Marine, the oldest name in submarine cable-laying. Martin Thomas PS: corollary would be that if one is not amongst the preferred customers of the guild, then gaining services would require 1. your own company or 2. an alliance be formed with proper contributions. This could be viewed as part of the "infrastructure" for supporting subsea systems mentioned in a previous post, i.e. why terrestrial players will not venture into Davie Jones' space. mt