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To: RR who wrote (38827)	7/11/2001 1:10:13 PM
From: T L Comiskey	Read Replies (1) \| Respond to of 65232

RR...fun ...In Deed......have had my 'flight bag ' in hand for longer than I care to remember.......... Who's in charge here..........? Who's on first...? Stay well Tim How Fiber Barons Plunged Nation Into Telecom Glut By Rebecca Blumenstein Staff Reporter of The Wall Street Journal DENVER -- As he rushed to lace America with fiber-optic cable, James Crowe wasn't the sort to let anything stand in his way - not the Rocky Mountains and certainly not his crosstown rival, Joseph Nacchio. By 1999, when Mr. Crowe's Level 3 Communications Inc. started digging a line connecting Denver and Salt Lake City, Mr. Nacchio's Qwest Communications International Inc. had already threaded its own cable through the most direct route, a seven-mile railway passage through the granite of the Continental Divide. Undeterred, Level 3 swerved an extra 70 miles through southern Wyoming, installing fiber at a blistering 19-mile-per-day pace. But now, Level 3 has hit a wall even Mr. Crowe may have trouble overcoming. The company's original ambition - to build history's largest, most advanced fiber-optic network to carry exploding amounts of Internet traffic - is now part of one of the biggest gluts the country has ever seen. All told, about 39 million miles of fiber-optic cable stretch underneath U.S. railroad beds, corn fields, natural-gas lines and roads, enough to circle the earth 1,566 times. Companies racing to build or expand nationwide networks laid some $90 billion of fiber during the past four years. Merrill Lynch & Co. estimates that only 2.6% of the capacity is actually in use. Much of it may remain dark forever.

To: RR who wrote (38827)	7/11/2001 1:23:47 PM
From: T L Comiskey	Read Replies (1) \| Respond to of 65232

Rick...Long ago and far away Now...Chuzzlewitt Warned on the DELL thread of the Serious problem...created by Insiders diluting the float with their Optopns-Shares that appeared as if out of No Where..( we do Know Where by the way)... Some how It Feels as if the average investor has been invited to a party by these CEOs...and left to pay for the Bills as these Big Fish head out to sea on their well appointed yachts........ T@Best to you each morning.com.....:) MONDAY JULY 09 2001 Share selling by US directors reaches record BY CARL MORTISHED, INTERNATIONAL BUSINESS EDITOR SHARE selling by directors of US companies has reached record levels and the malaise among company insiders reveals a severe lack of confidence that the American economy will recover this autumn. On the high-tech Nasdaq stock exchange, selling directors now exceed buyers by a factor of five to one, the highest ratio recorded by Argus Vickers, publisher of the Vickers Weekly Insider, a closely watched survey of directors’ dealings. The New York Stock Exchange is showing signs of a rout with selling directors outnumbering buyers by six to one, the highest level in 12 years, and evidence that boardroom gloom is spreading from high-tech companies to the wider industrial sector. According to Bijal Shah, markets analyst at SG, the investment bank, the selling is widespread and in high volumes. “There has been a belief that the downturn in spending would be temporary. But directors are seeing no improvement in order books and they are dumping their own shares even though the share prices are already low.” The Vickers statistics show some 1,800 directors and insiders were sellers in the past week. According to Mr Shah, the sellers over the past three months have included insiders among big high-tech companies such as AOL, AMD and Microsoft. However, the rout is extending to the wider industrial and financial sectors with insider sales at Ford, Bank of New York and MBNA. Mr Shah worries that the world could be facing a repeat of the early 1990s, when signs of a US recovery were extinguished by weakness in Japan and Europe. “US companies have a problem. The Fed has slowed down its rate-cutting and the European Central Bank is proving reluctant to cut rates at all. We need some easing of interest rate policy in Europe. The Japanese are not in a position to help.”