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

To: M. Frank Greiffenstein who wrote (13200)	8/5/2001 4:41:44 PM
From: Captain Jack	Read Replies (1) \| Respond to of 15615

Taken from 2 news articles today-- could some of that cash be going out the door? WASHINGTON, Aug 5 (Reuters) - NextWave Telecom Inc., fresh with new life after a court awarded wireless licenses to the bankrupt company, will outline on Monday billions of dollars in new financing as part of its plan to emerge from bankruptcy, according to a person familiar with the company's plan. The company's plan will include payment for all valid claims, including money owed to the U.S. government for coveted wireless licenses, the person said. The licenses that cover major metropolitan markets are in hot demand by rivals who want the airwaves to expand and improve mobile telephone service. "The plan will provide for payment of all valid claims against the company, including the government's claim, plus applicable interest," the person said. "The new equity is expected to be supplied in principal part by NextWave's original group of equity investors." NextWave's <NXLC.PK> previous equity investors included Global Crossing Ltd. <GX.N>, Liberty Media Group <LMGa.N> and the Texas Pacific Group. "There is plenty of fiber in the ground that is begging to be lit," said William Seifert, a general partner with Westwood, Massachusetts-based Prism Ventures. "This sector is ripe for a lot of change because there are a lot of moving parts." Semiconductors are some of the most critical parts in optical networks, and venture cash -- including some from corporate venture units -- is backing companies working to improve them. Fremont, California-based Genoa Corp., for instance, in March raised $75 million, including cash from Global Crossing Ltd. <GX.N> and the WorldCom Venture arm of network service provider WorldCom Inc. <WCOM.O>, for its chip-based "photonic" amplifier.

To: M. Frank Greiffenstein who wrote (13200)	8/7/2001 3:44:13 PM
From: RobertSheldon	Read Replies (3) \| Respond to of 15615

It took more then a human lifetime to make back money on the Suez canal. Not a very good analogy. I do not understand what you are talking about. The British came in and bought out the origional owners and enjoyed profits for the next 100 years. I did not say that it took a 100 years for them to make money. What did you mean? The business press has been foisting the "buy and hold" mantra on unsuspecting people.* Yes, we wrote about this in a recent book. Buy and hold is important only if you can identify the ~5% or so companies that will be "worth" buying and holding long term. Have a very positive day.