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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: flint who wrote (3079)	9/10/2001 2:52:50 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 3873

There is a "net burn" of cash but it is not huge because there are large interest savings associated with the debt retirement. The "net" is much less than the currently projected 500M margin of safety if they buy back debt at less than 50 cents on the dollar as they are planning. It also indicates that the current quarter (and next) etc.. is on track or they wouldn't be making this move. Personally, I wouldn't want to be short a company that has the best assets in the industry when the stock price is already discounting a high probability of bankruptcy. Especially when that company, by its actions, is screaming that it is still on target (or better) and it is confident enough in its position to burn through its current short term cash reserves to improve the long term outlook and value.