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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (13066)	9/16/2001 8:18:37 PM
From: cfimx	Read Replies (1) \| Respond to of 78735

Paul, I've heard that there's no confidence in management allocating all that capital. My own sense is they did exactly the right thing by divesting a lot of different businesses and getting focused. I'm with you. It's a buy, but it's a cigar butt. (just the way you like it) While on the subject of Telecom, you might want to look at MCLD, which is now priced at about a buck. You may recall that Forstmann Little got involved with this (may have got Caught UP in bubble thinking) and has been trying to salvage its substantial investment ever since. They just hired a new CFO/COO who worked miracles, apparently, at Gulfstream for FL. At the same time, they sold more equity to FL, cut dividends on their preffered, and added a number of new board members. FL is VERY involved now. Finally, Clark Mcleod doesn't strike me as a guy who is about to go bankrupt, which seems to be how the shares are priced.