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Technology Stocks : GX Investors Thread -- Ignore unavailable to you. Want to Upgrade?

To: Bonzo who wrote (404)	10/11/2001 12:14:35 AM
From: BWAC	Read Replies (1) \| Respond to of 586

<Buying the debt at .18 would imply a cost of $1.26B $7B x 18% = $1.26B With $2.4B of cash at 9/30/01 that would leave over $1M + the net from the Asset sales - possibly another $750M. With $1.75B of net cash and the elimination of $600M in annual interest payments GX is home free. Where did I go wrong in my calculations?> Finding willing sellers in size of the debt at 18 cents.

To: Bonzo who wrote (404)	10/11/2001 1:07:05 AM
From: CYBERKEN	Read Replies (1) \| Respond to of 586

You would be lucky to buy in 15% of that debt before the price went through the roof and you'd have to stop. Much of it may be held by large telecom companies (I haven't looked) who wouldn't be interested in letting go. I still put CH11 as a low probability, and a MFNX-like "private" restructuring as the most likely outcome. More data needed, such as the pending 10Q. Small consolation if you've bought in at $3 or higher, but a reorganized GX (who's management has ALREADY changed) could make it past this massive telecom depression into what, IMO, will be more prosperous times...