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Technology Stocks : The *NEW* Frank Coluccio Technology Forum -- Ignore unavailable to you. Want to Upgrade?

To: Frank A. Coluccio who wrote (4344)	11/18/2001 5:48:41 PM
From: elmatador	Respond to of 46821

One man is at its center — Jack Benjamin Grubman. (Very appropriate name: GRUB: Slang. To obtain by importunity) Telecom's Pied Piper: Whose Side Was He On? By GRETCHEN MORGENSON ovad Communications (news/quote): Jan. 2, 1999-Aug. 15, 2001. ICG Communications (news/quote): Oct. 18, 1994-Nov. 14, 2000. Northpoint Communications: May 6, 1999-Jan. 16, 2001. PSINet Inc. (news/quote): May 1, 1995-May 31, 2001. Rhythms Netconnections: Apr. 6, 1999-Aug. 1, 2001. Taken separately, the rise and fall of five once- highflying telecommunications concerns, all in bankruptcy, is hardly remarkable. But together, along with other recent telecom failures and those still likely to occur, they represent one of the most spectacular investment debacles ever. Bigger than the South Sea bubble. Bigger than tulipmania. Bigger than the dot- bomb. The flameout of the telecommunications sector, when it is over, will wind up costing investors hundreds of billions of dollars. The telecommunications mess stands out for another reason: One man is at its center — Jack Benjamin Grubman. nytimes.com