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Technology Stocks : XO Communications (XOXO) -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (823)	11/30/2001 7:54:36 PM
From: James Calladine	Respond to of 1018

I tend to agree with you. To me, this looks like Chapter 11, minus the legalities. If I understand it, the company, knowing that at some time in the very near future will be in default on its debt covenants (just like ENE), has, preemptively said to its creditors: -- "we're not going to pay you. This is what we are offering instead. And if you don't like it, put us into bankruptcy and you'll get less (or nothing)! -- and to its equity holders--"ck off, we don't need you anymore!" -- and to its management and staff--"don't worry, we are going to look after you....." I hope some major group of creditors TOTALLY challenges this approach which if based pretty much entirely on: "last money in gets the spoils, and ck anyone else, except the people we still need...." The market probably always has been a total business jungle, but this deal (in its cynicism) has to be in the category of Olympic-class disgraces. Namaste! Jim

To: Madharry who wrote (823)	12/1/2001 8:54:35 PM
From: Ronald P. Margraf Sr.	Read Replies (1) \| Respond to of 1018

Madharry, I'll give you an example. I'm in KKRS. No one voted for the company to do a 10 to one reverse split. But it is going to happen. Why, because the primary shareholders are also on the board. I'm going to get fried. They mise well go BK. That is where my investment is going. So one has to learn to suck it up an learn how the game is played. Investing is not about morales, it is about making your money an getting out. As far as the company telling you that your money was at risk, you better read it again. They told you that they where a loosing concern an any money that you stuck in was at your own risk. Ron