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Technology Stocks : McLeod, Inc. (MCLD) ---- IPO -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (1084)	12/3/2001 10:13:17 PM
From: BWAC	Read Replies (1) \| Respond to of 1418

Whale Shit. So that was the game all along? Gaining control. You know MCLD wasn't that far away from making it. Some serious cost cutting and they would be EBITDA positive. Of course, lets think this over some. From the press release, the current common will retain approx 30% of the company. Sounds bad. But debt is eliminated, to the tune of $300 Million Interest a year. Funnel those funds to the bottom line. Get us a PE and that 30% might not look so bad. 100% of a debt laden unprofitable, but promising company? Or 30% of a cash flow positive profitable one? Its not like MCLD had a valuation now anyway? $250 Million market cap. If this transaction can turn the market cap back into $750 Million our holdings won't be any worse off.

To: Softechie who wrote (1084)	12/3/2001 10:14:23 PM
From: BWAC	Read Replies (1) \| Respond to of 1418

Of course you could just outright say that it was all a pack of lies from the very beginning? Thursday September 27, 5:27 pm Eastern Time Press Release SOURCE: McLeodUSA Incorporated McLeodUSA Denies Groundless Rumors CEDAR RAPIDS, Iowa--(BUSINESS WIRE)--Sept. 27, 2001--McLeodUSA Incorporated (Nasdaq:MCLD - news), the nation's largest independent competitive local exchange carrier, today issued the following statement: While ordinarily it is the company's policy not to comment on rumor and speculation, McLeodUSA believes it is in the best interest of its customers, investors and employees to comment on recent inaccurate rumors about the viability of the company. The company believes its stock has been trading irrationally based on these groundless rumors. McLeodUSA is confident in its future and has absolutely no intention of filing for bankruptcy. Since announcing a 90-day planning process in August, McLeodUSA has made significant progress in laying out its detailed plans for continued future success, focusing on these primary activities: Refining its business strategy for going forward; Analyzing the profitability of each of its markets with the intent of right-sizing and focusing its sales organization on profitable revenue growth; Reviewing its capital expenditure requirements while maintaining full funding; Reviewing each business unit in detail for cost and operational synergies; Reviewing its asset portfolio to make available for sale assets which no longer align with the company's revised strategic plan; Establishing detailed plans for 2002 and 2003 to achieve profitable growth. The company believes it has the fundamentals in place to navigate through this difficult environment, and in fact, maximize the company's significant opportunity. McLeodUSA is on track to complete its detailed review and will communicate its plans to shareholders in the next several weeks.