Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: DWB who wrote (490)	1/28/2002 9:06:38 PM
From: Gary Stern	Read Replies (3) \| Respond to of 586

I am only posting this to make me feel better. The game is over. In bankruptcy the Judge has the power to reject their Plan because it is inequitable. If they spent billions on the build out and want to trade it for a mere 750 million the bankruptcy judge could just say no. The common shareholders have a right to be represented and to oppose the Plan. They could have diluted massively and tossed us a bone but they basically will have a privately held company and they will make their real money when they do a secondary offering. Insiders will give themselves new options and lenders will extend the loans for new equity. My gripe about this Enron style fraud is that the entire purpose of the earnings hype was to calm the masses and prevent us from getting out. We were conned to wait and see and led to the slaughter by that piece of shit Legere. I think a fraud suit lies and I think this is worse than the Enron scandal. All those employees who got burned got cheap shares when the price was high; we all bought at retail market based upon the paucity of bullshit put out by management. They knew precisely how they intended to structure the equity deal a long time ago and kept it silent. I don't think it's "pays your money takes your chance". None of us ever had a chance.

To: DWB who wrote (490)	2/7/2002 3:49:50 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 586

Well DWB, it seems my earlier GX criticism must have had a ring of truth. It was about $4 then and now DOA. Being a kindly soul, I decided to rescue some creditors today who were trying to unload a bunch of debt [at only 4.25c in the $]. Now I have to find out what the heck Global Crossing really does, what they own, what Hutchison and the Singapore government company will do, [I can't remember its name], how many customers Global Crossing has, how much they pay and how much more they'd buy if fibre was priced in Wacky Wireless terms. So, was it a good move to buy the debt or not? Any suggestions gratefully accepted. I haven't read any of the SI discussions since way back then, so I'm in the due diligence state technically called "pig ignorant". I'll have a bit of a scan and see if the assets are going to be worth $10 billion in 5 years. I hope so! Happy 2002 to all the Global Crossing customers, creditors, shareholders and employees in the new company which will appear after bankruptcy. Cyberspace is NOT going away but will continue to boom like crazy when megabytes moved and processing devices available to subscribers cost something closer to the hourly rate of 3 billion people. The Y2K crash and the grinding first year of the new millennium are mere glitches on the cyberspace growth path to ubiquity. 4c on the debt beats $4 on the shares! Tonka Truck full! Mqurice