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Technology Stocks : Leap Wireless International (LWIN) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Smith who wrote (1230)	2/3/2002 10:12:03 AM
From: pcstel	Read Replies (1) \| Respond to of 2737

but the market seems to be more impressed by AirGate's affiliation with deep-pocketed Sprint (less risk of failure?) and must be assuming (incorrectly?) that AirGate will have better cash flow returns, in part due to roaming revenue from Sprint. The biggest problem with this theory is that Airgate itself really has nothing of strategic value for Sprint. Sprint owns the spectrum. Sure Airgate has the infrastructure already installed. But, would Sprint really be all that concerned if Airgate went into recievership? I mean there is only one company that would be interested in buying Airgate (in or out of BK). Airgate is a unique asset. (Like Iriidum and Globalstar). It's market value per subscriber is really ZERO! Because the market for their subscribers are sole-sourced to Sprint. As for Michigan, what surprises me is, if the system is so close to launch, why don't we see more Michigan job postings on the Leap web site? The lack of hiring in Michigan makes me think the launch is not a 1Q02 event. Am I missing something with that conclusion? </i> No, I don't think you are missing anything. I have stated that I believe the rest of the Michingan markets will launch in Q202. Leap actually has a regional headquarters in Lansing. But, what it does show is the resolve that Harvey has on putting the "kabash"on further expenses until he can prove his point to Mr. Market. Look at the cost of service difference between Airgate and Cricket on a non-roaming basis! That's allot of Margin. Let alone our much lower CPGA numbers. PCSTEL